Infinera: 3Q Earnings Snapshot
SUNNYVALE, Calif. (AP) _ Infinera Corp. (INFN) on Tuesday reported a loss of $32.6 million in its third quarter.
On a per-share basis, the Sunnyvale, California-based company said it had a loss of 21 cents. Losses, adjusted for one-time gains and costs, came to 4 cents per share.
The results matched Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for a loss of 4 cents per share.
The communications equipment maker posted revenue of $200.4 million in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $210.8 million.
For the current quarter ending in December, Infinera expects its results to range from a loss of 30 cents per share to a loss of 26 cents per share.
The company said it expects revenue in the range of $315 million to $335 million for the fiscal fourth quarter.
Infinera shares have dropped roughly 2 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $6.23, a fall of 25 percent in the last 12 months.