Infinera’s 2013 DTN-X Ride Starts Off Well

April 25th, 2013 by · 1 Comment

Infinera also posted its first quarter earnings yesterday, and like Akamai they made investors quite happy.  The company’s DTN-X entry into the 100G market hit the streets a bit less than a year ago after long anticipation, and three quarters later it is clearly driving things forward – with forward meaning increased guidance:

$ in millions Q1/12 Q2/12 Q3/12 Q4/12 Q1/13 Guidance
Revenue 104.7  93.5 112.2 128.1 124.6 Q2: 130-140, 2013: ~20% growth
Operating Expenses 60.3 58.7 59.7 61.8 57.6 Q2: 53-54, 2013: 205-210
Non-GAAP EPS (0.10)  (0.16) (0.07) (0.05) (0.06) Q2: (0.04)-0.01
Non-GAAP Gross Margin % 40%  37% 39% 36% 36% Q2: 37-39%, 2013: 38-40%

Infinera hit the top of guidance in terms of revenues, and gave Q2 guidance well in excess of expectations while raising its full year growth target to 20% – the top of the range given just last quarter.  Non-GAAP earnings per share was a penny better than expected, while forward guidance’s lower bound was itself a penny ahead of analyst projections.  But beyond the numbers, the company sounds very bullish right now, transitioning further from a few years of caution.



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Categories: Financials · Telecom Equipment

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