Telecoms ♦ news digest
various aspects of JDSU culture that foster both innovation and collaboration at the company. Topics include the JDSU Innovation Council, JDSU customer service and employee culture at the company.
“Collaboration with suppliers like JDSU provides a strategic advantage to Infinera,” said Tom Fallon, CEO at Infinera.”Together we bring innovative solutions to market that unleash the market potential of optical transport networks for global network operators.”
“At JDSU, collaborative innovation starts with understanding our customers’ needs and working together on a daily basis to create successful solutions,” said Alan Lowe, president of the CCOP business segment at JDSU. “Infinera is an important customer for JDSU because they help us drive innovation and stay ahead the curve in terms of what the optical communications industry needs now and in the future.”
Silicon Valley Bank increases credit facility to Advanced Photonix
The new facility is initially comprised of a three year term note of $1 million, and a two year $5 million revolving line of credit
As part of this new banking relationship, Advanced Photonix has repaid the short term note and line of credit previously held by The PrivateBank and Trust.
Richard Kurtz, President and CEO commented, “We are pleased to have established this new relationship with Silicon Valley Bank, a strong bank with a rich history of working with growing high technology businesses like API. I would also like to thank The PrivateBank and Trust for their support over the past four years. This new credit facility makes possible an increase in foreign receivable coverage up to $3 million as part of the $5 million total line. This increase in total credit facility will help us fund our growth, including our international revenue growth. We are very pleased with our new relationship with Silicon Valley bank, both for their commitment to API in particular and deep
understanding of the high technology market.”
“We aim to increase the probability of our clients’ success and we’re looking forward to working closely with the Advanced Photonix team as they continue to grow,” said Mike Kohnen, Senior Relationship Manager, Silicon Valley Bank. “Since we are focused on technology innovators like API, we are able to provide them with the services and financing they need to expand internationally and tackle their ambitious goals.”
Advanced Photonix is a supplier of optoelectronic products including high-speed optical receivers and terahertz instrumentation for telecom, homeland security, military, medical and industrial markets.
Infinera net losses swell from $2.7 million to $19.4 million
Development of its recently launched indium phosphide based DTN-X remains on track with trials in Q1 and volume production expected to start in Q2 2012
Infinera Corporation, a provider of InP based digital optical communications systems, has released financial results for the fourth quarter and fiscal year ended December 31, 2011.
GAAP revenues for the quarter were $112.0 million compared to $117.1 million in the fourth quarter of 2010. GAAP gross margins for the quarter were 40% compared to 49% in the fourth quarter of 2010.
GAAP net loss for the quarter was $(19.4) million, or $(0.18) per share, compared to a net loss of $(2.7) million, or $(0.03) per share, in the fourth quarter of 2010. GAAP revenues for the year were $404.9 million compared to $454.4 million in 2010.
GAAP gross margins for the year were 41% compared to 45% in 2010. GAAP net loss for the year was $(81.7) million, or $(0.78) per share compared to $(27.9) million, or $(0.28) per share in 2010.
“Our fourth quarter revenue performance was higher than our expectations, and reflects continued solid demand from customers for Infinera’s unique digital optical networks including cable, Tier One
March 2012
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