UPDATE: EXFO Announces Poor Preliminary Third-Quarter Results

EXFO Inc.

announced today preliminary financial results for the third quarter ended May 31, 2012. Revenue for the third quarter of fiscal 2012 is expected to be around US$60.0 million compared to EXFO's previous guidance of US$68.0 million to US$73.0 million. Given the lower-than-anticipated revenue level for the third quarter of 2012, EXFO's gross margin will be negatively affected and IFRS net earnings will end below the company's initial outlook of US$0.01 to US$0.05 per diluted share. EXFO will report its complete results for the third quarter of fiscal 2012 after the close of markets on June 28, 2012. All financial numbers provided in this news release are preliminary and subject to review.