Sunday, November 29, 2009

EXFO Raises Financial Guidance

Citing a stronger-than-anticipated US dollar versus Canadian dollar and higher sales volume, EXFO Electro-Optical Engineering now expects GAAP net earnings to finish between US$0.00 and US$0.01 per diluted share for the first quarter of fiscal 2010. The company had previously forecasted a GAAP net loss between US$0.06 and US$0.02 per share, partially based on an anticipated pre-tax, foreign exchange loss of US$0.03 per share to account for the significant weakness of the US dollar in days preceding the issuing of company guidance on October 13, 2009.

EXFO also anticipates that revenues will fall between US$45 and US$46 million for the first quarter of fiscal 2010, slightly above the US$40 to US$45 million guidance range, due to stronger bookings than expected. The company's book-to-bill ratio is expected to be above 1 for the quarter.