Q2 comes out good, on the surface

Craig Matsumoto, Editor-in-Chief, Light Reading

July 22, 2008

1 Min Read
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

About the Author(s)

Craig Matsumoto

Editor-in-Chief, Light Reading

Yes, THAT Craig Matsumoto – who used to be at Light Reading from 2002 until 2013 and then went away and did other stuff and now HE'S BACK! As Editor-in-Chief. Go Craig!!

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