EXFO, Inc. (EXFO) Reports In-Line Q4 EPS, Offers FY16 Revenue Guidance

EXFO, Inc. (NASDAQ: EXFO) reported Q4 EPS of $0.04, in-line with the analyst estimate of $0.04. Revenue for the quarter came in at $56.6 million versus the consensus estimate of $58.18 million.

EXFO, Inc. sees FY2016 revenue of $230 million, versus the consensus of $233.08 million.

"While financial results for fiscal 2015 are below my expectations mainly due to adverse conditions and the strength of the US dollar against a basket of currencies, I am nonetheless quite pleased with the important internal transformations implemented during 2015 that will strongly contribute to value creation in 2016 and beyond," said Germain Lamonde, EXFO's Chairman, President and CEO. "We launched EXFO Xtract, an exciting, real-time network performance and service experience analytics solution that is enjoying significant deal traction with leading customers. We resolved specific issues within our Protocol family of solutions with tangible growth results in the second half of 2015 that should accelerate during 2016. We lowered operating expenses by US$6.7 million, while additional cost savings of US$3.5 million are expected in 2016 from our August restructuring plan. We strengthened our executive team with the appointment of Philippe Morin in a new role as COO to improve global sales execution and product strategy. His vast executive experience at Ciena and Nortel will be strong assets for EXFO as we strive to expand our end-to-end network performance and service visibility business."

"We also delivered strong sales growth in our Physical-layer product line in 2015 which should continue in 2016. Given all of the above factors, fiscal 2016 promises to be far more satisfying from a growth standpoint, especially in the higher-margin Protocol area which includes solutions and systems, wireless, data centers, Cloud and web-scale service provider markets," Mr. Lamonde added. "Combined with an ongoing tight focus on operating expenses, we are targeting more than 40% growth in adjusted EBITDA to reach US$20 million in 2016, which should be achieved at a revenue level of about US$230 million."

For earnings history and earnings-related data on EXFO, Inc. (EXFO) click here.

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