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EXFO Reports Fiscal Q1

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QUEBEC CITY -- EXFO Inc. (NASDAQ: EXFO; TSX: EXF) reported today financial results for the first quarter ended November 30, 2013 . Sales reached US$56.0 million in the first quarter of fiscal 2014 compared to US$59.8 million in the first quarter of 2013 and US$60.9 million in the fourth quarter of 2013.

Bookings attained US$57.9 million in the first quarter of fiscal 2014 compared to US$64.3 million in the same period last year and US$54.0 million in the fourth quarter of 2013. The company's book-to-bill ratio was 1.03 in the first quarter of 2014.

Gross margin* amounted to 62.2% of sales in the first quarter of fiscal 2014 compared to 60.5% in the first quarter of 2013 and 62.9% in the fourth quarter of 2013.

IFRS net loss in the first quarter of fiscal 2014 totaled US$0.7 million , or US$0.01 per share, compared to a net loss of US$1.6 million , or US$0.03 per share, in the same period last year and net earnings of US$3.8 million , or US$0.06 per diluted share, in the fourth quarter of 2013. IFRS net loss in the first quarter of 2014 included US$1.1 million in after-tax amortization of intangible assets, a foreign exchange gain of US$0.8 million and US$0.5 million in stock-based compensation costs.

Adjusted EBITDA totaled US$2.3 million , or 4.1% of sales, in the first quarter of fiscal 2014 compared to US$2.7 million , or 4.5% of sales, in the first quarter of 2013 and US$7.1 million , or 11.6% of sales, in the fourth quarter of 2013.

EXFO Inc. (Nasdaq: EXFO; Toronto: EXF)

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