EXFO Inc. announced unaudited consolidated earnings results for the first quarter ended November 30, 2015. For the quarter, sales were USD 55,232,000 against USD 56,724,000 a year ago. Earnings before income taxes were USD 3,882,000 against USD 2,646,000 a year ago. Net earnings for the period were USD 1,766,000 against USD 1,481,000 a year ago. Basic and diluted net earnings per share were USD 0.03 against USD 0.02 a year ago. Cash flows from operating activities was USD 3,223,000 against USD 1,890,000 a year ago. Additions to capital assets were USD 1,309,000 against USD 754,000 a year ago. Adjusted EBITDA totaled USD 5.3 million, or 9.6% of sales compared to USD 3.2 million, or 5.6% of sales for the same period last year.

The company forecasts sales between USD 52.0 million and USD 57.0 million for the second quarter of fiscal 2016, while IFRS net earnings are expected to range between USD 0.04 and USD 0.08 per diluted share. IFRS net earnings include USD 0.01 per diluted share in after-tax amortization of intangible assets and stock-based compensation costs.