Feeds

Infinera grabs top tech IPO of the year

Optical bull

Choosing a cloud hosting partner with confidence

Shares of Infinera gained 52 per cent during its first trading day, giving the optical-networking gear maker the best tech IPO debut in 2007.

The Sunnyvale-based company's stock closed yesterday at $19.71, a 51.6 per cent leap from the $13 per share initial public offering price. Approximately 14 million shares were sold during the trading day.

Infinera Logo

Infinera was founded in 2000 by former Ciena Corp. executive Jagdeep Singh. It claims to be the first company to develop a commercially deployed computer chip with optical networking components. The optical gear transmits and receives data at 100 GB/s using light, rather than electricity used in traditional circuits.

Despite company sales surging nearly 17-fold in the first quarter to $49.2m, Infinera has yet to achieve profitability. The company posted a $89.9m loss last year and was $19.8m in the red during the first quarter of 2007.

A small number of companies account for most of Infinera's sales. Internet backbone firm Level 3 made up 57 per cent of Infinera's revenue during the first quarter and about 75 per cent in 2006.

Infinera's competitors in the optical communications market include Alcatel-Lucent, Ciena, Cisco, Huawei and Nortel.

According to Infinera's SEC filing, the company plans to use proceeds from the sale for repayment of credit facilities and possible acquisitions. ®

Beginner's guide to SSL certificates

More from The Register

next story
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
The DRUGSTORES DON'T WORK, CVS makes IT WORSE ... for Apple Pay
Goog Wallet apparently also spurned in NFC lockdown
Cray-cray Met Office spaffs £97m on VERY AVERAGE HPC box
Only 250th most powerful in the world? Bring back Michael Fish
Microsoft brings the CLOUD that GOES ON FOREVER
Sky's the limit with unrestricted space in the cloud
'ANYTHING BUT STABLE' Netflix suffers BIG Europe-wide outage
Friday night LIVE? Nope. The only thing streaming are tears down my face
IBM, backing away from hardware? NEVER!
Don't be so sure, so-surers
Google roolz! Nest buys Revolv, KILLS new sales of home hub
Take my temperature, I'm feeling a little bit dizzy
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Getting ahead of the compliance curve
Learn about new services that make it easy to discover and manage certificates across the enterprise and how to get ahead of the compliance curve.