Info
Info
News Article

Infinera Reports Disappointing Q3

Weak demand and 'challenging' revenue environment affecting performance

Infinera, a maker of InP photonic integrated circuits (PICs) and network equipment, has released financial results for Q3 2016 ended September 24, 2016.

GAAP revenue for Q3 was $185.5 million compared to $258.8 million in Q2 2016 and $232.5 million in Q3 2015.

"As expected, weak demand across much of our business in the third quarter led to financial results that were below our standards," said Tom Fallon, Infinera's CEO.

"While the revenue environment is likely to remain challenging in the near term, we are making continued progress towards delivering our next generation of products and increasing the cadence in which we will introduce step function technology improvements. I firmly believe that we have the team and the core technologies that will enable us to recover from our current challenges and ultimately return to delivering differentiated financial results."

GAAP gross margin for Q3 was 45.6 percent compared to 47.8 percent in Q2 2016 and 44.2 percent in Q3 2015. GAAP operating margin for Q3 was (5.9) percent compared to 6.2 percent in Q2 2016 and 6.1 percent in Q3 2015.

GAAP net loss for Q3 was $(11.2) million, or $(0.08) per share, compared to net income of $11.5 million, or $0.08 per diluted share, in Q2 2016, and net income of $8.5 million, or $0.06 per diluted share, in Q3 2015.

Non-GAAP revenue for Q3 was $185.5 million compared to $259.0 million in Q2 2016 and $233.2 million in Q3 2015.

Non-GAAP gross margin for Q3 was 49.2 percent compared to 50.4 percent in Q2 2016 and 47.5 percent in Q3 2015. Non-GAAP operating margin for Q3 was 3.6 percent compared to 13.2 percent in Q2 2016 and 14.4 percent in Q3 2015.

Non-GAAP net income for Q3 was $7.4 million, or $0.05 per diluted share, compared to $30.9 million, or $0.21 per diluted share, in Q2 2016, and $32.2 million, or $0.22 per diluted share, in Q3 2015.



AngelTech Live II is now available on-demand!

AngelTech Live II was broadcast live on Monday 2nd November and comprised digital versions of the industry flagship physical events: CS International and PIC International

The 2nd virtual summit took the form of three interactive sessions over 1 day and proved once again to be a key event in the compound semiconductor and photonic integrated circuits calendar.

  • Analyst talks
  • Industrial research presentations
  • End user presentations
  • Dedicated breakout room for partner presentations

So make sure you sign up today and discover the latest cutting edge developments across the compound semiconductor and integrated photonics value chain.

WATCH ON-DEMAND

EXPLORE VIRTUAL BOOTHS FROM OUR PARTNERS

NETWORK WITH YOUR PEERS AND COLLEAGUES

Info
Info
×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the PIC Magazine, the PIC Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info
{taasPodcastNotification} Array