Infinera Benefits From Coriant Acquisition
Infinera (NASDAQ: INFN), a maker of equipment used in the telecommunications industry, reported its second-quarter results on Wednesday.
Investors were previously warned that the second quarter was going to be rough. Sales were expected to soar, and they did, but most of that growth is thanks to last year's buyout of Coriant. Management is still working to right-size the combined businesses' cost structure to realize the promised efficiencies of the deal. Infinera made progress on that front during the second quarter, but the bottom-line loss remained large, so there's still plenty of work left to do.
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