Infinera

Sunnyvale, CA, United States
Sunnyvale, CA, United States
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News Article | May 4, 2017
Site: globenewswire.com

SUNNYVALE, Calif., May 04, 2017 (GLOBE NEWSWIRE) -- Infinera Corporation (Nasdaq:INFN), provider of Intelligent Transport Networks, today released financial results for its first quarter ended April 1, 2017. GAAP revenue for the quarter was $175.5 million compared to $181.0 million in the fourth quarter of 2016 and $244.8 million in the first quarter of 2016. GAAP gross margin for the quarter was 36.5% compared to 38.1% in the fourth quarter of 2016 and 47.5% in the first quarter of 2016. GAAP operating margin for the quarter was (21.6)% compared to (25.3)% in the fourth quarter of 2016 and 6.1% in the first quarter of 2016. GAAP net loss for the quarter was $(40.5) million, or $(0.28) per share, compared to a net loss of $(36.3) million, or $(0.25) per share, in the fourth quarter of 2016, and net income of $12.0 million, or $0.08 per diluted share, in the first quarter of 2016. Non-GAAP gross margin for the quarter was 40.3% compared to 41.8% in the fourth quarter of 2016 and 50.2% in the first quarter of 2016. Non-GAAP operating margin for the quarter was (11.4)% compared to (9.2)% in the fourth quarter of 2016 and 12.3% in the first quarter of 2016. Non-GAAP net loss for the quarter was $(21.7) million, or $(0.15) per share, compared to a net loss of $(17.0) million, or $(0.12) per share, in the fourth quarter of 2016, and net income of $28.0 million, or $0.19 per diluted share, in the first quarter of 2016. A further explanation of the use of non-GAAP financial information and a reconciliation of the non-GAAP financial measures to the GAAP equivalents can be found at the end of this release. “We started the year with a solid first quarter, exceeding our financial guidance and moving closer to bringing our new Infinite Capacity Engine products to market,” said Tom Fallon, Infinera's Chief Executive Officer. “With network architectures and customer requirements evolving rapidly, we are seeing increasing opportunities to deliver scalable network solutions that enable our customers’ go-to-market strategies. As we deliver new products in upcoming quarters and new optical engines every few years, I believe we are well positioned to extend our technology differentiation and return to delivering strong financial results.” Infinera will host a conference call for analysts and investors to discuss its first quarter 2017 results and its outlook for the second quarter of 2017 today at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). Interested parties may join the conference call by dialing 1-866-373-6878 (toll free) or 1-412-317-5101 (international). A live webcast of the conference call will also be accessible from the Events & Webcasts section of Infinera’s website at investors.infinera.com. Replay of the audio webcast will be available at investors.infinera.com approximately two hours after the end of the live call. Infinera provides Intelligent Transport Networks, enabling carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and automate optical network operations. Infinera’s end-to-end packet-optical portfolio is designed for long-haul, subsea, data center interconnect and metro applications. Infinera’s unique large scale photonic integrated circuits enable innovative optical networking solutions for the most demanding networks. To learn more about Infinera visit www.infinera.com, follow us on Twitter @Infinera and read our latest blog posts at blog.infinera.com. This press release contains certain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties. Such forward-looking statements include, without limitation, Infinera's ability to deliver scalable network solutions that enable its customers’ go-to-market strategies; Infinera’s expectations regarding the delivery of new products in upcoming quarters and new optical engines every few years; and Infinera’s belief that it is well positioned to extend its technology differentiation and return to delivering strong financial results. Forward-looking statements can also be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words. These statements are based on information available to Infinera as of the date hereof and actual results could differ materially from those stated or implied due to risks and uncertainties. The risks and uncertainties that could cause Infinera’s results to differ materially from those expressed or implied by such forward-looking statements include delays in the development and introduction of new products or updates to existing products and market acceptance of these products; the effects of increased customer consolidation; fluctuations in demand, sales cycles and prices for products and services, including discounts given in response to competitive pricing pressures, as well as the timing of purchases by our key customers; the effect that changes in product pricing or mix, and/or increases in component costs could have on Infinera’s gross margin; Infinera’s ability to respond to rapid technological changes; aggressive business tactics by Infinera’s competitors; Infinera's reliance on single and limited source suppliers; Infinera’s ability to protect Infinera’s intellectual property; claims by others that Infinera infringes their intellectual property; the effect of global macroeconomic conditions on Infinera's business; war, terrorism, public health issues, natural disasters and other circumstances that could disrupt the supply, delivery or demand of Infinera's products; and other risks and uncertainties detailed in Infinera’s SEC filings from time to time. More information on potential factors that may impact Infinera’s business are set forth in its Annual Report on Form 10-K for the year ended on December 31, 2016 as filed with the SEC on February 23, 2017, as well as subsequent reports filed with or furnished to the SEC from time to time. These reports are available on Infinera’s website at www.infinera.com and the SEC’s website at www.sec.gov. Infinera assumes no obligation to, and does not currently intend to, update any such forward-looking statements. Use of Non-GAAP Financial Information In addition to disclosing financial measures prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP), this press release and the accompanying tables contain certain non-GAAP measures that exclude non-cash stock-based compensation expenses, amortization of debt discount on Infinera’s convertible senior notes, the gain on the sale of a cost-method investment, amortization and impairment of acquired intangible assets, acquisition-related costs, and certain purchase accounting adjustments related to Infinera's acquisition of Transmode AB, which closed during the third quarter of 2015, along with related tax effects. Infinera believes these adjustments are appropriate to enhance an overall understanding of its underlying financial performance and also its prospects for the future and are considered by management for the purpose of making operational decisions. In addition, these results are the primary indicators management uses as a basis for its planning and forecasting of future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income (loss), basic and diluted net income (loss) per share, gross margin or operating margin prepared in accordance with GAAP. Non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles and are subject to limitations. For a description of these non-GAAP financial measures and a reconciliation to the most directly comparable GAAP financial measures, please see the section titled, “GAAP to Non-GAAP Reconciliations.” Infinera anticipates disclosing forward-looking non-GAAP information in its conference call to discuss its first quarter 2017 results, including an estimate of certain non-GAAP financial measures for the second quarter of 2017 that excludes non-cash stock-based compensation expenses, amortization of acquired intangible assets and amortization of debt discount on Infinera’s convertible senior notes. A copy of this press release can be found on the Investor Relations page of Infinera’s website at www.infinera.com. Infinera and the Infinera logo are trademarks or registered trademarks of Infinera Corporation. All other trademarks used or mentioned herein belong to their respective owners. (1) Business combination accounting principles require Infinera to write down to fair value its maintenance support contracts assumed in the Transmode acquisition. The revenue for these support contracts is deferred and typically recognized over a one year period, so Infinera's GAAP revenue for the one year period after the acquisition will not reflect the full amount of revenue that would have been reported if the acquired deferred revenue was not written down to fair value. The non-GAAP adjustment eliminates the effect of the deferred revenue write-down. Management believes these adjustments to the revenue from these support contracts are useful to investors as an additional means to reflect revenue trends of Infinera's business. (2) Stock-based compensation expense is calculated in accordance with the fair value recognition provisions of Financial Accounting Standards Board Accounting Standards Codification Topic 718, Compensation – Stock Compensation effective January 1, 2006. The following table summarizes the effects of stock-based compensation related to employees and non-employees (in thousands): _____________________________ *      Stock-based compensation expense deferred to inventory and deferred inventory costs in prior periods and recognized in the current period. (3) Amortization of acquisition-related intangible assets consists of amortization of developed technology, trade names, and customer relationships acquired in connection with the Transmode acquisition. U.S. GAAP accounting requires that acquired intangible assets are recorded at fair value and amortized over their useful lives. As this amortization is non-cash, Infinera has excluded it from its non-GAAP operating expenses, gross margin and net income measures. Management believes the amortization of acquired intangible assets is not indicative of ongoing operating performance and its exclusion provides a better indication of Infinera's underlying business performance. (4) Acquisition-related costs associated with the Transmode acquisition include legal, financial, employee retention costs and other professional fees incurred in connection with the transaction, including squeeze-out proceedings. These amounts have been adjusted in arriving at Infinera's non-GAAP results because management believes that these expenses are non-recurring, not indicative of ongoing operating performance and their exclusion provides a better indication of Infinera's underlying business performance. (5) Acquired in-process research and development (IPR&D) impairment is associated with intangibles acquired with the Transmode acquisition, which Infinera does not anticipate utilizing in future products. Management has excluded the impact of this charge in arriving at Infinera's non-GAAP results because it is non-recurring and management believes that these expenses are not indicative of ongoing operating performance. (6) Intangible asset impairment is associated with previously acquired intangibles, which Infinera has determined that the carrying value will not be recoverable. Management has excluded the impact of this charge in arriving at Infinera's non-GAAP results because it is non-recurring and management believes that these expenses are not indicative of ongoing operating performance. (7) Under GAAP, certain convertible debt instruments that may be settled in cash on conversion are required to be separately accounted for as liability (debt) and equity (conversion option) components of the instrument in a manner that reflects the issuer's non-convertible debt borrowing rate. Accordingly, for GAAP purposes, Infinera is required to amortize as debt discount an amount equal to the fair value of the conversion option that was recorded in equity as interest expense on its $150 million in aggregate principal amount of 1.75% convertible debt issuance in May 2013 over the term of the notes. Interest expense has been excluded from Infinera's non-GAAP results because management believes that this non-cash expense is not indicative of ongoing operating performance and provides a better indication of Infinera's underlying business performance. (8) The gain on the sale of a cost-method investment has been excluded in arriving at Infinera's non-GAAP results because it is non-recurring and management believes that this gain is not indicative of ongoing operating performance. (9) The difference between the GAAP and non-GAAP tax is due to the net tax effects of the purchase accounting adjustments, acquisition-related costs, amortization of acquired intangible assets and the IPR&D impairment related to the Transmode acquisition. (1) Non-GAAP adjustments include non-cash stock-based compensation expense, certain purchase accounting adjustments related to Infinera's acquisition of Transmode and amortization of acquired intangible assets. For a description of this non-GAAP financial measure, please see the section titled, “GAAP to Non-GAAP Reconciliations” of this press release for a reconciliation to the most directly comparable GAAP financial measures. (2) Infinera calculates non-GAAP inventory turns as annualized non-GAAP cost of revenue before adjustments for non-cash stock-based compensation expense and certain purchase accounting adjustments, divided by the average inventory for the quarter.


News Article | May 17, 2017
Site: globenewswire.com

SUNNYVALE, Calif., May 17, 2017 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN), a provider of Intelligent Transport Networks, announced that it will participate in the following webcasted investor conference: J.P. Morgan 2017 Technology, Media and Telecom Conference Date:  Monday, May 22, 2017 Presentation:  3:40pm ET / 12:40pm PT Speakers: Brad Feller, CFO; Jeff Hustis, Director of Investor Relations Location: Boston, MA Webcast: investors.infinera.com and click on "Events" About Infinera Infinera provides Intelligent Transport Networks, enabling carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and simplify optical network operations. Infinera’s end-to-end packet-optical portfolio is designed for long-haul, subsea, data center interconnect and metro applications. Infinera’s unique large scale photonic integrated circuits enable innovative optical networking solutions for the most demanding networks. To learn more about Infinera visit www.infinera.com, follow us on Twitter @Infinera and read our latest blog posts at blog.infinera.com. Infinera and the Infinera logo are registered trademarks of Infinera Corporation.


News Article | May 17, 2017
Site: globenewswire.com

SUNNYVALE, Calif., May 17, 2017 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN), a provider of Intelligent Transport Networks, announced that it will participate in the following webcasted investor conference: J.P. Morgan 2017 Technology, Media and Telecom Conference Date:  Monday, May 22, 2017 Presentation:  3:40pm ET / 12:40pm PT Speakers: Brad Feller, CFO; Jeff Hustis, Director of Investor Relations Location: Boston, MA Webcast: investors.infinera.com and click on "Events" About Infinera Infinera provides Intelligent Transport Networks, enabling carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and simplify optical network operations. Infinera’s end-to-end packet-optical portfolio is designed for long-haul, subsea, data center interconnect and metro applications. Infinera’s unique large scale photonic integrated circuits enable innovative optical networking solutions for the most demanding networks. To learn more about Infinera visit www.infinera.com, follow us on Twitter @Infinera and read our latest blog posts at blog.infinera.com. Infinera and the Infinera logo are registered trademarks of Infinera Corporation.


News Article | May 17, 2017
Site: globenewswire.com

SUNNYVALE, Calif., May 17, 2017 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN), a provider of Intelligent Transport Networks, announced that it will participate in the following webcasted investor conference: J.P. Morgan 2017 Technology, Media and Telecom Conference Date:  Monday, May 22, 2017 Presentation:  3:40pm ET / 12:40pm PT Speakers: Brad Feller, CFO; Jeff Hustis, Director of Investor Relations Location: Boston, MA Webcast: investors.infinera.com and click on "Events" About Infinera Infinera provides Intelligent Transport Networks, enabling carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and simplify optical network operations. Infinera’s end-to-end packet-optical portfolio is designed for long-haul, subsea, data center interconnect and metro applications. Infinera’s unique large scale photonic integrated circuits enable innovative optical networking solutions for the most demanding networks. To learn more about Infinera visit www.infinera.com, follow us on Twitter @Infinera and read our latest blog posts at blog.infinera.com. Infinera and the Infinera logo are registered trademarks of Infinera Corporation.


News Article | May 17, 2017
Site: globenewswire.com

SUNNYVALE, Calif., May 17, 2017 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN), a provider of Intelligent Transport Networks, announced that it will participate in the following webcasted investor conference: J.P. Morgan 2017 Technology, Media and Telecom Conference Date:  Monday, May 22, 2017 Presentation:  3:40pm ET / 12:40pm PT Speakers: Brad Feller, CFO; Jeff Hustis, Director of Investor Relations Location: Boston, MA Webcast: investors.infinera.com and click on "Events" About Infinera Infinera provides Intelligent Transport Networks, enabling carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and simplify optical network operations. Infinera’s end-to-end packet-optical portfolio is designed for long-haul, subsea, data center interconnect and metro applications. Infinera’s unique large scale photonic integrated circuits enable innovative optical networking solutions for the most demanding networks. To learn more about Infinera visit www.infinera.com, follow us on Twitter @Infinera and read our latest blog posts at blog.infinera.com. Infinera and the Infinera logo are registered trademarks of Infinera Corporation.


News Article | May 17, 2017
Site: globenewswire.com

SUNNYVALE, Calif., May 17, 2017 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN), a provider of Intelligent Transport Networks, announced that it will participate in the following webcasted investor conference: J.P. Morgan 2017 Technology, Media and Telecom Conference Date:  Monday, May 22, 2017 Presentation:  3:40pm ET / 12:40pm PT Speakers: Brad Feller, CFO; Jeff Hustis, Director of Investor Relations Location: Boston, MA Webcast: investors.infinera.com and click on "Events" About Infinera Infinera provides Intelligent Transport Networks, enabling carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and simplify optical network operations. Infinera’s end-to-end packet-optical portfolio is designed for long-haul, subsea, data center interconnect and metro applications. Infinera’s unique large scale photonic integrated circuits enable innovative optical networking solutions for the most demanding networks. To learn more about Infinera visit www.infinera.com, follow us on Twitter @Infinera and read our latest blog posts at blog.infinera.com. Infinera and the Infinera logo are registered trademarks of Infinera Corporation.


News Article | May 17, 2017
Site: globenewswire.com

SUNNYVALE, Calif., May 17, 2017 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN), a provider of Intelligent Transport Networks, announced that it will participate in the following webcasted investor conference: J.P. Morgan 2017 Technology, Media and Telecom Conference Date:  Monday, May 22, 2017 Presentation:  3:40pm ET / 12:40pm PT Speakers: Brad Feller, CFO; Jeff Hustis, Director of Investor Relations Location: Boston, MA Webcast: investors.infinera.com and click on "Events" About Infinera Infinera provides Intelligent Transport Networks, enabling carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and simplify optical network operations. Infinera’s end-to-end packet-optical portfolio is designed for long-haul, subsea, data center interconnect and metro applications. Infinera’s unique large scale photonic integrated circuits enable innovative optical networking solutions for the most demanding networks. To learn more about Infinera visit www.infinera.com, follow us on Twitter @Infinera and read our latest blog posts at blog.infinera.com. Infinera and the Infinera logo are registered trademarks of Infinera Corporation.


News Article | May 9, 2017
Site: globenewswire.com

SUNNYVALE, Calif., May 09, 2017 (GLOBE NEWSWIRE) -- Infinera, a provider of Intelligent Transport Networks, announced a successful subsea field test with Canalink across its subsea cable. The test, conducted with the Infinera Infinite Capacity Engine (ICE4) and featuring Infinera's fourth-generation photonic integrated circuit (PIC), demonstrated the capability to upgrade the cable capacity 13-fold. Canalink, a wholly-owned subsidiary of the ITER group, owns a system of undersea fiber optic cables that link the Canary Islands with the Iberian Peninsula and the western coast of Africa. Canalink also has exchange agreements with other operators, and participates in undersea cable consortia aiming to connect Europe with Africa, transforming Tenerife, and the D-Alix datacenter specifically, into a node for the massive exchange of neutral data traffic. The test was conducted on Canalink’s 1,393 kilometer subsea cable, linking the Conil landing point on the Spanish mainland with Tenerife in the Canary Islands. Conducted across three fully-loaded channel plans at 37.5 gigahertz (GHz), 50 GHz and 25 GHz channel spacing, the test validated advanced compensation techniques and new modulation schemes including: “The successful field test with Infinera demonstrated that we can achieve approximately 13 times more capacity than we initially estimated on our subsea link,” said Carlos Suárez, General Director of Canalink. “Infinera's Infinite Capacity Engine and its innovative technology designed for subsea operators prove that its deployment can enable us to protect our investment and maximize the use of our infrastructure.” “Infinera is committed to bringing advanced capabilities to the subsea market, and we are pleased to enable Canalink to maximize capacity on their systems,” said Scott Jackson, Infinera Vice President, Subsea Business Group. “This test validates the benefits of ICE4 Nyquist subcarriers and SD-FEC gain sharing, enabling subsea cables to move to higher modulation formats for increased fiber capacity and greater return on the asset.” Infinera introduced the Infinite Capacity Engine-based subsea platforms, including the XTS‑3300 and XTS‑3600 meshponders, and upgraded its DTN-X XTC Series to 12 terabits per second (Tb/s) earlier this year. The new platforms feature Infinera’s Advanced Coherent Toolkit (ACT), which delivers innovations including Nyquist subcarriers, SD-FEC gain sharing, and matrix-enhanced phase-shift keying (ME-PSK). About Infinera Infinera (NASDAQ:INFN) provides Intelligent Transport Networks, enabling carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and automate optical network operations. Infinera’s end-to-end packet-optical portfolio is designed for long-haul, subsea, data center interconnect and metro applications. Infinera’s unique large scale photonic integrated circuits enable innovative optical networking solutions for the most demanding networks. To learn more about Infinera visit www.infinera.com, follow us on Twitter @Infinera and read our latest blog posts at www.infinera.com/blog. Infinera and the Infinera logo are registered trademarks of Infinera Corporation. This press release contains forward-looking statements including, but not limited to the potential operational, technical and economic benefits of deploying Infinera products and solutions on subsea networks. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Actual results may vary materially from these expectations as a result of various risks and uncertainties. Information about these risks and uncertainties, and other risks and uncertainties that affect Infinera’s business, is contained in the risk factors section and other sections of Infinera’s Annual Report on Form 10-K for the year ended December 31, 2016 as filed with the SEC on February 23, 2017, as well subsequent reports filed with or furnished to the SEC. These reports are available on Infinera’s website at www.infinera.com and the SEC’s website at www.sec.gov. Infinera assumes no obligation to, and does not currently intend to, update any such forward-looking statements.


News Article | May 9, 2017
Site: globenewswire.com

SUNNYVALE, Calif., May 09, 2017 (GLOBE NEWSWIRE) -- Infinera, a provider of Intelligent Transport Networks, announced a successful subsea field test with Canalink across its subsea cable. The test, conducted with the Infinera Infinite Capacity Engine (ICE4) and featuring Infinera's fourth-generation photonic integrated circuit (PIC), demonstrated the capability to upgrade the cable capacity 13-fold. Canalink, a wholly-owned subsidiary of the ITER group, owns a system of undersea fiber optic cables that link the Canary Islands with the Iberian Peninsula and the western coast of Africa. Canalink also has exchange agreements with other operators, and participates in undersea cable consortia aiming to connect Europe with Africa, transforming Tenerife, and the D-Alix datacenter specifically, into a node for the massive exchange of neutral data traffic. The test was conducted on Canalink’s 1,393 kilometer subsea cable, linking the Conil landing point on the Spanish mainland with Tenerife in the Canary Islands. Conducted across three fully-loaded channel plans at 37.5 gigahertz (GHz), 50 GHz and 25 GHz channel spacing, the test validated advanced compensation techniques and new modulation schemes including: “The successful field test with Infinera demonstrated that we can achieve approximately 13 times more capacity than we initially estimated on our subsea link,” said Carlos Suárez, General Director of Canalink. “Infinera's Infinite Capacity Engine and its innovative technology designed for subsea operators prove that its deployment can enable us to protect our investment and maximize the use of our infrastructure.” “Infinera is committed to bringing advanced capabilities to the subsea market, and we are pleased to enable Canalink to maximize capacity on their systems,” said Scott Jackson, Infinera Vice President, Subsea Business Group. “This test validates the benefits of ICE4 Nyquist subcarriers and SD-FEC gain sharing, enabling subsea cables to move to higher modulation formats for increased fiber capacity and greater return on the asset.” Infinera introduced the Infinite Capacity Engine-based subsea platforms, including the XTS‑3300 and XTS‑3600 meshponders, and upgraded its DTN-X XTC Series to 12 terabits per second (Tb/s) earlier this year. The new platforms feature Infinera’s Advanced Coherent Toolkit (ACT), which delivers innovations including Nyquist subcarriers, SD-FEC gain sharing, and matrix-enhanced phase-shift keying (ME-PSK). About Infinera Infinera (NASDAQ:INFN) provides Intelligent Transport Networks, enabling carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and automate optical network operations. Infinera’s end-to-end packet-optical portfolio is designed for long-haul, subsea, data center interconnect and metro applications. Infinera’s unique large scale photonic integrated circuits enable innovative optical networking solutions for the most demanding networks. To learn more about Infinera visit www.infinera.com, follow us on Twitter @Infinera and read our latest blog posts at www.infinera.com/blog. Infinera and the Infinera logo are registered trademarks of Infinera Corporation. This press release contains forward-looking statements including, but not limited to the potential operational, technical and economic benefits of deploying Infinera products and solutions on subsea networks. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Actual results may vary materially from these expectations as a result of various risks and uncertainties. Information about these risks and uncertainties, and other risks and uncertainties that affect Infinera’s business, is contained in the risk factors section and other sections of Infinera’s Annual Report on Form 10-K for the year ended December 31, 2016 as filed with the SEC on February 23, 2017, as well subsequent reports filed with or furnished to the SEC. These reports are available on Infinera’s website at www.infinera.com and the SEC’s website at www.sec.gov. Infinera assumes no obligation to, and does not currently intend to, update any such forward-looking statements.


SUNNYVALE, Calif. and BOSTON, Sept. 20, 2017 (GLOBE NEWSWIRE) -- Infinera, a provider of Intelligent Transport Networks, and Seaborn Networks (Seaborn), a leading developer-owner-operator of submarine cable systems, announced the successful completion of a subsea field trial demonstrating the industry’s highest spectral efficiency on an ultra-long-haul subsea cable. The 8QAM trial demonstrated 4.5 bits per second per hertz on the Seabras-1 cable, owned and operated by Seaborn, with a distance of more than 10,500 kilometers (km), enabling up to 50 percent more capacity than systems without advanced coherent technologies such as Nyquist sub-carriers and SD-FEC gainsharing. This trial raises the bar for optical performance by delivering the industry’s highest spectral efficiency in a commercially shipping product. Infinera and Seaborn validated the performance of the Infinera XTS-3300 meshponder featuring the Advanced Coherent Toolkit (ACT) on the Seabras-1 submarine cable, helping Seaborn to maximize the return on its cable assets. Seabras-1 is one of the world’s longest uncompensated subsea cables, directly connecting North and South America. Seaborn is the exclusive operator of a Seabras-1 route that has deployed XTS-3300. The XTS-3300 is based on Infinera’s Infinite Capacity Engine 4 (ICE4) and is optimized for long-haul subsea applications. The groundbreaking performance of ICE4 technology incorporates unique technologies to boost capacity-reach performance including digitally synthesized Nyquist subcarriers, enhanced pre- and post-dispersion compensation, improved non-linear tolerance and SD-FEC gain sharing which is only possible with dual-channel DSPs like Infinera’s. These capabilities collectively support up to 18.2 terabits per second per fiber for distances over 10,000 km, powered by ICE4’s leadership in spectral efficiency. “This is an impressive achievement that far surpasses what we expected. Infinera has distinguished itself as an industry leader in delivering outstanding subsea optical performance,” said Larry W. Schwartz, Chairman and CEO, Seaborn Networks. “The Infinera XTS-3300 meshponders deliver industry-leading performance over Seabras-1 and validate Infinera's technology leadership in subsea transmission. The capacity upgrade maximizes our return on investment and further underscores the uniqueness of Seaborn’s capacity on Seabras-1.” “We are delighted with the performance of the XTS-3300 and the Infinite Capacity Engine 4 for subsea applications. The XTS-3300 delivers industry leading capacity-reach performance for our subsea customers where spectral efficiency is paramount and bandwidth demand is growing at more than 45 percent per year,” said Dave Welch, President and Co-Founder, Infinera. “Infinera delivers unparalleled optical performance, helping to enable the success of our customers as they transform their subsea networks to cloud scale.” About Seaborn Networks Seaborn Networks is a leading developer-owner-operator of independent submarine fiber optic cable systems, including Seabras-1 between New York and São Paulo, and ARBR between São Paulo and Buenos Aires (projected ready-for-service Q4 2018). www.seabornnetworks.com About Infinera Infinera (NASDAQ:INFN) provides Intelligent Transport Networks, enabling carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and automate optical network operations. Infinera’s end-to-end packet-optical portfolio is designed for long-haul, subsea, data center interconnect and metro applications. Infinera’s unique large scale photonic integrated circuits enable innovative optical networking solutions for the most demanding networks. To learn more about Infinera visit www.infinera.com, follow us on Twitter @Infinera and read our latest blog posts at www.infinera.com/blog. Infinera and the Infinera logo are registered trademarks of Infinera Corporation. This press release contains forward-looking statements including, but not limited to the technical capabilities and advantages of deploying Infinera solutions in subsea networks. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Actual results may vary materially from these expectations as a result of various risks and uncertainties. Information about these risks and uncertainties, and other risks and uncertainties that affect Infinera’s business, is contained in the risk factors section and other sections of Infinera’s Quarterly Report on Form 10-Q for the quarter ended July 1, 2017 as filed with the SEC on August 8, 2017, as well subsequent reports filed with or furnished to the SEC. These reports are available on Infinera’s website at www.infinera.com and the SEC’s website at www.sec.gov. Infinera assumes no obligation to, and does not currently intend to, update any such forward-looking statements.

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