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Infinera Management Discusses Q2 2012 Results - Earnings Call Transcript

This afternoon's press release and today's conference call also include certain non-GAAP financial measures. In our earnings release, we announced operating results for the second quarter of fiscal year 2012, 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 Infinera's website.

On this call, we'll also give guidance for the third 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 Infinera's President and Chief Executive Officer, Tom Fallon.

Thomas J. Fallon

Good afternoon, and thanks for joining us on our second quarter 2012 conference call. With me are Chief Financial Officer, Ita Brennan; and VP of Corporate Marketing, Michael Capuano. Chief Strategy Officer, Dave Welch is on a well-deserved family vacation.

First, I will talk about DTN-X progress, and then I will touch briefly on global optical market trends and the competitive environment before turning it over to Ita for a full review of our Q2 financial results and Q3 outlook. For the last 2 years, we have been steadfast on our strategy with regard to DTN-X. We initiated our 500-gig PIC program and aggressively pursued what we believe would be the world's highest capacity platform featuring WDM and OTN switching integrated without compromise. We further committed to market delivery in Q2 2012.

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