Citi Downgrades Infinera Corp. (INFN) to Neutral
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Infinera Corporation Reports First Quarter 2016 Financial Results
April 27, 2016 4:18 PM EDTSUNNYVALE, CA -- (Marketwired) -- 04/27/16 -- Infinera Corporation (NASDAQ: INFN), provider of Intelligent Transport Networks, today released financial results for the first quarter of 2016 ended March 26, 2016.
GAAP revenue for the quarter was $244.8 million compared to $260.0 million in the fourth quarter of 2015 and $186.9 million in the first quarter of 2015.
GAAP gross margin for the quarter was 47.5% compared to 44.5% in the fourth quarter of 2015 and 47.2% in the first quarter of 2015. GAAP operating margin for the quarter was 6.1% compared to 5.3% in the fourth quarter of 2015 and 8.1% in the first quarter of 2015.
GAAP net income... More
