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Infinera profit misses consensus by 69.2% in fiscal Q1

Infinera Corp. said its normalized net income for the fiscal first quarter ended March 26 was 5 cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS declined 11.0% year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.7 million, a decline from $8.1 million in the year-earlier period.

The normalized profit margin dropped to 3.2% from 4.3% in the year-earlier period.

Total revenue climbed 31.0% year over year to $244.8 million from $186.9 million, and total operating expenses grew 33.9% year over year to $229.9 million from $171.7 million.

Reported net income declined 4.9% from the prior-year period to $11.8 million, or 8 cents per share, from $12.4 million, or 9 cents per share.