Time New York: Sat 18 Nov 01:37 am  |  Save 15% on H&R Block Online

  
caticonslite_bm_alt

Infinera (INFN) Beats Earnings & Revenue Estimates in Q3

Zacks

Infinera Corp. INFN reported narrower-than-expected loss in third-quarter 2017. The company’s top also surpassed the Zacks Consensus Estimate.

The company reported net loss on a GAAP basis of $37.2 million or a loss of 25 cents per share as against the net income of $11.2 million or 8 cents in the year-ago quarter. Infinera’s adjusted loss of 11 cents was narrower than the Zacks Consensus Estimate of a loss of 16 cents.

Infinera Corporation Price, Consensus and EPS Surprise


Infinera Corporation Price, Consensus and EPS Surprise | Infinera Corporation Quote

Total revenues were $192.6 million, up 3.8% year over year, beating the Zacks Consensus Estimate of $190 million. Segment-wise, product revenues were $159.6 million, up 2.2% year over year. Services revenues increased 12.8% to nearly $33.0 million. Domestic revenues contributed 59% to the total revenues, while the remaining 41% was generated from international markets.

Total operating expenses in the reported quarter were $102.07 million, up from $95.5 million in third-quarter 2016.

In the quarter under review, Infinera’s cash from operations was a negative $37.23 million as compared with a loss of $11.3 million in the prior-year quarter.

At the end of the said quarter, Infinera had $122.04 million of cash and cash equivalents compared with $162.64 million at the end of 2016. Total debt at the end of third-quarter 2017 was $141.99 million compared with $133.59 million at the end of 2016.

The company provides digital optical networking systems to telecommunication carriers, cable operators and other service providers worldwide. It faces direct competition from the likes of Extreme Networks Inc. EXTR, NETGEAR Inc. NTGR and Brocade Communications Systems Inc. BRCD. All these stocks currently carry a Zacks Rank #3 (Hold), while NETGEAR has a Zacks Rank #5 (Strong Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 – Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 – Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

See Them Free>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

Zacks Investment Research
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.