FY'24 Highlights: Year-over-year growth in bookings and backlog; book-to-bill ratio of approximately 1.1x for FY'24 and 1.3x for Q4'24Record revenue with webscalers - total revenue exposure (direct and indirect) greater than 50% of FY'24 revenueSignificant design wins across the GX systems portfolio with webscalers and Tier 1 Communications Service Providers (CSPs)Substantial awards for ICE-X 400G and 800G pluggables from webscalers and Tier 1 CSPsLaunched ICE-D to address the projected multi-billion dollar intra-data center opportunity driven by AI workloadsSecured CHIPS & Science Act funding with the potential for greater than $200 million in total federal ince

DENVER and SAN JOSE, Calif., Feb. 18, 2025 (GLOBE NEWSWIRE) -- Zayo and Infinera (NASDAQ:INFN) announced today the successful completion of a live network trial using Infinera's ICE7, a seventh-generation embedded optical engine, to deliver 1 Tb/s single 150GHz wavelength transmission over 1,391 kilometers (km) on a major North American route between Sacramento, CA and Salt Lake City. This achievement will enable Zayo to deliver a record-setting 32 terabits of C-Band capacity across this link, with the ability to double bandwidth to 64 terabits with L-Band. Powered by Infinera's innovative ICE7 optical engine, this trial signals a major industry milestone, demonstrating the power and abili

SAN JOSE, Calif., Feb. 18, 2025 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) ("Infinera") today announced that its pending acquisition (the "Transaction") by Nokia Corporation ("Nokia") is anticipated to be completed on or about February 28, 2025, which date remains subject to receipt of remaining outstanding regulatory approvals and the satisfaction of other remaining customary closing conditions. Based on the anticipated February 28, 2025 completion date, Infinera today also announced that the deadline to revoke a previously made election with respect to the form of merger consideration to be received in the Transaction is 5:00 p.m., New York City time, on February 21, 2025 (t

SAN JOSE, Calif., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that C3ntro Telecom (C3ntro), Mexico's leading provider in AI-enabled fiber networks and data center connectivity solutions in Mexico and the U.S., successfully deployed Infinera's GX Series-based ICE6 800G solution and GX Open Line System (GX OLS) to upgrade and connect its long-haul network between Mexico City and Queretaro and interconnect all data centers across both cities with a groundbreaking capacity of 1.6 Tb/s (2x800G) optical redundant transmission. The upgraded network will offer new and enhanced data center services in key markets in Mexico to meet the increasing demands of its customers

SAN JOSE, Calif., Jan. 07, 2025 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that it has been awarded a Gold Medal by EcoVadis, a trusted provider of business sustainability ratings globally, in recognition of Infinera's progress toward its environmental, social, and governance (ESG) goals. Infinera achieved an overall score of 79 across evaluation criteria including Environment, Labor & Human Rights, Ethics, and Sustainable Procurement, ranking in the 98th percentile and top five percent of companies assessed by EcoVadis in the past 12 months. This achievement reflects Infinera's ongoing investment in reducing the environmental impact of open optical networking equipment ma

SAN JOSE, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) today released financial results for its third quarter ended September 28, 2024. GAAP revenue for the quarter was $354.4 million compared to $342.7 million in the second quarter of 2024 and $392.4 million in the third quarter of 2023. GAAP gross margin for the quarter was 39.8% compared to 39.6% in the second quarter of 2024 and 40.3% in the third quarter of 2023. GAAP operating margin for the quarter was (3.1)% compared to (8.7)% in the second quarter of 2024 and 2.0% in the third quarter of 2023. GAAP net loss for the quarter was $(14.3) million, or $(0.06) per diluted share, compared to net loss of

SAN JOSE, Calif., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) and the U.S. Department of Commerce have signed a non-binding preliminary memorandum of terms for Infinera to receive up to $93 million in direct funding as part of the bipartisan CHIPS and Science Act. This proposed direct funding, when combined with investment tax credits available under the CHIPS and Science Act, could result in more than $200 million in total federal incentives as well as potential state and local incentives. This proposed funding would support the expansion and modernization of both Infinera's semiconductor capabilities in Silicon Valley, California and its advanced test and packaging capabili

SAN JOSE, Calif., Oct. 08, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that Converge ICT Solutions Inc. (PSE: CNVRG), the leading fiber broadband and technology solutions provider in the Philippines, selected Infinera as its submarine line terminal equipment (SLTE) vendor for the fiber pairs over which Converge has been granted an Indefeasible Right of Use (IRU) on the Bifrost Cable System, using Infinera's industry-leading GX Series Compact Modular Platform and its next-generation high-performance 1.2T ICE7 optical engine. Additionally, Converge will use Infinera's solutions to modernize its nationwide terrestrial fiber network across the Philippines. Keppel and Conv

SAN JOSE, Calif., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that Poka Lambro Telecommunications (Poka Lambro) has deployed Infinera's XTM Series to upgrade its regional fiber broadband and middle-mile network across rural western Texas with ReConnect Program funding. With Infinera's solution, Poka Lambro can cost-efficiently deliver 400G services across the region to provide reliable middle-mile connectivity to support its own fiber broadband transport needs and those of other internet service providers (ISPs) and to connect historically underserved communities. Poka Lambro is a fiber broadband access and middle-mile network service provider that provides vi

SAN JOSE, Calif., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that its greenhouse gas (GHG) emission reduction targets have been validated by the Science Based Targets initiative (SBTi). This third-party validation reinforces Infinera's commitment to promoting sustainability in the telecommunications industry through energy-efficient optical networking solution design and environmental, social, and governance (ESG) initiatives. SBTi is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. SBTi's Target Validation Team has classified Infinera's Scope 1 and Scope 2

Rosenblatt downgraded Infinera from Buy to Neutral and set a new price target of $6.65 from $8.00 previously

Needham resumed coverage of Infinera with a rating of Buy and set a new price target of $10.00

Stifel initiated coverage of Infinera with a rating of Buy and set a new price target of $7.00

Jefferies upgraded Infinera from Underperform to Hold

MKM Partners resumed coverage of Infinera with a rating of Buy and set a new price target of $9.00

Rosenblatt initiated coverage of Infinera with a rating of Buy and set a new price target of $12.00

Loop Capital initiated coverage of Infinera with a rating of Hold and set a new price target of $9.00

B. Riley Securities upgraded Infinera from Neutral to Buy and set a new price target of $11.50 from $10.00 previously

JP Morgan downgraded Infinera from Neutral to Underweight and set a new price target of $9.00 from $11.00 previously

MKM Partners downgraded Infinera from Buy to Neutral

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Nokia CorporationInside Information 27 June 2024 at 23:50 EEST Inside Information: Nokia to acquire Infinera to increase scale in Optical Networks and accelerate product roadmap Creates a highly scaled and truly global optical business with increased in-house technology capabilities and vertical integration.Strengthens Nokia's optical position, specifically in North America.Accelerates Nokia's customer diversification strategy, expanding webscale presence.Targeted net comparable operating profit synergies of EUR 200 million by 2027*.Expected to be accretive to Nokia's comparable operating profit and EPS in year 1 and to deliver over 10% comparable EPS accretion in 2027*.Offer split a

SAN JOSE, Calif., May 14, 2024 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) today released preliminary financial results for its first quarter ended March 30, 2024. Although presented with numerical specificity, all amounts in this press release are preliminary and based on management's current expectations as of the date of this press release. These results are subject to all aspects of the final quarterly review process and may change as a result of new information that arises, or new determinations that are made, in this process. GAAP revenue for the quarter was $306.9 million compared to $453.5 million in the fourth quarter of 2023 and $392.1 million in the first quarter of

SAN JOSE, Calif., May 13, 2024 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) announced today that it will release its preliminary financial results for the first quarter of fiscal 2024 ended March 30, 2024, after the market closes on May 14, 2024. An investment community conference call to discuss these results and Infinera's outlook for the second quarter of fiscal 2024 will be held the same day at 5:00 p.m. ET/2:00 p.m. PT and will be accessible live and on an archived basis as follows: Preliminary First Quarter Financial Results Conference Call and Webcast Date: Tuesday, May 14, 2024Time: 5:00 p.m. ET/2:00 p.m. PT Conference call participants: register at https:/

WALTHAM, Mass., May 08, 2024 (GLOBE NEWSWIRE) -- Markforged Holding Corporation (NYSE:MKFG) (the "Company"), the company strengthening manufacturing resiliency by enabling industrial production at the point of need, today announced its financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Results Compared To First Quarter 2023 Revenue was $20.5 million compared to $24.1 million.Gross margin was 49.3% compared to 48.1%.Non-GAAP gross margin was 51.3% compared to 49.3%.Operating expenses were $47.2 million, inclusive of a $17.3 million accrual related to the Continuous Composite judgment, compared to $33.1 million.Non-GAAP operating expenses were $24.1

SAN JOSE, Calif., May 06, 2024 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) announced today that it expects to file its fiscal year 2023 Annual Report on Form 10-K on or before May 13, 2024. The company, along with its auditors, is continuing to make progress with the normal year-end close process. The company also announced that it expects to release its financial results for the first quarter of fiscal 2024 and outlook for the second quarter of fiscal 2024, after the market closes on May 14, 2024. Additional details on the investment community conference call to discuss these results will be made available at investors.infinera.com within the next week. Contacts: Media: Anna

SAN JOSE, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) ("Infinera" or the "Company") today released preliminary financial results for its fourth quarter ended December 30, 2023. For the fourth quarter, Preliminary revenue is expected to be $435 million to $452 million, compared to the Company's prior outlook of $421 million to $451 million.The resulting preliminary GAAP gross margin is expected to be 38.0% to 40.0%, compared to the Company's prior outlook of 37.3% to 40.4%.The resulting preliminary GAAP operating margin is expected to be 0.0% to 3.0%, compared to the Company's prior outlook of 0.7% to 5.0%.The resulting preliminary GAAP net income (loss)

SAN JOSE, Calif., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) ("Infinera" or the "Company") announced today that it intends to file its Quarterly Report on Form 10-Q for the third quarter of 2023 on or before February 29, 2024. The Company will also release its preliminary, unaudited financial results for the fourth quarter of fiscal 2023 and provide the Company's outlook for the first quarter of fiscal 2024 after the market closes on March 6, 2024. An investment community conference call to discuss these items will be held the same day at 5:00 p.m. ET/2:00 p.m. PT. Fourth Quarter Financial Results Conference Call and Webcast  Date: Wednesday, March 6, 2024 Time:

SAN JOSE, Calif., Nov. 08, 2023 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) (or "Company") today released preliminary financial results for its third quarter ended September 30, 2023. For the third quarter, Preliminary revenue 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 resulting preliminary GAAP gross margin is expected to be 38.4% to 40.7%, ahead of the midpoint of the Company's prior outlook of 36% to 39%.The resulting preliminary GAAP operating margin is expected to be (1.4%) to 2.2%, ahead of the Company's prior outlook of (8%) to (3%).The resulting preliminary GAAP EPS is

SAN JOSE, Calif., Oct. 25, 2023 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) announced today that it will release its financial results for the third quarter of fiscal 2023 ended September 30, 2023, after the market closes on November 8, 2023. An investment community conference call to discuss these results and Infinera's outlook for the fourth quarter of fiscal 2023 will be held the same day at 5:00 p.m. ET/2:00 p.m. PT and will be accessible live and on an archived basis as follows: Third Quarter Financial Results Conference Call and Webcast Date: Wednesday, November 8, 2023Time: 5:00 p.m. ET/2:00 p.m. PT Conference call participants: register at https://conferen

SAN JOSE, Calif., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) today released financial results for its second quarter ended July 1, 2023. GAAP revenue for the quarter was $376.2 million compared to $392.1 million in the first quarter of 2023 and $358.0 million in the second quarter of 2022. GAAP gross margin for the quarter was 38.0% compared to 37.5% in the first quarter of 2023 and 30.5% in the second quarter of 2022. GAAP operating margin for the quarter was (3.8)% compared to (2.4)% in the first quarter of 2023 and (11.1)% in the second quarter of 2022. GAAP net loss for the quarter was $(20.3) million, or $(0.09) per diluted share, compared to net loss of $

FY'24 Highlights: Year-over-year growth in bookings and backlog; book-to-bill ratio of approximately 1.1x for FY'24 and 1.3x for Q4'24Record revenue with webscalers - total revenue exposure (direct and indirect) greater than 50% of FY'24 revenueSignificant design wins across the GX systems portfolio with webscalers and Tier 1 Communications Service Providers (CSPs)Substantial awards for ICE-X 400G and 800G pluggables from webscalers and Tier 1 CSPsLaunched ICE-D to address the projected multi-billion dollar intra-data center opportunity driven by AI workloadsSecured CHIPS & Science Act funding with the potential for greater than $200 million in total federal ince

SAN JOSE, Calif., May 20, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that Regan MacPherson has been named Chief Legal Officer and Corporate Secretary, effective May 18. Ms. MacPherson will report to Infinera Chief Executive Officer David Heard and will oversee the company's global legal strategy and corporate governance matters and policies. Ms. MacPherson succeeds David Teichmann, whose distinguished tenure with the company includes trusted and empathetic leadership during a period marked by challenging macro dynamics. Mr. Teichmann will remain with the company in an advisory role to ensure a smooth transition. "We are excited to welcome Regan to the Infinera tea

SAN JOSE, Calif., July 03, 2023 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that Scotty Benda has joined Infinera as Senior Vice President of Worldwide Systems Engineering. In this role, Scotty will provide strategic leadership and direction for technical sales systems engineering within the global sales organization, further strengthening Infinera's industry-leading team of optical networking experts, advisors, and innovators. "With a focus on delivering unparalleled value to our customers with industry-leading open optical platforms and intelligent pluggable solutions, Scotty brings deep technical expertise, proven leadership, and a customer-centric approach aligned with

SAN JOSE, Calif., Feb. 16, 2022 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) today announced the appointment to its board of directors of Roop Lakkaraju, Chief Financial Officer of Benchmark Electronics, Inc. (NYSE:BHE), effective February 16, 2022. Mr. Lakkaraju will serve as a member of Infinera's audit committee. "We are thrilled to have Roop join our board of directors," said George Riedel, Infinera Chairman of the Board. "By bringing more than 25 years of management experience in overall financial strategy, including as a public company chief financial officer, and his diversity of thinking and perspective, Roop will be a great asset to Infinera as we continue to focus every day on bui