Infinera Corp - INFN STOCK NEWS

Infinera (NASDAQ: INFN) announced that Core-Backbone, a global network provider, has deployed Infinera's GX Series ICE6 800G coherent solution to upgrade key network routes in Germany. The upgrade doubles network capacity on each segment while reducing power consumption per bit. Core-Backbone can now deliver capacity at 800G per wavelength, with the option to upgrade to 1.2T, significantly increasing capacity at the lowest cost and power per bit.

The deployment expands Core-Backbone's network across Europe, providing high-capacity, high-performance connectivity services. Ulrich Koehler, Head of Network and IT-Operation at Core-Backbone, praised the easy installation and deployment of Infinera's solution, which avoided service interruptions. The upgrade enables Core-Backbone to meet growing customer demands for high-speed transmission, supporting 400G to 800G+ capacity for individual wavelengths.

Infinera (NASDAQ: INFN) reported its Q2 2024 financial results, showing mixed performance. GAAP revenue increased to $342.7 million from $306.9 million in Q1 2024 but decreased from $376.2 million in Q2 2023. GAAP gross margin improved to 39.6%, up from 36.0% in Q1 2024 and 38.0% in Q2 2023. The company reported a GAAP net loss of $(48.3) million, or $(0.21) per diluted share, an improvement from Q1 2024 but a decline from Q2 2023.

CEO David Heard expressed satisfaction with the results, noting that revenue, gross margin, and operating margin exceeded the midpoint of their outlook range. The company ended Q2 with a book-to-bill ratio above 1. Infinera also highlighted its pending merger with Nokia, expected to close in the first half of 2025.

Infinera (INFN) announced that GARR, Italy's research and education network, has chosen Infinera's GX Series ICE6 800G coherent solution to double the capacity of its new optical infrastructure, GARR-T. The expansion, funded by the EU Recovery Fund project TeRABIT, will extend GARR's network to Sardinia, enhancing connectivity for research institutions and universities. This deployment, which includes both terrestrial and submarine cable systems, will provide up to 400 Gbps connectivity across Italy by 2025. The project aims to strengthen GARR's high-performance optical backbone, facilitating faster collaboration and providing additional access for institutions involved in Italy's National Center for Research in High-Performance Computing, Big Data, and Quantum Computing.

Infinera (Nasdaq: INFN) announced that SECOM is modernizing its middle-mile and business Ethernet access network using Infinera's XTM Series optical transport solution. This upgrade will bring new multi-gigabit broadband services to underserved rural southern Colorado communities. SECOM, a subsidiary of Southeast Colorado Power Association, is expanding its network capabilities to deliver multi-gigabit Ethernet services and 100G/400G broadband transport.

The XTM Series provides SECOM with a temperature-hardened and low-latency packet optical middle-mile network, suitable for residential, business, and Carrier Ethernet traffic. This modernization project aims to maximize the region's economic and social development opportunities and close the digital divide in remote locations.

Infinera (Nasdaq: INFN) has expanded its partnership with Japan's APRESIA Systems to integrate its innovative ICE-X coherent pluggables into APRESIA’s network solutions portfolio. This development aims to enhance APRESIA's locally manufactured Layer 2/3 switching and optical transmission products. With the ICE-X pluggables, APRESIA targets high-speed point-to-point and 100G bidirectional transport applications, offering significant CapEx and OpEx reductions, and improved network efficiency. APRESIA will leverage these technologies to address increased demand for capacity at network edges, aiming to improve operational value and deliver new revenue-generating services. Both companies will present their solutions at the JANOG 54 industry conference in Nara, Japan, on July 3-4, 2024.

Infinera (Nasdaq: INFN), along with DZS and Calnex, announced a successful multi-vendor demonstration of 5G mobile broadband xHaul with coherent open XR optics point-to-multipoint optical transmission. Conducted at the European Open Test & Integration Center in Torino, hosted by TIM, the testing aimed to simplify and reduce the costs of 5G network rollouts by minimizing the number of optical transceivers required, thus offering significant total cost of ownership savings. The demo included fronthaul, midhaul, and backhaul transport scenarios, showcasing successful xHaul synchronization and timing distribution in a point-to-multipoint architecture. This testing, supported by the EU project ALLEGRO, underscores the potential of XR optics innovation in transforming 5G and paving the way for future 6G networks.

Infinera (Nasdaq: INFN) announced that Digicel has deployed its GX Series, including ICE6 800G and FlexILS solutions, for the Deep Blue One subsea cable system. This subsea cable, spanning 2,100 kilometers, connects French Guiana, Suriname, Guyana, and Trinidad and Tobago, enhancing connectivity in the southern Caribbean. It links to Southern Caribbean Fiber’s existing subsea cable, which covers 3,000 kilometers and connects 16 islands from Trinidad and Tobago to Puerto Rico, with further connections to Miami and New York. The deployment aims to minimize cost per bit, energy cost per megabit, and carbon footprint while maximizing spectral efficiency and fiber capacity. Valery Bijou, CEO of Southern Caribbean Fiber, highlighted the importance of this new connectivity for customers and the oil and gas industry. Nick Walden, Infinera's Senior VP of Worldwide Sales, expressed satisfaction with the partnership and its role in enhancing connectivity in the Latin America and Caribbean region.

On May 21, 2024, Infinera (NASDAQ: INFN) announced it received a delinquency notification from Nasdaq on May 15, 2024, for failing to timely file its Quarterly Report on Form 10-Q for Q1 2024. This follows an earlier notice regarding its late Annual Report on Form 10-K for FY 2023, which has since been filed. Nasdaq requires Infinera to update its compliance plan by May 31, 2024, to regain compliance by September 11, 2024. Infinera is working to complete the Form 10-Q and submit its updated compliance plan promptly.

Infinera (NASDAQ: INFN) announced that it will participate in the J.P. Morgan 2024 Global Technology, Media and Communications Conference on May 22, 2024.

The presentation will be delivered by Nancy Erba, CFO, at 8:40am EDT / 5:40am PDT.

The event will be webcast live, and interested parties can access it through the Infinera investor relations website under the 'Events' section.

Contact information for media and investors is provided for further inquiries.