SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Infinera Corp. (INFN) on Tuesday reported a loss of $61.4 million in its first quarter.
On a per-share basis, the San Jose, California-based company said it had a loss of 27 cents. Losses, adjusted for stock option expense and non-recurring costs, came to 17 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.
The communications equipment maker posted revenue of $306.9 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $337.7 million.
For the current quarter ending in June, Infinera expects its results to range from a loss of 13 cents per share to a loss of 5 cents per share.
The company said it expects revenue in the range of $310 million to $350 million for the fiscal second quarter.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INFN at https://www.zacks.com/ap/INFN
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