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EXFO reports Q1 results

EXFO Electro-Optical Engineering Inc. today reported financial results for the first quarter ending Nov. 30.


January 8, 2008  


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EXFO Electro-Optical Engineering Inc. today reported financial results for the first quarter ending Nov. 30.

Sales increased 15.3% to US$41.0 million in the first quarter of fiscal 2008 from US$35.5 million in the first quarter of 2007, but decreased 4.6% from US$43.0 million in the fourth quarter of 2007.

Net bookings improved by 18.2% year-over-year to US$43.7 million for a book-to-bill ratio of 1.07 in the first quarter of fiscal 2007 from US$37.0 million in the same period last year and 10.5% from US$39.5 million in the fourth quarter of 2007.

“I’m satisfied sales reached the high end of our guidance range and that bookings were solid in the first quarter, especially with 19.8% and 18.2% year-over-year growth in sales and bookings for our Telecom Division,” said Germain Lamonde, EXFO’s chairman, president and CEO.

“We are following an aggressive profitable growth strategy that allowed us to increase our gross margin and profitability in each of the last five fiscal years, despite an average annual increase of 6.4% in the Canadian/US exchange rate.”