Infinera Corporation Reports Third Quarter 2013 Financial Results

                                                                            
Infinera Corporation                                                        
Supplemental Financial Information                                          
(Unaudited)                                                                 
                                                                            
                  Q4'11  Q1'12  Q2'12   Q3'12   Q4'12   Q1'13   Q2'13  Q3'13
                 ------ ------ ------- ------- ------- ------- ------ ------
Revenue ($ Mil)  $112.0 $104.7   $93.5  $112.2  $128.1  $124.6 $138.4 $142.0
Gross Margin %                                                              
 (1)                42%    40%     37%     39%     36%     36%    39%    49%
                 ------ ------ ------- ------- ------- ------- ------ ------
Invoiced                                                                    
 Shipment                                                                   
 Composition:                                                               
Domestic %          70%    71%     70%     70%     63%     63%    64%    73%
International %     30%    29%     30%     30%     37%     37%    36%    27%
Largest Customer                                                            
 %                  14%    13%     15%     13%     13%     14% < 10%    17%
                 ------ ------ ------- ------- ------- ------- ------ ------
Cash Related                                                                
 Information:                                                               
Cash from (used                                                             
 in) Operations                                                             
 ($ Mil)         ($5.1) ($5.8) ($22.7) ($29.3)    $8.3 ($21.3)  $17.9  $12.8
Capital                                                                     
 Expenditures ($                                                            
 Mil)             $16.1  $13.6    $6.1    $2.5    $3.2    $4.9   $4.5   $4.2
Depreciation &                                                              
 Amortization ($                                                                                 
  Mil)                            $4.5      $5.5        $5.7        $6.1        $6.4        $6.3      $6.3      $5.9
DSO's                                65          57            55            74            76            82          64          56
                                  ------  ------  -------  -------  -------  -------  ------  ------
Inventory                                                                                                                                      
  Metrics:                                                                                                                                      
Raw  Materials  ($                                                                                                                        
  Mil)                          $12.1    $15.3      $14.8      $12.4      $13.0      $12.2      $9.8    $12.1
Work  in  Process                                                                                                                          
  ($  Mil)                    $37.0    $41.6      $49.4      $59.8      $57.3      $53.1    $41.0    $45.7
Finished  Goods                                                                                                                            
  ($  Mil)                    $39.9    $44.7      $50.9      $46.3      $57.5      $65.7    $70.5    $65.7
                                  ------  ------  -------  -------  -------  -------  ------  ------
Total  Inventory                                                                                                                          
  ($  Mil)                    $89.0  $101.6    $115.1    $118.5    $127.8    $131.0  $121.3  $123.5
Inventory  Turns                                                                                                                          
  (1)                                2.9        2.5          2.1          2.3          2.6          2.4        2.8        2.3
                                  ------  ------  -------  -------  -------  -------  ------  ------
Worldwide                                                                                                                                      
  Headcount                1,181    1,210      1,228      1,235      1,242      1,219    1,238    1,296
                                  ------  ------  -------  -------  -------  -------  ------  ------
                                                                                                                                                        
                                                                                                                                                        
(1)  Amounts  reflect  non-GAAP  results.  Non-GAAP  adjustments  include  non-cash  
  stock-based  compensation  expense.                                                                                    
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
 

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