-=Infinera (INFN) reported earnings on Tue 6 Nov 2018 (a/h)

 Infinera reports EPS in-line, misses on revs; guides Q4 EPS, revs well below consensus

• Reports Q3 (Sep) loss of $0.04 per share, excluding non-recurring items, in-line with the S&P Capital IQ Consensus of ($0.04); revs rose 4.1% year/year to $200.4 mln vs. the $210.57 mln S&P Capital IQ Consensus.
• Non-GAAP gross margin for the quarter was 38.4% compared to 43.9% in the second quarter of 2018 and 39.1% in the third quarter of 2017.
• Co issues downside guidance for Q4, sees EPS of ($0.30-0.26), excluding non-recurring items, vs. ($0.06) S&P Capital IQ Consensus; sees Q4 revs of $315-335 mln vs. $432.23 mln S&P Capital IQ Consensus; Non-GAAP gross margin is expected to be 30% +/- 200 bps.
• "We remain committed to achieving substantial cost synergies, scaling our business by delivering compelling solutions to our extensive customer base of leading Tier-1s and ICPs, and driving vertical integration of our optical engine across our expanded end-to-end portfolio. While we have experienced a spending pause from certain customers as they evaluate the combined company, I believe this is temporary and that we will grow over the course of 2019."