Los ingresos crecen por cuarto trimestre consecutivo hasta los 95.8 millones de dólares; logra un cashflow positivo y suma cinco nuevos clientes
Madrid, 21 de abril de 2010 – Infinera Corporation (Nasdaq: INFN), un proveedor líder de sistemas de comunicaciones ópticas digitales, ha presentado hoy los resultados económicos del primer trimestre de 2010, que finalizó el 27 de marzo de 2010.
• GAAP revenues for the first quarter of 2010 were $95.8 million compared to $90.2 million in the fourth quarter of 2009 and $66.6 million in the first quarter of 2009.
• GAAP gross margins for the quarter were 39% compared to 38% in the fourth quarter of 2009 and 30% in the first quarter of 2009. GAAP net loss for the quarter was $20.0 million, or $(0.21) per share, compared to $18.7 million, or $(0.19) per share, in the fourth quarter of 2009 and $24.3 million, or $(0.26) per share, in the first quarter of 2009.
• Non-GAAP gross margins for the first quarter of 2010 were 41% compared to 40% in the fourth quarter of 2009 and 31% in the first quarter of 2009, excluding restructuring and other related costs and non-cash stock-based compensation. Non-GAAP net loss for the first quarter of 2010 was $7.0 million, or $(0.07) per share, compared to net loss of $6.5 million, or $(0.07) per share in the fourth quarter of 2009 and net loss of $17.6 million, or $(0.19) per share, in the first quarter of 2009.
Management Commentary
“Los sólidos resultados de nuestro primer trimestre demuestran que sigue habiendo una fuerte demanda del mercado de las redes de Infinera basadas en PICs (Circuitos de Integración Fotónica), que proporcionan la solución más rentable de la industria y las capacidades de gestión del ancho de banda inteligente más avanzadas”, dijo Tom Fallon, presidente y CEO de Infinera. “En el primer trimestre de 2010, nuestros ingresos crecieron por cuarto trimestre consecutivo, los márgenes brutos han mejorado por tercer trimestre consecutivo y hemos tenido bookings record por segundo trimestre consecutivo”.
“Con el telón de fondo de una mejora en el gasto tecnológico, la actividad de negocio es sana en nuestros principales segmentos de mercado y clientes”, dijo Fallon. “Durante el primer trimestre, hemos añadido cinco nuevos clientes a nuestra lista, incluyendo uno de los tres proveedores líderes de Japón y continuamos aumentando nuestra presencia a través de un conjunto más amplio de oportunidades de mercado”.
The company also noted the following developments:
• With the addition of the five new customers this quarter, the company’s total customer count is 74. Among the new customers, three were from North America, one from Europe and one from Asia. The new Asia-based customer has begun Infinera deployments in both Asia and North America.
• One new ATN win this quarter which brings the company’s total ATN customer count to seven, six of which are existing DTN customers.
• The company won expanded footprint with existing customers including a new significant opportunity with an existing Tier One account for a Latin American deployment, as well as an expanded relationship with another customer that will include participating in a series of large overbuilds in a global capacity expansion.
• The Company generated $2.3 million of cash from operations for the quarter.
• The top 5 customers for the quarter included Level 3, two additional established carriers, and two of the world’s largest internet content providers. Level 3 and one of the leading internet content providers were 10% or greater customers at 22% and 16% of revenue, respectively.
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Acerca de Infinera
Infinera suministra sistemas ópticos digitales para operadores de telecomunicaciones a nivel mundial. Los sistemas de Infinera son únicos porque usan una tecnología avanzada de semiconductores: el circuito integrado fotónico (PIC). Los sistemas y la
tecnología PIC de Infinera han sido diseñados para suministrar redes ópticas que aportan características claves como son una mayor flexibilidad y sencillez en la ingeniería y operaciones, mayor rapidez en lanzamiento de servicios y en especial la capacidad de lanzar nuevos servicios sin necesidad de modificar la infraestructura óptica. Para más información, consulte www.infinera.com.
Forward-Looking Statements
This press release contains forward-looking statements, including statements about our belief that the market demand for our solutions and systems remain strong, our belief that our PIC-based network provides the optical industry’s most cost-effective solution and most advanced intelligent bandwidth management capabilities, our belief that we are seeing an improvement in the technology spending environment, our belief that business activity is healthy across all our major markets and customer segments, and our belief that we are continuing to grow our footprint across an expanded set of market opportunities. These forward-looking statements involve risks and uncertainties, as well as assumptions that if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements include our ability to react to trends and challenges in our business and the markets in which we operate; our ability to anticipate market needs and develop new or enhanced products to meet those needs; the adoption rate of our products; our ability to establish and maintain successful relationships with our customers; our ability to reduce customer concentration; our ability to compete in our industry; fluctuations in demand, sales cycles and prices for our products and services; shortages or price fluctuations in our supply chain; our ability to protect our intellectual property rights; general political, economic and market conditions and events; and other risks and uncertainties described more fully in our documents filed with or furnished to the U.S. Securities and Exchange Commission (SEC). More information about these and other risks that may impact Infinera’s business are set forth in our annual report on Form 10-K, which was filed with the SEC on March 1, 2010, as well as subsequent reports filed with the SEC. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements.
Use of Non-GAAP financial information
In addition to disclosing financial measures prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP), this press release and the accompanying tables contain certain non-GAAP measures that exclude non-cash stock-based compensation expenses and non-recurring restructuring and other related costs. We believe these adjustments are appropriate to enhance an overall understanding of our underlying financial performance and also our prospects for the future and are considered by management for the purpose of making operational decisions. In addition, these results are the primary indicators management uses as a basis for our planning and forecasting of future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income or basic and diluted net income per share prepared in accordance with GAAP. Non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles and are subject to limitations. For a description of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section titled, “GAAP to Non-GAAP Reconciliations.” We anticipate disclosing forward-looking non-GAAP information in our conference call to discuss our first quarter 2010 results, including an estimate of non-GAAP earnings for the second quarter of 2010 that excludes non-cash stock-based compensation expenses.
A copy of this press release can be found on the investor relations page of Infinera’s website at www.infinera.com.
Infinera Corporation and the Infinera logo are trademarks or registered trademarks of Infinera Corporation. All other trademarks used or mentioned herein belong to their respective owners.
