EXFO Announces Positive Preliminary Results for First Quarter of FY 2010
· GAAP net earnings and sales to finish above guidance range
· Book-to-bill ratio above 1
QUEBEC CITY, CANADA, November 30, 2009—EXFO Electro-Optical Engineering Inc. (NASDAQ: EXFO; TSX: EXF) announced today preliminary results for the first quarter ended November 30, 2009.
Given a stronger-than-anticipated US dollar versus Canadian dollar and higher sales volume, EXFO’s management now expects GAAP net earnings to finish between US$0.00 and US$0.01 per diluted share for the first quarter of fiscal 2010.
The company had previously forecasted a GAAP net loss between US$0.06 and US$0.02 per share, partially based on an anticipated pre-tax, foreign exchange loss of US$0.03 per share to account for the significant weakness of the US dollar in days preceding the issuing of company guidance on October 13, 2009. more