Contact Information: For media and analysts: Media: Jeff Ferry Tel. (408) 572-5213 jferry@infinera.com Investors: Bob Blair Tel. (408) 716-4879 bblair@infinera.com
California Officials, Broadband Industry Leaders Express High Hopes for Federal Broadband Stimulus Program
| Source: Infinera
SUNNYVALE, CA--(Marketwire - February 11, 2010) - At an open meeting hosted last week by
Infinera (NASDAQ : INFN ) at its Sunnyvale headquarters, California state
officials and leaders from the broadband industry expressed high hopes that
the federal broadband stimulus program would have a significant impact on
broadband availability and the industry in the months ahead.
Joe Camicia, chief of staff for California's Chief Information Officer, and
a member of Governor Schwarzenegger's Broadband Task Force, praised the
award of $7.5 million to LA CAN for an upgrade of 188 public computer
centers in low income areas of Los Angeles. "Today, people are waiting in
lines at public libraries to use computers so they can apply online for
jobs," Camicia said. "This is an example of how federal dollars will help
individuals tremendously." He added that California has won only two
federal awards so far, and that he hopes to see California win some 10% of
the total funding that will be disbursed. "We are eagerly awaiting more
announcements," he said.
According to California Public Utilities Commissioner Timothy Alan Simon,
the CPUC is making up to $100 million of state funding available as
matching funds for rural broadband projects by the public and private
sectors, including projects by federal stimulus applicants. "I am glad that
companies like Infinera are developing the innovative technology we need to
make the best use of every government dollar dedicated to ensuring fast and
affordable broadband access to Californians," said Commissioner Simon.
California State Assembly member Paul Fong described Infinera as an
important source of innovation in the technology industry, and praised the
company for continuing to invest in the Silicon Valley area, especially in
light of the recession and budget crisis hitting the state economy.
Latest Stimulus Grant Winner Praises Infinera Network
Tad Deriso, CEO of Mid-Atlantic Broadband Cooperative, an Infinera customer
since 2007, said MBC's success in deploying its Virginia network and
delivering services to customers and communities throughout its region
demonstrated that broadband networks can stimulate economic growth in
depressed regions. "As a result of the availability of cost-effective,
reliable broadband from MBC, a major technology company came to our region
and opened a data center in an abandoned manufacturing building. So instead
of an empty building, it is now producing tax revenue and jobs for southern
Virginia."
Deriso also praised Infinera's Digital Optical Networks for their ease of
deployment and management. "We have 10 full-time employees and manage a
network that spans 2500 miles. That's only possible because we have an
Infinera optical network," Deriso told the audience.
On Monday, Feb. 8, the NTIA announced that MBC has been awarded a $16
million grant to build an extension to its existing network, which will
bring fiber-based broadband to 121 schools in southern and southeastern
Virginia.
Infinera Calls on Federal Government to Enable Competition, Innovation
Dr. Dave Welch, Infinera's co-founder and chief marketing and strategy
officer, called on the federal government to ensure that broadband policy
encourages competition. He praised the proposed Broadband Deployment
Conduit Act as an enabler of more competition and more cost-effective
broadband networks. He also urged the federal government to pursue policies
that support companies that compete through innovation like Infinera.
"Innovations, like our photonic integration technology, are the only way to
deliver long-term improvements in network capacity, reliability, and
scalability to support the growing needs of the Internet," he said.
According to industry analysts, for Q3 2009, by revenue, Infinera is the
largest supplier of long haul optical networks in North America.
Currently, Infinera has approximately 500 employees in Sunnyvale.
For more information on the Broadband Stimulus program, please visit our
new website at www.infinera.com/broadband/.
About Infinera
Infinera provides Digital Optical Networking systems to telecommunications
carriers worldwide. Infinera's systems are unique in their use of a
breakthrough semiconductor technology: the photonic integrated circuit
(PIC). Infinera's systems and PIC technology are designed to provide
customers with simpler and more flexible engineering and operations, faster
time-to-service, and the ability to rapidly deliver differentiated services
without reengineering their optical infrastructure. For more information,
please visit http://www.infinera.com/.
This press release contains certain forward-looking statements based on
current expectations, forecasts and assumptions that involve risks and
uncertainties. These statements are based on information available to
Infinera as of the date hereof; and actual results could differ materially
from those stated or implied, due to risks and uncertainties.
Forward-looking statements include statements regarding Infinera's
expectations, beliefs, intentions or strategies regarding the future,
including that innovations, such as photonic integration technology, are
the only way to deliver long-term improvements in network capacity,
reliability, and scalability to support the growing needs of the Internet.
Such
forward-looking statements can be identified by forward-looking words such
as "anticipated," "believed," "could," "estimate," "expect," "intend,"
"may," "should," "will," and "would" or similar words. The risks and
uncertainties that could cause our results to differ materially from those
expressed or implied by such forward-looking statements include aggressive
business tactics by our competitors, our dependence on a single product,
our ability to protect our intellectual property, claims by others that we
infringe their intellectual property, our manufacturing process is very
complex, product performance problems we may encounter, our dependence on
sole or limited source suppliers, our ability to respond to rapid
technological changes, our ability to maintain effective internal controls,
the ability of our contract manufacturers to perform as we expect, a new
technology being developed that replaces the PIC as the dominant technology
in optical networks, general political, economic and market conditions and
events, including war, conflict or acts of terrorism; and other risks that
may impact Infinera's business are set forth in our annual report Form
10-K, which was filed with the SEC on February 17, 2009, as well as
subsequent reports filed with or furnished to the Securities and Exchange
Commission. These statements are based on information available to us as
of the date hereof and we disclaim any obligation to update the
forward-looking statements included in this press release, whether as a
result of new information, future events or otherwise.