Proactiveinvestors USA & Canada EXFO Electro-Optical Engineering https://www.proactiveinvestors.com Proactiveinvestors USA & Canada EXFO Electro-Optical Engineering RSS feed en Sun, 19 May 2019 19:45:34 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - EXFO Swings to 2Q loss on costs linked to acquisitions, U.S. tax reform impact ]]> https://www.proactiveinvestors.com/companies/news/194776/exfo-swings-to-2q-loss-on-costs-linked-to-acquisitions-us-tax-reform-impact-194776.html EXFO Inc. (NASDAQ:EXFO), a monitoring and analytics company, said it swung to a loss in the fiscal second quarter, hampered by costs related to the U.S. tax reform and acquisition expenses.

The net loss was US$4.7mln, or US$0.08 a share, from net profit of US$1.0mln, or US$0.02 a share, a year earlier, the company said in a statement. Revenue gained 7.8% to US$64.7mln.

The stock fell 6% to US$3.95 at 12:24 p.m

EXFO said in February that it acquired France’s Astellia to help scale the company’s offerings to mobile network operators.

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Wed, 11 Apr 2018 12:24:00 -0400 https://www.proactiveinvestors.com/companies/news/194776/exfo-swings-to-2q-loss-on-costs-linked-to-acquisitions-us-tax-reform-impact-194776.html
<![CDATA[News - Canaccord reiterates hold rating for EXFO ]]> https://www.proactiveinvestors.com/companies/news/114906/canaccord-reiterates-hold-rating-for-exfo-114906.html

Canaccord Genuity analysts reiterated their ‘hold’ rating for EXFO (NASDAQ:EXFO) in a note issued to investors on June 24, maintaining a US$3.50 target price, which is 8.0 % higher than the stock’s current trading price of US$3.26.

On Tuesday, EXFO reported revenues of US$57.8 million for the third quarter of its fiscal year 2015 or 9.5% lower than the US$63.9 million reported in the same quarter of 2014.

The Quebec provider of test solutions and service assurance for network operators and equipment manufacturers in the telecom industry, during its fiscal quarter ending on May 31, secured orders worth for US$59.2 million compared to US$66.5 million US dollars in the third quarter of fiscal 2014.

EXFO argues that its sales have suffered from a negative impact of the US dollar, even though it had more bookings for services, reaching a value of US$66.5 million in the third quarter of fiscal 2014 compared to US$61.8 million in the same period last year and US$58.7 million in the second quarter of 2014. The company's book-to-bill ratio was 1.04 in the third quarter of 2014 said the company in a statement.

Despite the lower revenues, EXFO realized a quarterly net profit of US$563,000. At the end of the third quarter of its fiscal 2014, EXFO had reported a net profit of US$1.7 million.

During the third quarter of fiscal 2014, EXFO acquired the assets of ByteSphere, a Boston-area software company specializing in global IT management and network monitoring solutions, extending service assurance.

EXFO also recently bought Finnish customer analytics provider Aito Technologies in an asset purchase deal, intending to combine the latter’s analytics software with its own wireless product portfolio to provide mobile operators with heightened, end-to-end visibility of their 3G and 4G/LTE networks.

 "I am delighted with our improved market position in the wireless industry, both through the recent acquisitions of ByteSphere and Aito Technologies but also with several recently introduced solutions. All these initiatives have greatly elevated EXFO's strategic relevance in the wireless industry as reflected by three recent contract wins, two of which occurred with tier-1 network operators after the quarter-end," said " EXFO’s chairman, president and CEO, Germain Lamonde.

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Thu, 25 Jun 2015 15:50:00 -0400 https://www.proactiveinvestors.com/companies/news/114906/canaccord-reiterates-hold-rating-for-exfo-114906.html
<![CDATA[News - EXFO swings to Q1 profit as sales slightly improve ]]> https://www.proactiveinvestors.com/companies/news/104965/exfo-swings-to-q1-profit-as-sales-slightly-improve-59160.html EXFO (NASDAQ:EXFO) (TSE:EXF), which markets fiber optic test and monitoring instruments for the telecommunications industry, swung to a first-quarter profit. Shares gained.

Net income was $1.5 million, or $0.02 per diluted share, in the three months ended ended November 30, compared to a net loss of $0.7 million, or $0.01 per diluted share, a year earlier, the Quebec City, Quebec-based company said in a statement late yesterday.

Sales slightly improved to $56.7 million in the first quarter, from $56.0 million a year earlier. Analysts were looking for revenue of $60.3 million.

"Although market demand remained muted, we recorded year-over-year increases in sales, gross margin and earnings in the first quarter of fiscal 2015," chief executive officer Germain Lamonde said in the statement. "The telecom industry continued morphing from hardware-centric to SDN and NFV architectures (virtualized networks) and from fixed to mobile networking, while industry consolidation is ongoing in the background.”

Looking ahead, EXFO forecasts sales between $52.0 million and $57.0 million for the fiscal second quarter. Analysts are looking for sales of $60 million on average.

The company is also expecting in the range of a net loss of $0.03 per share and net earnings of $0.01 per share. IFRS net loss/earnings include $0.02 per share in after-tax amortization of intangible assets and stock-based compensation costs.

Shares jumped 6.4 percent to C$4.15 at 1:10 p.m. in Toronto, paring losses over the past 12 months to C$4.15.

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Thu, 08 Jan 2015 14:10:00 -0500 https://www.proactiveinvestors.com/companies/news/104965/exfo-swings-to-q1-profit-as-sales-slightly-improve-59160.html
<![CDATA[News - EXFO preliminary Q3 results miss guidance; shares tumble ]]> https://www.proactiveinvestors.com/companies/news/95427/exfo-preliminary-q3-results-miss-guidance-shares-tumble-44696.html EXFO (TSE:EXF) (NASDAQ:EXFO) announced Tuesday a set of preliminary figures for the company’s most recent fiscal quarter that missed its own previously published guidance, citing lower than expected bookings, particularly from geographic markets affected by continuing economic downturns.

The Quebec-based provider of solutions for wireless and wireline network operators, in its preliminary financial results for the company’s third fiscal quarter that ended May 31, announced its expectation of a net loss per share between 1 cent and 2 cents, well below the initial outlook posted by the company, which called for earnings of up to 4 cents per share due to lower than anticipated revenue.

Revenue for the quarter is expected to come in at roughly $59.0 million, well below the initial forecast in the range of US$64.0 million to US$69.0 million, and lower than the US$59.5 million seen in the prior year period. 

Analysts were expecting earnings of 6 cents per share on revenue of $66.31 million.

The company said it expected bookings to reach the level of $61.8 million in the quarter compared to US$57.5 million in the same period the year before.

"Bookings came in lower than expected in the third quarter, particularly in EMEA (Europe, Middle East, Africa) with its challenging economic conditions while the Americas was our best performing region," said chairman, president and CEO, Germain Lamonde, in the release. 

"The quarter opened with a good month of March, weakened in April and ended with a strong month of May, especially in the United States. Even though I am encouraged by our sequential and year-over-year increase in bookings and by the heightened contribution of newly launched products, it is too early to state investments have returned to normal levels.

"However, I remain convinced there is a fundamental need for our solutions to help network operators increase bandwidth and quality of experience on fixed and mobile networks."

EXFO is set to report the complete financial results for the quarter on June 26 after the close of markets.

Shares in the company were trading down on the TSX the day of the release of the preliminary figures, dropping as low as $4.20 per share in intraday trading from a previous close of $4.68 per share.

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Wed, 05 Jun 2013 14:23:00 -0400 https://www.proactiveinvestors.com/companies/news/95427/exfo-preliminary-q3-results-miss-guidance-shares-tumble-44696.html
<![CDATA[News - EXFO sells life sciences unit to private equity firm Riverside for $24m ]]> https://www.proactiveinvestors.com/companies/news/74079/exfo-sells-life-sciences-unit-to-private-equity-firm-riverside-for-24m-8856.html EXFO (Nasdaq:EXFO) (TSX:EXF), a provider of test and service assurance solutions for wireless and wireline network operators, said Friday it has sold its life sciences and industrial division to global private equity firm The Riverside Company for US$24.3 million in cash.

The life sciences and industrial division, based in Toronto, Canada, provides services in medical device and opto-electronics assembly, fluorescence microscopy and other life science sectors. It generated US$25.4 million in sales and US$4.3 million in earnings from operations for the fiscal year ending August 31, 2010.

The sales of the unit is intended to help EXFO focus its efforts and resources on its core telecom test and service assurance business, which is expected to benefit shareholders and customers in the long-term, said the company.

The sold division will appear as a discontinued operation in EXFO's fiscal fourth-quarter and year-end financial results, which will be released after the close of markets on October 12, 2010.

The purchase price of the division is subject to adjustments for minimum working capital requirements.

Quebec-based EXFO offers services that assess the performance and reliability of converged, IP fixed and mobile networks. Key technologies supported include 3G, 4G/LTE, IMS, Ethernet, OTN, xDSL, and various optical technologies accounting for an estimated 35% of the portable fiber-optic test market.

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Fri, 01 Oct 2010 13:39:00 -0400 https://www.proactiveinvestors.com/companies/news/74079/exfo-sells-life-sciences-unit-to-private-equity-firm-riverside-for-24m-8856.html
<![CDATA[News - EXFO buys Finnish technology group NetHawk Oyj for an initial €37.3m ]]> https://www.proactiveinvestors.com/companies/news/72403/exfo-buys-finnish-technology-group-nethawk-oyj-for-an-initial-373m-4761.html EXFO Inc (NASDAQ: EXFO, TSX: EXF) said it has acquired Finnish technology group NetHawk Oyj for €37.3m in cash. EXFO expects the deal to be earnings neutral for the remainder of fiscal 2010, and accretive in fiscal 2011. The transaction also includes an additional earn-out agreement, based on the company’s sales performance over the next three years, which could raise the total value of the deal by €8.7m.

"This acquisition represents a defining milestone in EXFO's near 25-year history, since it not only transforms us into a global force in wireless testing, but it also moves us among the top five suppliers in the telecom test and service assurance industry”, EXFO chairman, president and CEO Germain Lamonde said.

According to EXFO, NetHawk is the second-largest provider of 2G, 3G and 4G/LTE protocol analyzers and simulators for wireless network equipment manufacturers (NEMs) and network operators. Under the terms of the deal, EXFO will acquire 91% of NetHawk's outstanding shares, and will purchase the remaining shares through a statutory procedure under the Finnish Companies Act.

NetHawk posted revenue of €28.5m and EBITDA of €4.2m for the fiscal year ended December 31 2009. EXFO plans to retain NetHawk's management, R&D, sales and marketing teams of approximately 370 employees mainly located in Finland, India and the United States.

EXFO cited international consultancy Frost and Sullivan as forecasting the ‘Protocol Analyzer’ and ‘Network Monitoring Market’ for wireless networks will grow from US$595.2m in 2008 to US$814.2m by 2013. Similarly, the ‘LTE Test Equipment Market’ is expected to increase at a compound annual growth rate of 56% during this period.

NetHawk's total addressable market is currently estimated at US$610 million.

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Fri, 12 Mar 2010 16:00:00 -0500 https://www.proactiveinvestors.com/companies/news/72403/exfo-buys-finnish-technology-group-nethawk-oyj-for-an-initial-373m-4761.html