EXFO reports record sales and bookings for third quarter

QUEBEC CITY – The gross margin for EXFO Electro-Optical Engineering Inc. reached 60.9%, the highest in seven years, according to financial results for the third quarter ended May 31 released Friday. Sales increased 23.9% to US$48.6 million in the third quarter from US$39.2 million in the third quarter of 2007. The growth, said the company, was more than 75% organic, since its acquisitions of Navtel Communications and Brix Networks, which closed about one month and two months respectively into the third quarter of 2008, contributed US$2.2 million in total revenue. Net bookings improved 16% year-over-year to a record-high of US$50.7...