INFN – my largest position reported today. I sold about 15% of my holdings going into earning, but as it turned out, they are firing on all cylinders.

10 new customers added this quarter, a record, three new to INFN.

I believe 8 new POs for Cloud Express going into Q1 – that’s their new product.

They have a wide spectrum of customers now, so no lumpiness in earnings.

They are not even bidding for the Verizon business

North on $100M backlog going into Q1/15, which is historically their slowest quarter. Estimate for Q1 is also higher.

Little more dilution than I’m comfortable with, but if they are growing 20% plus p.a., I can live with that.

Looks like they finally got their act together

Please listen to the conference for the excitement here.

Up 13.5% AH.



I have been a big buyer of INFN over the last few years. I basically view them as a cyclical company that can do really well as upgrade cycles hit. They have the undisputed technology lead for 100g, what remains to be seen is how long they will have that lead and what comes next. I always figured that they would have a 1-3 year run up and then probably taper off. We shall see if I am correct or not.