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Technology Stocks : Infinera
INFN 6.6400.0%Feb 28 4:00 PM EST
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From: FJB2/22/2019 3:34:52 AM
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  • We grew backlog fairly significantly in Q4. We also will grow backlog in Q1
  • As of the end of Q4, we had notified over 450 members of the workforce or more than 10% of our population that their jobs will be eliminated. As a combined entity reducing the cost of redundant positions is a necessary priority. In January we announce our decision to close our manufacturing site in Berlin sometime in late 2019.
  • I have spent a significant amount of time meeting with customers in my enthusiasm for the combination continues to grow. With Tier 1 customers I believe we are in a strong position to preserve and ultimately expand our business with Coriant's largest historic customers.
  • First our relationship with Verizon continues to expand strategically.
  • Additionally based on the SDN automation capabilities enabled by our Transcend Software Suite and long-term position in the network Verizon selected Infinera to lead a major network migration project that will pave the way for greater efficiency and broader automation in Verizon's next-generation network.
  • In EMEA our relationship with Vodafone continues to expand as we were selected for a subsea opportunity with ICE4.
  • This is one of 13 new mTera customers in 2018. 2018 we added over 100 new customers 2019 that accounted for $1 million or more of revenue. Three of these customers were adding in Q4 alone.
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