Infinera Corp. Q1 Loss Increases, misses estimates

(RTTNews) - Infinera Corp. (INFN) announced Loss for first quarter that decreased from last year but missed the Street estimates.

The company's bottom line came in at -$41.85 million, or -$0.20 per share. This compares with -$48.32 million, or -$0.24 per share, in last year's first quarter.

Excluding items, Infinera Corp. reported adjusted earnings of -$14.02 million or -$0.07 per share for the period.

Analysts on average had expected the company to earn -$0.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.4% to $338.87 million from $330.91 million last year.

Infinera Corp. earnings at a glance (GAAP) :

-Earnings (Q1): -$41.85 Mln. vs. -$48.32 Mln. last year. -EPS (Q1): -$0.20 vs. -$0.24 last year. -Analyst Estimates: -$0.04 -Revenue (Q1): $338.87 Mln vs. $330.91 Mln last year.

-Guidance: Next quarter revenue guidance: $330 - $370 Mln