EXFO Electro-Optical Engineering Inc. (NASDAQ: EXFO; TSX: EXF) recently shared 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.
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EXFO 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. EXFO also anticipates that revenues will fall between US$45 and US$46 million for the first quarter of fiscal 2010, slightly above the US$40 to US$45 million guidance range, due to stronger bookings than expected. EXFO 's book-to-bill ratio is expected to be above 1 for the quarter All financial numbers provided in this press release are preliminary and subject to review. EXFO will announce its complete results for the first quarter of fiscal 2010 after the close of markets on January 12, 2010. EXFO is a leading provider of test and service assurance solutions for network operators and equipment manufacturers in the global telecommunications industry. The Telecom Division, which accounts for almost 90% of EXFO 's revenues, offers a wide range of innovative solutions to assess optical networks, from the core to access, as well as next-generation IP infrastructures and related triple-play services. The Life Sciences and Industrial Division offers solutions in medical device and opto-electronics assembly, fluorescence microscopy and other life science sectors. For more information, visit EXFO 's website.
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