Infinera banks on DTN-X switching platform sales in Q3
Infinera (Nasdaq: INFN) on Wednesday reported that Q3 2012 GAAP revenues were $112.2 million, up sequentially from $93.5 million in Q2 2012 and $104.0 million in Q3 2011.
Third quarter company GAAP gross margin was 37 percent, up 2 percent from 35 percent in Q2 2012 but down from 39 percent in Q3 2011.
Meanwhile, GAAP net loss for the 2012 third quarter was $19.1 million, or $0.17 per share, compared to net loss of $29.5 million, or $0.27 per share, in the second quarter of 2012 and net loss of $21.8 million, or $0.21 per share, in the third quarter of 2011.
Key to Infinera's growth for Q3 and beyond is its DTN-X, a 100G converged WDM/OTN switching platform, which is in the process of being used by 16 customers.
"We now have 16 purchase commitments, representing five new customers and 11 existing customers," said Tom Fallon, president and chief executive officer, in the earnings release. "These commitments come from customers in North America, Europe and Asia Pacific and include commitments from all of our vertical markets."
Fallon added that it "began recognizing revenue from this platform in the third quarter" with three new DTN customers it signed during the quarter.
- see the release
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