Infinera Corporation Reports Fourth Quarter and Fiscal Year 2010 Financial Results

Infinera Corporation

, a leading provider of digital optical communications systems, today released financial results for the fourth quarter and fiscal year ended December 25, 2010. Results for Q4 2010: GAAP revenues for the quarter were $117.1 million compared to $130.1 million in the third quarter of 2010 and $90.2 million in the fourth quarter of 2009. GAAP gross margins for the quarter were 49% compared to 50% in the third quarter of 2010 and 38% in the fourth quarter of 2009. GAAP net loss for the quarter was $2.7 million, or $(0.03) per share, compared to net income of $4.4 million, or $0.04 per basic and diluted share, in the third quarter of 2010 and a net loss of $18.7 million, or $(0.19) per share, in the fourth quarter of 2009. Non-GAAP gross margins for the quarter were 51%, the same as in the third quarter of 2010 and 40% in the fourth quarter of 2009. Non-GAAP net income for the quarter was $7.6 million, or $0.07 per diluted share, compared to net income of $18.7 million, or $0.18 per diluted share in the third quarter of 2010 and a net loss of $6.5 million, or $(0.07) per share, in the fourth quarter of 2009. These Non-G measures exclude restructuring and other related costs and non-cash stock-based compensation.