Infinera gains 13% in pre-market after swinging to Q2 profit

Infinera Corp. (Nasdaq:INFN) is up 13% in pre-market trading today after the company reported profitable second-quarter earnings after the close on Tuesday. For the quarter ended June 28, net income was $42.9 million, or $0.44 per share, compared with a net loss of $26.1 million, or $1.10 a share, for the quarter a year earlier. Revenues for the Sunnyvale, Calif.-based provider of optical communication networks were $161.1 million compared with $58.4 million for the same period a year earlier. Analysts had been expecting a loss of $0.03 per share on revenues of $89.2 million.

“Our second quarter results reflect strong shipments of both our chassis and tributary adapter modules,” said Jagdeep Singh, president and CEO, in a statement. “We grew revenues from international customers to 22% and added two new customers in the quarter to bring our total roster to 44. We generated operating profits and cash from operations while maintaining our investments to expand our technology lead as the world's leading optical network based on photonic integration.”

Ahead of the opening, shares of Infinera are at $10.20, up $1.21 from Tuesday’s close. Shares have ranged from $7.79 to $27.12 during the past year.

For detailed price information and recent news stories about Infinera Corp., click INFN.

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