Infinera reported Q3 revenue (GAAAP) of $142.0 million compared to $138.4 million in the second quarter of 2013 and $112.2 million in the third quarter of 2012. GAAP gross margin for the third quarter of 2013 was 48% compared to 37% in the second quarter of 2013 and 37% in the third quarter of 2012. GAAP net income for the quarter was $3.3 million, or $0.03 per diluted share, compared to a net loss of $(10.0) million, or $(0.09) per share, in the second quarter of 2013 and a net loss of $(19.1) million, or $(0.17) per share, in the third quarter of 2012.
“DTN-X adoption continued to drive strong financial results in the third quarter. We generated solid revenue growth and achieved positive cash flow from operations, with both gross margin and profitability exceeding our expectations,” said Tom Fallon, chief executive officer. “During the quarter, we received purchase commitments from five additional customers, including two new to Infinera, bringing our total DTN-X customer count to 39."
Separately, Infinera also announced that company CFO, Ita Brennan, will resign effective February 28, 2014 to pursue another opportunity at a technology start-up. Ms. Brennan has served as Infinera’s CFO since June 2010.