Infinera Q1 preliminary revenue $306.9M, GAAP net loss $(0.27)/share; sharp decline from prior quarters

Infinera Corp

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

GAAP revenue $306.9M, down 32.3% QoQ from $453.5M in Q4 2023; GAAP gross margin 36.0%.
GAAP net loss $(61.4)M ($(0.27)/diluted share) vs net income of $12.9M ($0.06) in Q4 2023.
Non-GAAP net loss $(38.3)M ($(0.17)/diluted share) vs non-GAAP net income of $28.6M ($0.12) in Q4 2023.
GAAP operating margin (14.0)% vs 2.5% in Q4 2023; generated $24.0M operating cash flow and $16.0M free cash flow.

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 0.95

Infinera Corp reported first quarter ended March 30, 2024 results: revenue $306.9 million, net income $(61.4) million, or $(0.27) per diluted share, EPS $(0.27) per diluted share.

Period: first quarter ended March 30, 2024
Revenue: $306.9 million
Net income: $(61.4) million, or $(0.27) per diluted share
EPS: $(0.27) per diluted share
Result: preliminary results

Exact text from the filing

final quarterly review process and may change as a result of new information that arises, or new determinations that are made, in this process. GAAP revenue for the quarter was $306.9 million compared to $453.5 million in the fourth quarter of 2023 and $392.1 million in the first quarter of 2023. GAAP gross margin for the quarter was 36.0% compared to 38.6% in the

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Source: SEC EDGAR

accession 0001138639-24-000097

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