SUNNYVALE, Calif. (AP) _ Infinera Corp. (INFN) on Tuesday reported a loss of $99.3 million in its first quarter.
The Sunnyvale, California-based company said it had a loss of 55 cents per share. Losses, adjusted for one-time gains and costs, came to 27 cents per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.
The communications equipment maker posted revenue of $330.3 million in the period, surpassing Street forecasts. Seven analysts surveyed by Zacks expected $321.4 million.
For the current quarter ending in July, Infinera said it expects revenue in the range of $309 million to $329 million.
Infinera shares have fallen 27% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $5.83, a rise of 84% in the last 12 months.