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Infinera reports 4Q loss

SUNNYVALE, Calif. (AP) _ Infinera Corp. (INFN) on Wednesday reported a loss of $74 million in its fourth quarter.

On a per-share basis, the Sunnyvale, California-based company said it had a loss of 50 cents. Losses, adjusted for one-time gains and costs, came to 12 cents per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.

The communications equipment maker posted revenue of $195.8 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $189.8 million.

For the year, the company reported that its loss widened to $194.5 million, or $1.32 per share. Revenue was reported as $740.7 million.

Infinera shares have risen 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.90, a fall of 26 percent in the last 12 months.


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