Infinera reported Q4 2016 revenue of $181.0 million compared to $185.5 million in the third quarter of 2016 and $260.0 million in the fourth quarter of 2015. GAAP gross margin for the quarter was 38.1% compared to 45.6% in the third quarter of 2016 and 44.5% in the fourth quarter of 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 the third quarter of 2016 and net income of $12.6 million, or $0.08 per diluted share, in the fourth quarter of 2015.
“We executed well in the fourth quarter and delivered results at the high-end of our guidance,” said Tom Fallon, Infinera’s Chief Executive Officer. “As network infrastructures rapidly evolve, our objective remains to help our customers win by delivering the highest performing solutions at the Transport Layer. 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.”
