EXFO posts net loss in Q3

Thu. July 02, 2009; Posted: 09:48 AM

Jul 02, 2009 (Datamonitor via COMTEX) -- EXFO | Quote | Chart | News | PowerRating -- EXFO Electro-Optical Engineering, a Canada-based provider of test and monitoring solutions, has posted a net loss $23.34 million, or $0.39 per diluted share, for the fiscal third quarter ended May 31, 2009, compared to net earnings of $11.18 million, or $0.16 per diluted share, in the same period of fiscal 2008.

Sales decreased 10.2% to $43.63 million in the third quarter of fiscal 2009 from $48.58 million in the third quarter of fiscal 2008.

For the nine-month period May 31, 2009, the company posted a net loss of $15.4 million, or $0.25 per diluted share, compared to a net income of $15.11 million, or $0.22 per diluted share, in the same period of fiscal 2008. Sales for the first nine months of fiscal 2009 increased to $136.37 million from $132.85 million in the prior-year period.

Germain Lamonde, chairman, president and CEO of EXFO, said: "The fundamental trends towards bandwidth growth and IP convergence remain intact and EXFO is among the best-positioned companies to take advantage of these key growth drivers, considering our strong product offering, strengthened by several key new product introductions, along with targeted sales, channel and marketing initiatives."

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