EXFO "extremely pleased" with solid Q1 results

QUEBEC CITY – Strong sales, bookings and gross margin performance combined to power EXFO Electro-Optical Engineering’s first quarter results.Sales reached US$45.6 million for quarter ended November 30, 2009, down 1.7% from the first quarter of 2009 but up 24.8% from US$36.5 million in the fourth quarter of 2009.Net bookings were US$52.2 million for a book-to-bill ratio of 1.14 in the first quarter of fiscal 2010, compared to a “record level” of US$52.3 million in the same period last year, but increased 28.2% from US$40.7 million in the fourth quarter of 2009.Gross margin improved to 63.9% of sales, its highest level...