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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