CEO Tom Fallon: “As expected, weak demand across much of our business in the third quarter led to financial results that were below our standards. While the revenue environment is likely to remain challenging in the near term, we are making continued progress towards delivering our next generation of products and increasing the cadence in which we will introduce step function technology improvements. I firmly believe that we have the team and the core technologies that will enable us to recover from our current challenges and ultimately return to delivering differentiated financial results.”
Sounds pretty darn desperate. Glad I didn’t hold on hoping that they’d beat their pitifully low guidance. Not only did sales drop 20%+ but costs were up almost 10%. INFN will be down double digits tomorrow.
Bear