Infinera reported Q2 GAAP revenues of $96.0 million compared to $92.9 million in the first quarter of 2011 and $111.4 million in the second quarter of 2010. GAAP net loss for the quarter was $24.2 million, or $(0.23) per share, compared to net loss of $16.4 million, or $(0.16) per share, in the first quarter of 2011 and net loss of $9.6 million, or $(0.10) per share, in the second quarter of 2010. The company’s GAAP gross margin for the quarter was 39% compared to 46% in the first quarter of 2011 and 42% in the second quarter of 2010.
“We are encouraged by our second quarter performance, including an improvement in bookings momentum,” said Tom Fallon, president and chief executive officer. “We saw a continuation of healthy tributary adapter module purchases by a broad base of customers looking to meet their current bandwidth growth needs. The MSO space—which we placed a strategic focus on several years ago—was especially strong with two customers from that category in our top 5 customer count. In addition, we saw growth in new optical capacity deployments by our customers, establishing a base for future TAM purchases.”
“On the new product front, we made excellent progress in the development of our next-generation 500Gbs/s PIC solution which will support 100G transmissions and on our 40G product with FlexCoherent technology. During this period of significant product development investment and transition to new products, we remain focused on delivering on our PIC-based digital optical strategy and product roadmap in order to generate the revenue growth necessary to achieve our long-term business model objectives.” http://www.infinera.com
