EXFO Total Sales Increased 6.4% to $286.9 Million in Fiscal 2019

  • EXFO

QUEBEC CITY — EXFO, a provider of test, monitoring and analytics to the communications industry, announced financial results for  for the fourth quarter and fiscal year ended August 31, 2019.

Fiscal 2019 Highlights

  • Sales growth. Total sales increased 6.4% to $286.9 million in fiscal 2019. Service Assurance, Systems and Services (SASS) sales improved 16.2% largely due to a full-year contribution from the Astellia acquisition and multi-million-dollar contract win for EXFO's network topology and automation solution. Test and Measurement (T&M) sales were up 3.7% year-over-year. Annual sales in EuropeMiddle East and Africa (EMEA), Americas, and Asia-Pacific regions increased 9.5%, 6.3% and 1.6%, respectively, in 2019. EXFO's largest customer accounted for 6.9% of sales in 2019, while the company's top-three customers represented 18.1%.
  • Bookings growth. Total bookings increased $11.2% year-over-year to $297.8 million in 2019 for a book-to-bill ratio of 1.04. SASS bookings grew 21.0% due in part to four monitoring orders related to 5G deployments, while T&M bookings improved 8.4% year‑over-year.
  • ProfitabilityIFRS net loss was reduced by 79.8% to $2.5 million in fiscal 2019 from $12.3 million in 2018. Adjusted EBITDA, which surpassed the company's annual profitability target, surged 48.8% to $25.6 million in 2019 from $17.2 million in 2018. Cash flows from operations improved 20% to $17.2 million in 2019 from $14.4 million in 2018.
  • Innovation. EXFO released several game-changing solutions in fiscal 2019 to accelerate its customers' network transformations. The company introduced a optical fiber multimeter, creating a new testing category that greatly simplifies, accelerates and automates the task of frontline technicians while maximizing quality of fiber links. EXFO expanded its 400G test leadership with a new module featuring an Open Transceiver System that enables compatibility between current and future high-speed transceivers with EXFO's field and lab test platforms. EXFO released an automated fiber inspection tool for testing polarity, continuity and connector cleanliness on multifiber cables.

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