Infinera reports Q4 GAAP net income $12.9M; FY revenue up 2.6% YoY to $1.61B

Infinera Corp

2024-Q1 EPS reported -$0.27 revenue$306,922,000

Q4 GAAP revenue $453.5M, down 7% YoY from $485.9M; diluted EPS $0.06 vs $0.14 in Q4 2022.
Q4 Non-GAAP net income $28.6M ($0.12 diluted EPS) vs $40.3M ($0.16) in prior-year quarter.
FY 2023 GAAP revenue $1,614.1M (+2.6% YoY); GAAP net loss narrowed to $(25.2M) from $(76.0M) in 2022.
FY Non-GAAP net income $53.4M ($0.23 diluted EPS) vs $26.1M ($0.12) in 2022, doubling YoY.
GAAP gross margin improved to 38.6% in Q4 from 37.1% a year earlier; non-GAAP gross margin 39.6%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Infinera Corp reported Fiscal year ended December 30, 2023 results: net income 53.4 million, EPS 0.23.

Period: Fiscal year ended December 30, 2023
Net income: 53.4 million
EPS: 0.23
Result: reported results

Exact text from the filing

GAAP revenue for the year was $1,614.1 million compared to $1,573.2 million in 2022. GAAP gross margin for the year was 38.6% compared to 34.1% in 2022. GAAP operating margin for the year was (0.3)% compared to (3.8)% in 2022. GAAP net loss for the year was $(25.2) million, or $(0.11) per diluted share, compared to $(76.0) million, or $(0.35) per diluted share, in 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Infinera Corp reported Fiscal year ended December 30, 2023 results: net income 53.4 million, EPS 0.23.

Period: Fiscal year ended December 30, 2023
Net income: 53.4 million
EPS: 0.23
Result: reported results

Exact text from the filing

Non-GAAP net income for the year was $53.4 million, or $0.23 per diluted share, compared to $26.1 million, or $0.12 per diluted share, in 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Infinera Corp reported Fourth quarter ended December 30, 2023 results: net income 28.6 million, EPS 0.12.

Period: Fourth quarter ended December 30, 2023
Net income: 28.6 million
EPS: 0.12
Result: reported results

Exact text from the filing

GAAP revenue for the quarter was $453.5 million compared to $392.4 million in the third quarter of 2023 and $485.9 million in the fourth quarter of 2022. GAAP gross margin for the quarter was 38.6% compared to 40.3% in the third quarter of 2023 and 37.1% in the fourth quarter of 2022. GAAP operating margin for the quarter was 2.5% compared to 2.0% in the third quarter of 2023 and 5.2% in the fourth quarter of 2022. GAAP net income for the quarter was $12.9 million, or $0.06 per diluted share, compared to net loss of $(9.4) million, or $(0.04) per diluted share, in the third quarter of 2023, and net income of $33.5 million, or $0.14 per diluted share, in the fourth quarter of 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Infinera Corp reported Fourth quarter ended December 30, 2023 results: net income 28.6 million, EPS 0.12.

Period: Fourth quarter ended December 30, 2023
Net income: 28.6 million
EPS: 0.12
Result: reported results

Exact text from the filing

Non-GAAP net income for the quarter was $28.6 million, or $0.12 per diluted share, compared to $19.9 million, or $0.08 per diluted share, in the third quarter of 2023, and $40.3 million, or $0.16 per diluted share, in the fourth quarter of 2022.

View on SEC.gov

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Source: SEC EDGAR

accession 0001138639-24-000093

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