Infinera Meets (Low) Q2 Targets

Infinera Corp. (Nasdaq: INFN) lost money in its second quarter, as expected, as customers and investors continue to wait for the company's 40Gbit/s and 100Gbit/s products.

For the quarter ended June 25, Infinera reported revenues of $96 million and a net loss of $24.2 million, or 23 cents per share. In the same quarter last year, Infinera reported revenues of $111.4 million and a loss of $9.6 million, or 10 cents per share.

Infinera's non-GAAP losses of 11 cents per share met analyst expectations exactly, as tallied by Thomson Reuters . Revenues barely exceeded the consensus estimate of $94.5 million.

Infinera could be in for a rough 2011, as the company has admitted it's missing some short-term business because it doesn't offer 40Gbit/s ports. Analysts don't expect the company to break even (on a non-GAAP basis) before the second quarter of 2012.

Infinera shares were up 21 cents (3.2%) at $6.78 early in Tuesday's after-hours trading.

— Craig Matsumoto, West Coast Editor, Light Reading