Infinera Expects Preliminary 4Q23 Revenue And Net Income Per Diluted Share To Be Within Or Exceed The Previously Provided Ranges Of $421M-$451M ($436.88M Est.) And $0.05-$0.13 ($0.09 Est.)

Author: Benzinga Newsdesk | January 11, 2024 02:41am

The Company now believes

• Its preliminary revenue and preliminary net income per diluted share for the third quarter of 2023 will be within or exceed the ranges provided on November 8, 2023.
• Its preliminary revenue and preliminary net income per diluted share for the fourth quarter of 2023 will be within or exceed the outlook ranges provided on November 8, 2023, supported by strong bookings in the quarter.

Infinera Chief Financial Officer Nancy Erba said "I am pleased with our financial performance in the third and fourth quarters of 2023 and our strong finish to the year. We remain focused on completing the work necessary to be able to get our third quarter Form 10-Q on file as soon as possible. In the fourth quarter, we benefited from strong bookings, free cash flow generation and preliminary revenue and preliminary net income per diluted share that are expected to be within or exceed the outlook ranges we previously provided."

Additionally, on January 9, 2024, the Company submitted a plan of compliance to Nasdaq addressing how it intends to regain compliance with Nasdaq Listing Rule 5250 (c)(1).

Posted In: INFN