Infinera (Nasdaq: INFN) reported on Tuesday that Q4 2012 GAAP revenues rose sequentially to $128.1 million as it saw continued customer adoption of its emerging DTN-X optical platform.
Fourth quarter GAAP revenues were $128.1 million, up from $112.2 million in Q3 2012 and $112 million in Q4 2011.
On a regional market basis, international revenues totaled $47 million or 37 percent of total revenues for the quarter. Out of that figure, EMEA made up $40 million or 31 percent, while APAC and the other Americas represented 3 percent.
A key piece of Infinera's revenue mix is the DTN-X platform, which continues to gain traction in a number of Tier 1 U.S. and international accounts, including Cable & Wireless and CenturyLink.
During the quarter, Infinera won contracts with an additional seven customers, one of which was a "new invoice customer to Infinera." Overall, it has purchase commitments from 22 customers.
One of the key wins that Infinera reported in the U.S. for its DTN-X platform was CenturyLink (NYSE: CTL), which upgraded its domestic and international networks with 100G capabilities last November. CenturyLink chose Infinera as one of its optical platforms to support its growing base of 100 GigE services for data center transport and end-user business customers that are requesting larger Ethernet pipes.
"CenturyLink chose Infinera's DTN-X, featuring 500-gigabit per second long-haul super channels, to enhance its nationwide, next-generation backbone transport network," Tom Fallon, president and chief executive officer, during the earnings call. "This network will support critical video, mobile and cloud IP services, and extend their ability to deliver up to 100-gigabit Ethernet services to data centers and customer facilities around the country."
Complementing its win with CenturyLink, the third largest RBOC, Infinera also recently completed the OSMINE certification process with Ericsson for its DTN-X and DTN platforms. With the OSMINE process complete, the vendor's products can Infinera will be able interoperate with U.S.-based Tier 1 telcos' existing back office systems.
On the international front, it has been no less aggressive.
KDDI Corp. and TeliaSonera International Carrier and have both selected the DTN-X platform with its "Instant Bandwidth" capability. Instant Bandwidth allows service providers to quickly provision additional 100G network capacity with its one-click software feature.
Although the DTN-X is driving the majority of growth at Infinera, Fallon said that it continues to demand for its DTN platform.
"We added 4 new invoiced DTN customers in the fourth quarter, for a total invoice customer count of 111," Fallon said. "We also had 3 customers announce the availability of 100-gig e-services on the DTN in the fourth quarter, showing the extensibility of the DTN's digital optical architecture.
Looking ahead, Infinera said that the seasonality related to Q1 could have an impact on the timing of bookings and revenue. The vendor has forecast Q1 revenues between $115 million to $125 million, representing 12 percent growth on a year-over-year basis.
Infinera's shares were trading at $7.29, down 0.22, or 2.93 percent in pre-market trading on the Nasdaq stock exchange.
- see the release
- here's the earnings transcript (sub req)
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