Infinera Q3 Preliminary Results Above Street

(RTTNews) - Infinera Corp. (INFN) Wednesday released preliminary financial results for its third quarter, with both revenues adjusted earnings expected to beat Street view.

Preliminary revenue for the third quarter is expected to be $378 million to $392 million, ahead of the midpoint of the company's prior outlook of $361 million to $391 million.

The company expects to report a loss per share of $0.07 to $0.02, ahead of the company's prior outlook of a loss per share of $0.17 to $0.09.

For the the third quarter, the company now expects adjusted earnings of $0.03 to $0.08 per share, previously the company expected between a loss of $0.06 and an earnings of $0.02 per share.

Analysts polled by Thomson Reuters currenlty expect a loss of $0.01 per share and revenues of $376.55 million for the third quarter.

Infinera CEO David Heard said, "The third quarter was another solid quarter for us, with all key preliminary financial metrics - revenue, gross margin, operating margin, and EPS, expected to be ahead of the midpoint of our outlook range. Bookings were strong in the quarter with a book-to-bill ratio above 1, based on our preliminary revenue range."

For the fourth quarter, the company expects revenues of $421 million to $451 million, earnings to between a loss of $0.04 per share and an earnings of $0.04 per share, and adjusted income of $0.05 to $0.13 per share.

Analysts currenlty expect earnings of $0.11 per share and revenues of $436.09 million for the fourth quarter.