Infinera Scores

5:30 PM -- Infinera Corp. (Nasdaq: INFN) seems to have blown past expectations for its June quarter. Earnings that came in today show net income (non-GAAP) of 11 cents per share versus an expected 1 cent per share. Stock's up 11 percent after hours.

Revenues -- actually, "invoiced shipments" -- of $90.8 million were on a par with analysts' lowered expectations. (See Infinera Wins DT, Loses the Day.)

The previous (March) quarter's invoiced shipments of $95.5 million look like a high-water mark for the year. Analysts polled by Reuters don't see Infinera reaching that level again until the June quarter of 2009. Some of Infinera's North American customers are slowing down their purchasing pace -- not including star customer Level 3 Communications Inc. (NYSE: LVLT), though. (See Infinera's Numbers.)

— Craig Matsumoto, West Coast Editor, Light Reading

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