EXFO Q4 sales plunge 7.3% in "sluggish telecom environment"

QUEBEC CITY - Exfo’s annual sales dropped 7.3% to $250.0 million (U.S.) in 2012 compared to $269.7 million in 2011. In the fourth quarter of fiscal 2012, sales totaled $57.2 million compared to 59.5 million in the third quarter of 2012 and 64.4 million in the fourth quarter of 2011. "Following more than 30% sales growth in our two previous fiscal years and a 20.5% sales CAGR in the last 10, I'm disappointed with our 7% decrease in 2012, largely driven by a sluggish telecom environment in Europe and China where network operators reduced capital spending and delayed projects," said...