TelecomTV TelecomTV
  • News
  • Videos
  • Channels
  • Events
  • Network Partners
  • Industry Insights
  • Directory
  • Newsletters
  • Digital Platforms and Services
  • Open RAN
  • Cloud Native Telco
  • Telcos and Public Cloud
  • The Green Network
  • Private Networks
  • Open Telco Infra
  • 5G Evolution
  • Access Evolution
  • Edgenomics
  • Network Automation
  • 6G Research and Innovation
  • Security
  • More Topics
  • Network Partners
  • Industry Insights
  • Directory
  • Newsletters
  • |
  • About
  • Contact
  • |
  • Connect with us
  • Digital Platforms and Services
  • Open RAN
  • Cloud Native Telco
  • Telcos and Public Cloud
  • The Green Network
  • Private Networks
  • Open Telco Infra
  • 5G Evolution
  • Access Evolution
  • Edgenomics
  • Network Automation
  • 6G Research & Innovation
  • Security
  • Connect with TelecomTV
  • About
  • Privacy
  • Help
  • Contact
  • Sign In Register Subscribe
    • Subscribe
    • Sign In
    • Register
  • Search

Access Evolution

Access Evolution

Infinera Corporation reports fourth quarter and fiscal 2021 financial results

Via Infinera Press Releases

Feb 17, 2022

SAN JOSE, Calif. -- Infinera Corporation (NASDAQ: INFN) today released financial results for its fourth quarter and fiscal year ended December 25, 2021.

GAAP revenue for the quarter was $400.3 million compared to $355.8 million in the third quarter of 2021 and $353.5 million in the fourth quarter of 2020.

GAAP gross margin for the quarter was 35.6% compared to 33.2% in the third quarter of 2021 and 35.7% in the fourth quarter of 2020. GAAP operating margin for the quarter was (2.5)% compared to (8.7)% in the third quarter of 2021 and (1.9)% in the fourth quarter of 2020.

GAAP net loss for the quarter was $(33.1) million, or $(0.16) per share, compared to $(53.8) million, or $(0.26) per share, in the third quarter of 2021, and $(9.9) million, or $(0.05) per share, in the fourth quarter of 2020.

Non-GAAP revenue for the quarter was $401.2 million compared to $356.8 million in the third quarter of 2021 and $354.4 million in the fourth quarter of 2020.

Non-GAAP gross margin for the quarter was 37.2% compared to 38.0% in the third quarter of 2021 and 37.6% in the fourth quarter of 2020. Non-GAAP operating margin for the quarter was 4.3% compared to 2.4% in the third quarter of 2021 and 6.6% in the fourth quarter of 2020.

Non-GAAP net income for the quarter was $5.7 million, or $0.03 per share, compared to net loss of $(3.0) million, or $(0.01) per share, in the third quarter of 2021, and a net income of $16.7 million, or $0.13 per share, in the fourth quarter of 2020.

GAAP revenue for the year was $1,425.2 million compared to $1,355.6 million in 2020. GAAP gross margin for the year was 34.9% compared to 30.2% in 2020. GAAP operating margin for the year was (6.1)% compared to (11.4)% in 2020. GAAP net loss for the year was $(170.8) million, or $(0.82) per share, compared to $(206.7) million, or $(1.10) per share, in 2020.

Non-GAAP revenue for the year was $1,429.1 million compared to $1,359.7 million in 2020. Non-GAAP gross margin for the year was 37.6% compared to 33.8% in 2020. Non-GAAP operating margin for the year was 2.1% compared to (0.5)% in 2020. Non-GAAP net loss for the year was $(8.8) million, or $(0.04) per share, compared to $(36.3) million, or $(0.19) per share, in 2020.

A further explanation of the use of non-GAAP financial information and a reconciliation of each of the non-GAAP financial measures to the most directly comparable GAAP financial measure can be found at the end of this press release.

Infinera CEO David Heard said, “Q4 was a pivotal quarter for us. We achieved record revenue and bookings for the company, and exited the year with substantial backlog. Our strong performance in the quarter was the perfect way to wrap-up 2021, a year in which we strengthened our portfolio, bolstered our management team, accelerated growth and expanded margins.”

“Looking ahead to 2022, we intend to build on the foundation we established in 2021,” continued Heard. “The demand drivers fueling our business are robust. While we expect the industry-wide supply chain challenges to remain intense through at least the first half of the year, we are focused on driving 8-12% revenue growth in 2022 and delivering on our longer-term target business model.”

Financial Outlook

Infinera's outlook for the quarter ending March 26, 2022 is as follows:

Revenue is expected to be $360 million +/- $15 million. GAAP gross margin is expected to be 34.0% +/- 150 bps. Non-GAAP gross margin is expected to be 37.0% +/- 150 bps. GAAP operating expenses are expected to be $151 million +/- $2 million. Non-GAAP operating expenses are expected to be $132 million +/- $2 million. GAAP operating margin is expected to be (7.6)% +/- 200 bps. Non-GAAP operating margin is expected to be 0.5% +/- 200 bps.

Related Topics
  • Access Evolution,
  • Global,
  • Infinera,
  • North America,
  • Optical,
  • Telecoms Vendors & OEMs,
  • Tracker

More Like This

Access Evolution

Telenor executes on the strategy

Feb 2, 2023

Access Evolution

Europe at risk of missing 2030 gigabit target – ETNO

Feb 2, 2023

Access Evolution

Sale of 30% of the Norwegian Fibre business completed

Feb 2, 2023

Access Evolution

BT Group plc board changes

Feb 2, 2023

5G Evolution

Qualcomm and Samsung Partner to Bring the Fastest Snapdragon Ever to Galaxy S23 Series Globally

Feb 1, 2023

This content extract was originally sourced from an external website (Infinera Press Releases) and is the copyright of the external website owner. TelecomTV is not responsible for the content of external websites. Legal Notices

Email Newsletters

Stay up to date with the latest industry developments: sign up to receive TelecomTV's top news and videos plus exclusive subscriber-only content direct to your inbox – including our daily news briefing and weekly wrap.

Subscribe

Top Picks

Highlights of our content from across TelecomTV today

0:46

The Cloud Native Telco Summit returns this September!

8:32

Azita Arvani on Being a Female Leader at Rakuten Symphony

16:19

AT&T Amy Zwarico on securing telco applications in the public cloud

1:44

Join us for the greatest industry debate of the year!

TelecomTV
Company
  • About Us
  • Media Kit
  • Contact Us
Our Brands
  • DSP Leaders World Forum
  • Great Telco Debate
  • TelecomTV Events
Get In Touch
[email protected]
+44 (0) 207 448 1070
Connect With Us
  • Privacy
  • Cookies
  • Terms of Use
  • Legal Notices
  • Help

TelecomTV is produced by the team at Decisive Media.

© Decisive Media Limited 2023. All rights reserved. All brands and products are the trademarks of their respective holder(s).