Info
Info
News Article

Infinera Reports Q4 And 2016 Year Results

News

Product transition holding back revenue growth and profitability, says CEO




Network company Infinera has released financial results for its fourth quarter and fiscal year ended December 31, 2016.

GAAP revenue for the quarter was $181.0 million compared to $185.5 million in Q3 2016 and $260.0 million in Q4 2015. GAAP gross margin for the quarter was 38.1 percent compared to 45.6 percent in Q3 2016 and 44.5 percent in Q4 2015. GAAP operating margin for the quarter was (25.3) percent compared to (5.9) percent in Q3 2016 and 5.3 percent in Q4 2015.

GAAP net loss for the quarter was $(36.3) million, or $(0.25) per share, compared to $(11.2) million, or $(0.08) per share, in Q3 2016 and net income of $12.6 million, or $0.08 per diluted share, in Q4 2015.

“We executed well in the fourth quarter and delivered results at the high-end of our guidance,” said Tom Fallon, Infinera's CEO. “As network infrastructures rapidly evolve, our objective remains to help our customers win by delivering the highest performing solutions at the Transport Layer." 



Info

He added: "Though our product transition is currently holding back revenue growth and profitability, by introducing next generation ICE4 products, my belief is that we are well positioned to begin improving our business results over the course of 2017 and for significant opportunities in the future.”

Non-GAAP gross margin for the quarter was 41.8 percent compared to 49.2 percent in Q3 2016 and 48.3 percent in Q4 2015. Non-GAAP operating margin for the quarter was (9.2) percent compared to 3.6 percent in Q3 2016 and 12.7 percent in Q4 2015.

Non-GAAP net loss for the quarter was $(17.0) million, or $(0.12) per share, compared to net income of $7.4 million, or $0.05 per diluted share, in Q3 2016, and net income of $32.0 million, or $0.21 per diluted share, in Q4 2015.

Fiscal Year Results

GAAP revenue for the year was $870.1 million compared to $886.7 million in 2015. GAAP gross margin for the year was 45.2 percent compared to 45.5 percent in 2015. GAAP operating margin for the year was (3.0) percent compared to 6.7 percent in 2015. GAAP net loss for the year was $(23.9) million, or $(0.17) per share, compared to net income of $51.4 million, or $0.36 per diluted share, in 2015.

Non-GAAP gross margin for the year was 48.3 percent compared to 47.8 percent in 2015. Non-GAAP operating margin for the year was 6.2 percent compared to 13.1 percent in 2015. Non-GAAP net income for the year was $49.4 million, or $0.34 per diluted share, compared to net income of $112.0 million, or $0.78 per diluted share, in 2015.

Info
Fraunhofer Group and Leibniz Association to collaborate on future technology
Qorvo Launches PAM4 Family for Datacentres
Sherwin Cabatic joins Kaiam Corporation
Optical amplifier is smaller than a paper clip
PhoeniX announces five day course on photonic chip design
Lumentum to Exhibit at Five Tradeshows in Three Months
Phoenix Announces new OptoDesigner Release
POET Reports $1.86 million in sales for 2016
Tyndall to lead world's first photonics packaging pilot line
ECIX uses Infinera Cloud Xpress to connect Datacentres
UCSB researchers demonstrate chip-scale optical frequency synthesis
Kaiam to acquire British III-V Facility
Lumentum reports record revenue of $265 million
Emcore turns in a solid quarter
PhoeniX and Synopsys to show PIC software at SPIE Photonics West
The PIC movement is gaining momentum in the marketplace
Lumentum Enhances 100G Long-Reach Datacom Portfolio
RETN Deploys Infinera Cloud Xpress in Europe
Infinera Introduces Instant Network product
Emcore Announces products for Next Generation Networks
Infinera Reports Q4 and 2016 year Results
Imec demonstrates 896Gb/s photonics transceiver
VPIphotonics and PhoeniX Software integrate solutions based on LioniX International TriPleX technology
Lumentum to Exhibit at Four Tradeshows this quarter
Industry Group Forms Multi-Source Agreement for Shortwave WDM
Dutch researchers develop 1,000 times more efficient nano-LED
German carrier boosts capacity with Infinera Cloud Xpress
NTT team advances photonics integration
TowerJazz Announces New Process for optical transceivers
Sherwin Cabatic joins Kaiam as Vice President of Sales

Info
Your firstname
Your lastname
Next »Close
 
×
Logo
Search the news archive

To close this popup you can press escape or click the close icon.
×
PIC Magazine

Login

Email

Password

Not yet registered?

To close this popup you can press escape or click the close icon.
Logo
×
X
Info
X
Info