ESPOO (dpa-AFX) - Infinera Corp. (INFN) reported that its net loss for the fourth quarter was $26.34 million or $0.11 per share, compared to net income of $12.87 million, or $0.06 per share, in the fourth quarter of 2023.
Total other expense was $17.70 million compared to expense of $3.09 million in the prior year.
Non-GAAP net income for the quarter was $8.2 million, or $0.03 per share, compared to $28.6 million, or $0.12 per share, in the fourth quarter of 2023. Analysts expected the company to report earnings of $0.11 per share for the fourth quarter. Analysts' estimates typically exclude special items.
GAAP revenue for the quarter declined to $414.39 million from $453.46 million in the fourth quarter of 2023. Analysts expected revenue of $409.07 million for the quarter.
In June 2024, Nokia (NOK) agreed to acquire Infinera in a transaction valuing the company at $6.65 per share or an enterprise value of US$2.3 billion.
On 18th February 2025, Infinera announced that its acquisition by Nokia is expected to close around February 28, 2025, pending final regulatory approvals and customary closing conditions.
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