Today's press releases, including fourth quarter and fiscal year 2011 results and associated financial tables and investor information summary will be available today on the Investors section of Infinera's website. The company undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this call. This afternoon's press release and today's conference call will also include certain non-GAAP financial measures. In our earnings release, we announced operating results for the fourth quarter and fiscal year 2011, which exclude the impact of restructuring and other related costs and noncash stock-based compensation expenses.
These non-GAAP financial measures are provided to facilitate meaningful year-over-year comparisons. Please see the exhibit of the earnings press release for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures and an explanation of why these non-GAAP financial measures are useful and how they are used by management, which will be available today on the Investors section of our website.
On this call, we will also give guidance for the first quarter of fiscal year 2012. We have excluded noncash stock-based compensation expenses from this guidance because we cannot readily estimate the impact of our future stock price on future stock-based compensation expenses.
I will now turn the call over to Infenera's President and Chief Executive Officer, Tom Fallon.Thomas Fallon Good afternoon and thanks for joining us. With me are Chief Strategy Officer, Dave Welch; and CFO, Ita Brennan. I will spend a few minutes today commenting on the market, touch on our Q4 results and then provide an update on the reception to our new products before turning it over to Ita for a full review of our Q4 performance and Q1 outlook. Internet bandwidth continues to expand with unabated growth, driven by video, mobile and cloud computing applications. Simultaneously, we are observing the transformation of the Internet into the primary and mission-critical telecommunications network of the future. We believe these trends are causing service providers to take a hard look at how they build and manage their next-generation transport infrastructure. This transformed transport infrastructure will need to: scale smoothly to multi-terabits of optical transmission, starting with a 100 Gig and quickly moving to terabit capacities; efficiently accommodate more fluid, cloud-based traffic demands and support mesh networking while maintaining the predictability and reliability of transport networks; and become a simpler and more cost-effective, requiring significantly less human resource, power, cooling and space per bit of traffic carry.