Monday, July 30, 2007

Infinera Posts Q2 Revenue of $58.4 million

Infinera reported Q2 revenues of $58.4 million, compared to $49.2 million in the first quarter of 2007. Gross margins were 28% in Q2, compared to 24% in Q1. Including non-cash stock-based compensation and warrant revaluation expenses, the net loss was $26.1 million, or $1.10 per share, compared to a net loss of $19.8 million, or $2.62 per share, in the first quarter of 2007.

Infinera added five new customers in the quarter, bringing its total customer roster to 31.

"We are pleased with Infinera's second quarter performance -- our first quarter as a public company -- as it reflects our continued success in establishing ourselves as a leading systems company in the optical networking industry," said Jagdeep Singh, chief executive officer of Infinera.