2013 Q2 Form 10-Q Financial Statement

#000119312513318863 Filed on August 05, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $138.4M $93.46M
YoY Change 48.07% -2.6%
Cost Of Revenue $86.73M $61.08M
YoY Change 41.99% 4.34%
Gross Profit $51.65M $32.37M
YoY Change 59.55% -13.47%
Gross Profit Margin 37.33% 34.64%
Selling, General & Admin $28.58M $30.10M
YoY Change -5.04% 5.23%
% of Gross Profit 55.33% 92.97%
Research & Development $31.68M $31.68M
YoY Change 0.02% -3.72%
% of Gross Profit 61.33% 97.84%
Depreciation & Amortization $6.300M $5.700M
YoY Change 10.53% 35.71%
% of Gross Profit 12.2% 17.61%
Operating Expenses $60.26M $61.77M
YoY Change -2.45% 0.46%
Operating Profit -$8.608M -$29.40M
YoY Change -70.72% 22.1%
Interest Expense $849.0K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net -$800.0K $377.0K
YoY Change -312.2% 53.88%
Pretax Income -$9.408M -$29.02M
YoY Change -67.58% 21.78%
Income Tax $601.0K $527.0K
% Of Pretax Income
Net Earnings -$10.01M -$29.55M
YoY Change -66.13% 22.13%
Net Earnings / Revenue -7.23% -31.62%
Basic Earnings Per Share -$0.09 -$0.27
Diluted Earnings Per Share -$0.09 -$0.27
COMMON SHARES
Basic Shares Outstanding 116.9M shares 110.4M shares
Diluted Shares Outstanding 116.9M shares 110.4M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $301.6M $190.0M
YoY Change 58.74% -29.26%
Cash & Equivalents $181.2M $84.99M
Short-Term Investments $120.4M $105.0M
Other Short-Term Assets $15.40M $13.10M
YoY Change 17.56% -38.21%
Inventory $121.3M $115.1M
Prepaid Expenses
Receivables $96.67M $56.20M
Other Receivables $1.112M $1.500M
Total Short-Term Assets $536.1M $375.9M
YoY Change 42.62% -13.49%
LONG-TERM ASSETS
Property, Plant & Equipment $78.39M $82.40M
YoY Change -4.87% 41.34%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $32.40M $26.10M
YoY Change 24.14% 110.48%
Other Assets $5.564M $6.400M
YoY Change -13.06% -67.51%
Total Long-Term Assets $120.3M $114.9M
YoY Change 4.67% 27.1%
TOTAL ASSETS
Total Short-Term Assets $536.1M $375.9M
Total Long-Term Assets $120.3M $114.9M
Total Assets $656.4M $490.8M
YoY Change 33.73% -6.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $35.98M $37.70M
YoY Change -4.57% 31.82%
Accrued Expenses $18.22M $40.00M
YoY Change -54.45% -8.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $119.0M $99.90M
YoY Change 19.08% -4.68%
LONG-TERM LIABILITIES
Long-Term Debt $105.6M $0.00
YoY Change
Other Long-Term Liabilities $18.34M $25.50M
YoY Change -28.07% 28.79%
Total Long-Term Liabilities $123.9M $25.50M
YoY Change 385.96% 28.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $119.0M $99.90M
Total Long-Term Liabilities $123.9M $25.50M
Total Liabilities $242.9M $125.4M
YoY Change 93.68% 0.64%
SHAREHOLDERS EQUITY
Retained Earnings -$597.7M
YoY Change
Common Stock $1.000B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $399.2M $365.3M
YoY Change
Total Liabilities & Shareholders Equity $656.4M $490.8M
YoY Change 33.73% -6.5%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$10.01M -$29.55M
YoY Change -66.13% 22.13%
Depreciation, Depletion And Amortization $6.300M $5.700M
YoY Change 10.53% 35.71%
Cash From Operating Activities $17.90M -$22.70M
YoY Change -178.85% 22600.0%
INVESTING ACTIVITIES
Capital Expenditures -$4.500M -$6.200M
YoY Change -27.42% -7.46%
Acquisitions
YoY Change
Other Investing Activities -$82.00M $17.40M
YoY Change -571.26% -680.0%
Cash From Investing Activities -$86.60M $11.40M
YoY Change -859.65% -216.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 151.4M 100.0K
YoY Change 151300.0% -120.0%
NET CHANGE
Cash From Operating Activities 17.90M -22.70M
Cash From Investing Activities -86.60M 11.40M
Cash From Financing Activities 151.4M 100.0K
Net Change In Cash 82.70M -11.20M
YoY Change -838.39% 7.69%
FREE CASH FLOW
Cash From Operating Activities $17.90M -$22.70M
Capital Expenditures -$4.500M -$6.200M
Free Cash Flow $22.40M -$16.50M
YoY Change -235.76% -350.0%

Facts In Submission

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us-gaap Product Warranty Expense
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us-gaap Research And Development Expense
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infn Transfer Of Inventory To Fixed Assets
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infn Amortization Of Deferred Inventory Cost Recognized As Share Based Compensation Expense
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infn Non Cash Settlement For Manufacturing Capacity Advance
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infn Other Comprehensive Income Loss Reclassification Adjustment For Available For Sale Securities Included In Net Income Net Of Tax
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dei Trading Symbol
TradingSymbol
INFN
dei Entity Registrant Name
EntityRegistrantName
INFINERA CORP
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-06-29
dei Entity Central Index Key
EntityCentralIndexKey
0001138639
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
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ProductWarrantyChangeInEstimate
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CY2013Q2 us-gaap Amortization Of Debt Discount Premium
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IncomeTaxExpenseBenefit
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ProductWarrantyUtilization
2055000
CY2013Q2 infn Ratable Product And Related Support And Services
RatableProductAndRelatedSupportAndServices
494000
CY2013Q2 infn Allocated Share Based Compensation Expense Before Amortization Of Prior Periods Deferred Inventory Cost
AllocatedShareBasedCompensationExpenseBeforeAmortizationOfPriorPeriodsDeferredInventoryCost
6494000
CY2013Q2 infn Product Warranty Change In Estimate
ProductWarrantyChangeInEstimate
-1094000
CY2013Q2 infn Contractual Interest Expense
ContractualInterestExpense
219000
CY2013Q2 infn Amortization Of Deferred Inventory Cost Recognized As Share Based Compensation Expense
AmortizationOfDeferredInventoryCostRecognizedAsShareBasedCompensationExpense
1690000
CY2013Q2 infn Cost Of Ratable Product And Related Support And Services
CostOfRatableProductAndRelatedSupportAndServices
69000
CY2013Q2 infn Euro Denominated Receivables And Typically Maturities
EuroDenominatedReceivablesAndTypicallyMaturities
no more than 30 days
CY2013Q2 infn Number Of Shares Available For Grant Cost
NumberOfSharesAvailableForGrantCost
2500000 shares
CY2013Q2 infn Other Comprehensive Income Loss Reclassification Adjustment For Available For Sale Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForAvailableForSaleSecuritiesIncludedInNetIncomeNetOfTax
0

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