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Exfo Inc. says quarterly results expected to fall short of guidance

QUEBEC – Exfo Inc. (TSX:EXF) said Tuesday it expects its earnings and revenue for its latest quarter will fall short of its guidance.

The telecommunications equipment maker, which keeps its books in U.S. dollars, said it expects a loss between one and two cents per share for the quarter ended May 31 compared with its outlook for a result between break even and a profit of four cents per share.

Exfo also said revenue for its third-quarter was expected to be about US$59 million compared with its guidance of US$64 million to US$69 million.

“Bookings came in lower than expected in the third quarter, particularly in EMEA with its challenging economic conditions while the Americas was our best performing region,” said Germain Lamonde, Exfo’s chairman, president and chief executive.

“The quarter opened with a good month of March, weakened in April and ended with a strong month of May, especially in the United States. Even though I am encouraged by our sequential and year-over-year increase in bookings and by the heightened contribution of newly launched products, it is too early to state investments have returned to normal levels.”

The company’s full financial results are expected June 26.