Infinera Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 28, 2013. For the quarter, the company's total revenue was $139,092,000 compared to $128,064,000 a year ago. The strong revenue performance, primarily related to the completion of a number of SD-FEC subsea deployments in the fourth quarter that were not fully anticipated in the company's guidance. Loss from operations was $7,081,000 compared to $15,513,000 a year ago. Loss before income taxes was $9,764,000 compared to $15,438,000 a year ago. Net loss was $10,178,000 or $0.08 per basic and diluted share compared to $16,088,000 or $0.14 per basic and diluted share a year ago. Non-GAAP income from operations was $1,093,000 compared to $14,088,000 compared to non GAAP loss from operations of $5,378,000 a year ago. Non-GAAP net loss was $190,000 or $0.00 per diluted share compared to $5,953,000 or $0.05 per diluted share a year ago. These non-GAAP measures exclude non-cash stock-based compensation expenses and the amortization of debt discount on convertible senior notes.

For the year, the company's total revenue was $544,122,000 compared to $438,437,000 a year ago. Loss from operations was $24,186,000 compared to $83,001,000 a year ago. Loss before income taxes was $30,465,000 compared to $83,140,000 a year ago. Net loss was $32,119,000 or $0.27 per basic and diluted share compared to $85,330,000 or $0.77 per basic and diluted share a year ago. Non-GAAP income from operations was $7,790,000 compared to non GAAP loss from operations of $41,182,000 a year ago. Non-GAAP net income was $4,021,000 or $0.03 per diluted share compared to non GAAP net loss of $43,511,000 or $0.38 per diluted share a year ago. Net cash provided by operating activities was $35,180,000 compared to net cash used in operating activities of $49,466,000 a year ago. Purchase of property and equipment was $21,068,000 compared to $25,395,000 a year ago. These non-GAAP measures exclude non-cash stock-based compensation expenses and the amortization of debt discount on convertible senior notes.

The company provided earnings guidance for the first quarter of fiscal 2014. For the period, the company's guidance which is based on non-GAAP results and excludes any noncash stock compensation expenses and the amortization of noncash debt discount amounts is revenues of approximately $137 million to $143 million; gross margin of approximately 40%; operating expenses of approximately $56 million; operating income of approximately $1 million income to $1 million loss; net income of breakeven to approximately $2 million loss. Based on the estimated average weighted diluted share of outstanding of $125 million, this relates to an EPS range of breakeven to $0.02 loss.