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.
I am extremely pleased with the team's execution, launching the DTN-X product to the market in September 2011, executing critical customer trials in Q1 and Q2 of this year and shipping to customers for deployment in June as promised. We believe this platform, with abundance of a cutting-edge technology and elegant ease of use, is available at the exact right time to enable mass adoption of high-bandwidth solutions in the transport market.The DTN-X reception continues to be very positive. At OFC/NFOEC in March of this year, we announced our first public DTN-X customer, Cable&Wireless Worldwide, who selected DTN-X as the sole platform for the Europe to Persia Express Gateway network, known as EPEG. Subsequently, we announced DANTE's selection of DTN-X for the GÉANT optical network, Europe's largest high-speed research and education network connecting 40 million users in over 8,000 institutions across 40 countries. In addition to these 2 announced customers, we have received DTN-X purchase orders from 8 other customers, for a total of 10 DTN-X customer commitments to date. Three of these purchase commitments are from customers new to Infinera. Equally important to note, based on just these decisions, the DTN-X is now being adopted across a broad cross-section of our markets, including the cable, subsea, internet content, R&E and Tier 1 markets. I have every confidence that all of our markets will be well served by this leadership next gen platform. In addition, we completed 10 customer trials as compared to the 8 we had planned. These customer trials represent a combination of service providers across North America, EMEA and APAC and consist of Tier 1 internet content providers and bandwidth wholesalers. Like the customers who have made purchase commitments, these represent a mix of existing and potential customers. I would note that while some of these trials over the last 2 quarters have resulted in purchase commitments for the DTN-X platform, there has not been a direct correlation between trials and POs. We do business with over 100 customers, and not all of them will need to trial the DTN-X before committing to it. In fact, some of the DTN-X POs we have received are from existing customers who have bypassed the trial process. This is the result of the DTN-X being the next phase of our digital optical networking platform and the trust that we've earned over the past 7 years for reliability, quality and delivering on our commitments. Because of this lack of correlation, we will no longer provide an update on the trial pipeline and instead will focus on DTN-X purchase orders and customer wins going forward. Read the rest of this transcript for free on seekingalpha.com