EXFO Reports Record Sales and Bookings for Second Quarter of Fiscal 2010


    
    - Sales increase 16.7% year-over-year to US$54.1 million
    - Bookings improve 22.2% year-over-year to US$57.8 million, book-to-bill
      ratio of 1.07
    - Earnings from operations reach US$3.9 million or 7.3% of sales
    - NetHawk acquisition expands reach into high-growth 3G and 4G/LTE
      wireless market
    
</pre>
<p/>
<p><span class="xn-location">QUEBEC</span> CITY, <span class="xn-chron">March 30</span> /CNW Telbec/ - EXFO Inc. (NASDAQ:   EXFO; TSX: EXF) reported today record sales and bookings for its second quarter ended <span class="xn-chron">February 28, 2010</span>.</p>
<p>Sales increased 16.7% to US$54.1 million in the second quarter of fiscal 2010 from US$46.4 million in the second quarter of 2009 and 18.8% from US$45.6 million in the first quarter of 2010. Net bookings improved 22.2% to US$57.8 million the second quarter of fiscal 2010 from US$47.3 million in the same period last year and 10.8% from US$52.2 million in the first quarter of 2010. The company's book-to-bill ratio was 1.07 in the second quarter of 2010.</p>
<p>Gross margin decreased to 60.0% of sales in the second quarter of fiscal 2010 from 60.4% in the second quarter of 2009 and 63.9% in the first quarter of 2010.</p>
<p>GAAP net earnings in the second quarter of fiscal 2010 totaled US$1.2 million, or US$0.02 per diluted share, compared to US$2.7 million, or US$0.04 per diluted share, in the same period last year and US$0.3 million, or US$0.01 per diluted share, in the first quarter of fiscal 2010. It should be noted that EXFO recorded a pre-tax, foreign exchange loss of US$1.0 million in the second quarter of fiscal 2010 compared to a gain of US$1.1 million in the second quarter of 2009 and a loss of US$1.1 million in the first quarter of 2010. GAAP net earnings in the second quarter of fiscal 2010 included US$1.5 million in amortization of intangible assets and US$0.5 million in stock-based compensation costs. The former item resulted in an income tax recovery of US$0.5 million.</p>
<p>Following the quarter-end, EXFO announced the acquisition of NetHawk Oyj, the second-largest provider of 2G, 3G and 4G/LTE protocol analyzers and network simulators in the wireless test industry, in an all-cash transaction estimated at (euro)37.3 million for all outstanding shares on a fully diluted basis, or (euro)27.6 million excluding NetHawk's net cash. EXFO initially acquired 91% of NetHawk's outstanding shares and is in the process of purchasing the remaining shares pursuant to a statutory procedure under the Finnish Companies Act.</p>
<p>"I'm certainly delighted with the NetHawk acquisition, since its leading 3G and 4G/LTE technologies transform EXFO into a major force in the high-growth, high-margin wireless space and a top-five player in the global telecom test and service assurance industry," said Germain Lamonde, EXFO's Chairman, President and CEO. "I'm equally pleased with our record level of sales and bookings in the second quarter. Given our enhanced strategic positioning and overall improvement in our end-markets, I'm confident this will enable us to accelerate revenues and earnings even faster in the near future."</p>
<p/>
<pre>
    
    Unaudited Selected Financial Information
    (In thousands of US dollars)

    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Segmented results:                  Q2 2010       Q2 2009       Q1 2010
                                   ------------------------------------------
      Sales:
      Telecom Division             $     47,951  $     41,367  $     40,292
      Life Sciences and Industrial
       Division                           6,159         5,005         5,268
                                   ------------------------------------------
      Total                        $     54,110  $     46,372  $     45,560
                                   ------------------------------------------
                                   ------------------------------------------

      Earnings from operations:
      Telecom Division             $      2,748  $      2,117  $      2,041
      Life Sciences and Industrial
       Division                           1,187           482           687
                                   ------------------------------------------
      Total                        $      3,935  $      2,599  $      2,728
                                   ------------------------------------------
                                   ------------------------------------------

      Other selected information:
      GAAP net earnings            $      1,154  $      2,655  $        334
      Selected items included in
       GAAP net earnings:
      Amortization of intangible
       assets                      $      1,502  $      1,246  $      1,469
      Stock-based compensation
       costs                       $        469  $        325  $        418
      Income tax effect of the
       above selected items        $       (484) $       (212) $       (471)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    
</pre>
<p/>
<p>Operating Expenses</p>
<p/>
<p>Selling and administrative expenses totaled US$16.9 million, or 31.3% of sales, in the second quarter of fiscal 2010 compared to US$15.8 million, or 34.1% of sales, in the same period last year and US$15.4 million, or 33.7% of sales, in the first quarter of 2010.</p>
<p>Gross research and development expenses amounted to US$10.4 million, or 19.2% of sales, in the second quarter of fiscal 2010 compared to US$8.8 million, or 19.0% of sales, in the second quarter of 2009 and US$9.8 million, or 21.5% of sales, in the first quarter of 2010.</p>
<p>Net R&D expenses totaled US$8.8 million, or 16.3% of sales, in the second quarter of fiscal 2010 compared to US$7.3 million, or 15.8% of sales, in the same period last year and US$8.3 million, or 18.2% of sales, in the first quarter of 2010.</p>
<p/>
<p>Second-Quarter Highlights</p>
<p/>
<p>IP Fixed-Mobile Network Convergence and Broadband Deployments - EXFO announced several new product introductions in the second quarter related to its key growth drivers: IP fixed-mobile network convergence and broadband deployments. Major product launches included the release of a service assurance solution for 4G/LTE mobile broadband networks; the implementation of a new standards-based test (EtherSAM) across EXFO's Ethernet product offering; and a high-resolution optical spectrum analyzer (OSA) for in-depth characterization of 40 Gbit/s or 100 Gbit/s networks. Altogether, EXFO launched six new products in the second quarter of fiscal 2010, while 41.3% of sales were derived from products on the market two years or less. The company also reported that its AXS-200/635 Triple-Play Test Set had been approved by four tier-1 network operators to support their respective deployments of next-generation VDSL2 services and applications. Approximately US$2 million in orders were recognized in the second quarter of 2010.</p>
<p>Following the quarter-end EXFO announced the acquisition of NetHawk, a leading supplier of 2G, 3G and 4G/LTE wireless test and service assurance solutions. NetHawk enables EXFO not only to expand into the high-growth 3G and 4G/LTE wireless market, but also provide end-to-end solutions that assess the performance and reliability of converged, IP fixed and mobile networks.</p>
<p/>
<p>Profitable Growth Path - EXFO reported EBITDA of US$5.7 million, or 10.6% of sales, in the second quarter of fiscal 2010 on revenue of US$54.1 million compared to EBITDA of US$6.0 million, or 12.6% of sales, in the second quarter of 2009 on revenue of US$46.4 million. It should be noted EXFO recorded a pre-tax, foreign exchange loss of US$1.0 million in the second quarter of 2010 compared to a gain of US$1.1 million in the same period in 2009. Foreign exchange losses or gains are included in EBITDA. In contrast, the company generated US$3.9 million in earnings from operations, or 7.3% of sales, in the second quarter of 2010 compared to US$2.6 million, or 5.6% of sales, in the second quarter of 2009.</p>
<p/>
<p>Updated Corporate Performance Objectives</p>
<p/>
<p>Following the recent acquisition of NetHawk, EXFO updated its corporate performance objectives for the same three-year period extending from fiscal 2010 to 2012.</p>
<p/>
<pre>
    
    -------------------------------------------------------------------------
    Former Corporate Performance          New Corporate Performance
    Objectives                            Objectives
    -------------------------------------------------------------------------
    Increase sales by a CAGR of 20%       Increase sales by a CAGR of at
                                          least 25%
    -------------------------------------------------------------------------
    Raise gross margin to 64%             Raise gross margin to 64%
    -------------------------------------------------------------------------
    Double EBITDA* in dollars           Increase EBITDA* in dollars by a
    (CAGR of 26%)                         CAGR of at least 30%
    -------------------------------------------------------------------------

    * EBITDA is defined as net earnings (loss) before interest, income
        taxes, amortization of property, plant and equipment, amortization of
        intangible assets, impairment of goodwill and extraordinary gain.
    
</pre>
<p/>
<p>Business Outlook</p>
<p/>
<p>EXFO forecasted sales between US$60 million and US$65 million and GAAP net results between a loss of US$0.03 per share and earnings of US$0.01 per share for the third quarter of 2010. GAAP net results assume an after-tax foreign exchange loss of US$0.02 per share and include US$0.04 per share in after-tax amortization of intangible assets and stock-based compensation costs.</p>
<p>This guidance was established by management based on existing backlog as of the date of this press release, seasonality, expected bookings for the remainder of the quarter, current exchange rates, as well as the preliminary allocation of the purchase price of the NetHawk acquisition.</p>
<p/>
<p>Conference Call and Webcast</p>
<p/>
<p>EXFO will host a conference call today at <span class="xn-chron">5 p.m. (Eastern time</span>) to review its financial results for the second quarter of fiscal 2010. To listen to the conference call and participate in the question period via telephone, dial 1-416-359-1270. Germain Lamonde, Chairman, President and CEO, and <span class="xn-person">Pierre Plamondon</span>, CA, Vice-President of Finance and Chief Financial Officer, will participate in the call. An audio replay of the conference call will be available one hour after the event until <span class="xn-chron">7 p.m.</span> on <span class="xn-chron">April 6, 2010</span>. The replay number is 1-402-977-9141 and the reservation number is 21462627. The audio Webcast and replay of the conference call will also be available on EXFO's Website at <a href="http://www.EXFO.com">www.EXFO.com</a>, under the Investors section.</p>
<p/>
<p>About EXFO</p>
<p/>
<p>EXFO is a leading provider of next-generation test and service assurance solutions for wireless and wireline network operators and equipment manufacturers in the global telecommunications industry. The Telecom Division, which accounts for more than 90% of the company's revenues, offers core-to-edge solutions that assess the performance and reliability of converged, IP fixed and mobile networks. Key technologies supported include 3G, 4G/LTE, IMS, Ethernet, OTN, xDSL, and various optical technologies accounting for an estimated 33% of the portable fiber-optic test market. The Life Sciences and Industrial Division provides solutions in medical device and opto-electronics assembly, fluorescence microscopy and other life science sectors. EXFO has a staff of approximately 1,600 people in 25 countries, supporting more than 2,000 customers worldwide. For more information, visit <a href="http://www.EXFO.com">www.EXFO.com</a>.</p>
<p/>
<p>Forward-Looking Statements</p>
<p/>
<p>This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and we intend that such forward-looking statements be subject to the safe harbors created thereby. Forward-looking statements are statements other than historical information or statements of current condition. Words such as may, will, expect, believe, anticipate, intend, could, estimate, continue, or the negative or comparable terminology, are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events and circumstances are considered forward-looking statements. They are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those in forward-looking statements due to various factors including our ability to successfully integrate our acquired and to-be-acquired businesses; fluctuating exchange rates; consolidation in the global telecommunications test, measurement and service assurance industry and increased competition among vendors; capital spending levels in the telecommunications, life sciences and high-precision assembly sectors; concentration of sales; the effects of the additional actions we have taken in response to economic uncertainty (including our ability to quickly adapt cost structures with anticipated levels of business, ability to manage inventory levels with market demand); market acceptance of our new products and other upcoming products; limited visibility with regards to customer orders and the timing of such orders; our ability to successfully expand international operations; the retention of key technical and management personnel; and future economic, competitive, financial and market condition.</p>
<p>Assumptions relating to the foregoing involve judgments and risks, all of which are difficult or impossible to predict and many of which are beyond our control. Other risk factors that may affect our future performance and operations are detailed in our Annual Report, on Form 20-F, and our other filings with the U.S. Securities and Exchange Commission and the Canadian securities commissions. We believe that the expectations reflected in the forward-looking statements are reasonable based on information currently available to us, but we cannot assure you that the expectations will prove to have been correct. Accordingly, you should not place undue reliance on these forward-looking statements. These statements speak only as of the date of this press release. Unless required by law or applicable regulations, we undertake no obligation to revise or update any of them to reflect events or circumstances that occur after the date of this document.</p>
<p/>
<p>Non-GAAP Financial Measure</p>
<p/>
<p>EXFO provides a non-GAAP financial measure (EBITDA*) as supplemental information regarding its operational performance. EXFO uses EBITDA for the purposes of evaluating its historical and prospective financial performance, as well as its performance relative to competitors. This measure also helps EXFO's management to plan and forecast future periods as well as to make operational and strategic decisions. EXFO believes that providing this information to investors, in addition to GAAP measures, allows them to see the company's results through the eyes of management, and to better understand historical and future financial performance.</p>
<p>The presentation of this additional information is not prepared in accordance with GAAP. Therefore, the information may not necessarily be comparable to that of other companies and should be considered as a supplement to, not a substitute for, the corresponding measures calculated in accordance with GAAP.</p>
<p/>
<p>The following table summarizes the reconciliation of EBITDA to GAAP net earnings (in thousands of US dollars):</p>
<p/>
<pre>
    
                                        Q2 2010       Q2 2009       Q1 2010
                                   ------------- ----------------------------

    GAAP net earnings for the
     period                        $      1,154  $      2,655  $        334

    Add (deduct):

    Amortization of property,
     plant and equipment                  1,312         1,049         1,291
    Amortization of intangible
     assets                               1,502         1,246         1,469
    Interest (income) expense                76          (175)           42
    Income taxes                          1,668         1,209         1,243
                                   ------------- ------------- --------------

    EBITDA for the period          $      5,712  $      5,984  $      4,379
                                   ------------- ------------- --------------
                                   ------------- ------------- --------------

    EDITDA in percentage of sales          10.6%         12.9%          9.6%
                                   ------------- ------------- --------------
                                   ------------- ------------- --------------

    * EBITDA is defined as net earnings before interest, income taxes,
        amortization of property, plant and equipment and amortization of
        intangible assets.



                                  EXFO Inc.
                 Unaudited Interim Consolidated Balance Sheet

                         (in thousands of US dollars)

                                                        As at         As at
                                                  February 28,    August 31,
                                                         2010          2009
                                                 ------------- --------------

    Assets

    Current assets
    Cash                                         $     15,879  $     10,611
    Short-term investments                             55,876        59,105
    Accounts receivable
      Trade                                            31,961        22,946
      Other                                             4,442         2,752
    Income taxes and tax credits recoverable            3,752         2,353
    Inventories                                        35,286        30,863
    Prepaid expenses                                    2,755         2,043
    Future income taxes                                 5,559         5,538
                                                 ------------- --------------

                                                      155,510       136,211

    Tax credits recoverable                            29,970        26,762

    Forward exchange contracts                            398           428

    Property, plant and equipment                      18,981        19,100

    Intangible assets                                  15,311        16,859

    Goodwill                                           23,420        22,478

    Future income taxes                                15,644        18,533
                                                 ------------- --------------

                                                 $    259,234  $    240,371
                                                 ------------- --------------
                                                 ------------- --------------
    Liabilities

    Current liabilities
    Accounts payable and accrued liabilities     $     25,189  $     21,650
    Deferred revenue                                    9,193         6,481
                                                 ------------- --------------

                                                       34,382        28,131

    Deferred revenue                                    4,845         4,195
                                                 ------------- --------------

                                                       39,227        32,326
                                                 ------------- --------------

    Shareholders' equity

    Share capital                                     105,583       104,846
    Contributed surplus                                17,992        17,758
    Retained earnings                                  45,397        43,909
    Accumulated other comprehensive income             51,035        41,532
                                                 ------------- --------------

                                                      220,007       208,045
                                                 ------------- --------------

                                                 $    259,234  $    240,371
                                                 ------------- --------------
                                                 ------------- --------------


                                  EXFO Inc.
            Unaudited Interim Consolidated Statements of Earnings

        (in thousands of US dollars, except share and per share data)

                     Three months    Six months  Three months    Six months
                            ended         ended         ended         ended
                      February 28,  February 28,  February 28,  February 28,
                             2010          2010          2009          2009
                     ------------- ------------- ------------- --------------

    Sales            $     54,110  $     99,670  $     46,372  $     92,735

    Cost of sales
     (1,2)                 21,633        38,071        18,353        35,833
                     ------------- ------------- ------------- --------------

    Gross margin           32,477        61,599        28,019        56,902
                     ------------- ------------- ------------- --------------

    Operating
     expenses
    Selling and
     administrative(1)     16,919        32,280        15,800        32,891
    Net research and
     development(1)         8,809        17,082         7,325        14,546
    Amortization of
     property, plant
     and equipment          1,312         2,603         1,049         2,208
    Amortization of
     intangible
     assets                 1,502         2,971         1,246         2,565
                     ------------- ------------- ------------- --------------

    Total operating
     expenses              28,542        54,936        25,420        52,210
                     ------------- ------------- ------------- --------------

    Earnings from
     operations             3,935         6,663         2,599         4,692

    Interest income
     (expense)                (76)         (118)          175           641
    Foreign exchange
     gain (loss)           (1,037)       (2,146)        1,090         5,658
                     ------------- ------------- ------------- --------------

    Earnings before
     income taxes           2,822         4,399         3,864        10,991

    Income taxes
    Current                  (236)         (149)          297           236
    Future                  1,904         3,060           912         2,813
                     ------------- ------------- ------------- --------------

                            1,668         2,911         1,209         3,049
                     ------------- ------------- ------------- --------------

    Net earnings for
     the period      $      1,154  $      1,488  $      2,655  $      7,942
                     ------------- ------------- ------------- --------------
                     ------------- ------------- ------------- --------------

    Basic net
     earnings per
     share           $       0.02  $       0.03  $       0.04  $       0.12

    Diluted net
     earnings per
     share           $       0.02  $       0.02  $       0.04  $       0.12

    Basic weighted
     average number
     of shares
     outstanding
     (000's)               59,427        59,406        60,875        64,108

    Diluted weighted
     average number
     of shares
     outstanding
     (000's)               60,529        60,325        61,375        64,546

    (1) Stock-based
         compensation
         costs
         included
         in:
        Cost of
         sales       $         43  $         84  $         31  $         60
        Selling and
         adminis-
         trative              302           570           198           399
        Net
         research and
         development          124           233            96           188
                     ------------- ------------- ------------- --------------

                     $        469  $        887  $        325  $        647
                     ------------- ------------- ------------- --------------
                     ------------- ------------- ------------- --------------

    (2) The cost of sales is exclusive of amortization, shown separately.


                                  EXFO Inc.
    Unaudited Interim Consolidated Statements of Comprehensive Income (Loss)
                 and Accumulated Other Comprehensive Income

                         (in thousands of US dollars)

    Comprehensive income (loss)

                     Three months    Six months  Three months    Six months
                            ended         ended         ended         ended
                      February 28,  February 28,  February 28,  February 28,
                             2010          2010          2009          2009
                     ------------- ------------- ------------- --------------

    Net earnings for
     the period      $      1,154  $      1,488  $      2,655  $      7,942
    Foreign currency
     translation
     adjustment               989         8,802        (4,646)      (41,579)
    Changes in
     unrealized losses
     on short-term
     investments                -             -             -            22
    Unrealized gains
     (losses) on
     forward exchange
     contracts                158         1,322        (1,734)       (8,663)
    Reclassification
     of realized
     gains (losses)
     on forward
     exchange
     contracts in
     net earnings            (382)         (305)        1,371         1,234
    Future income
     taxes effect of
     the above items           69          (316)          113         2,303
                     ------------- ------------- ------------- --------------

    Comprehensive
     income (loss)   $      1,988  $     10,991  $     (2,241) $    (38,741)
                     ------------- ------------- ------------- --------------
                     ------------- ------------- ------------- --------------


    Accumulated other comprehensive income
                                                        Six months ended
                                                           February 28,
                                                 ----------------------------

                                                         2010          2009
                                                 ------------- --------------
    Foreign currency translation adjustment
      Cumulative effect of prior periods         $     40,458  $     51,129
      Current period                                    8,802       (41,579)
                                                 ------------- --------------

                                                       49,260         9,550
                                                 ------------- --------------
    Unrealized gains (losses) on forward
     exchange contracts
      Cumulative effect of prior periods                1,076           (96)
      Current period, net of realized gains
       (losses) and future income taxes                   701        (5,126)
                                                 ------------- --------------

                                                        1,777        (5,222)
                                                 ------------- --------------
    Unrealized losses on short-term investments
      Cumulative effect of prior periods                   (2)          (24)
      Current period, net of future income taxes            -            22
                                                 ------------- --------------

                                                           (2)           (2)
                                                 ------------- --------------

    Accumulated other comprehensive income       $     51,035  $      4,326
                                                 ------------- --------------
                                                 ------------- --------------

    Total retained earnings and accumulated other comprehensive income
    amounted to $72,762 and $96,432 as at February 28, 2009 and 2010,
    respectively.


                                  EXFO Inc.
       Unaudited Interim Consolidated Statements of Retained Earnings
                           and Contributed Surplus

                         (in thousands of US dollars)

    Retained earnings
                                                        Six months ended
                                                           February 28,
                                                 ----------------------------

                                                         2010          2009
                                                 ------------- --------------

    Balance - Beginning of the period            $     43,909  $     60,494

    Add
    Net earnings for the period                         1,488         7,942
                                                 ------------- --------------

    Balance - End of the period                  $     45,397  $     68,436
                                                 ------------- --------------
                                                 ------------- --------------


    Contributed surplus
                                                        Six months ended
                                                           February 28,
                                                 ----------------------------
                                                         2010          2009
                                                 ------------- --------------

    Balance - Beginning of the period            $     17,758  $      5,226

    Add (deduct)
    Stock-based compensation costs                        858           639
    Reclassification of stock-based compensation
     costs to share capital upon exercise of
     stock awards                                        (627)         (452)
    Discount on redemption of share capital                 3        11,257
                                                 ------------- --------------

    Balance - End of the period                  $     17,992  $     16,670
                                                 ------------- --------------
                                                 ------------- --------------


                                  EXFO Inc.
           Unaudited Interim Consolidated Statements of Cash Flows

                         (in thousands of US dollars)

                     Three months    Six months  Three months    Six months
                            ended         ended         ended         ended
                      February 28,  February 28,  February 28,  February 28,
                             2010          2010          2009          2009
                     ------------- ------------- ------------- --------------
    Cash flows from
     operating
     activities
    Net earnings for
     the period      $      1,154  $      1,488  $      2,655  $      7,942
    Add (deduct)
     items not
     affecting cash
      Change in
       discount on
       short-term
       investments              7             9           135           591
      Stock-based
       compensation
       costs                  469           887           325           647
      Amortization          2,814         5,574         2,295         4,773
      Deferred revenue      3,465         2,923         3,070         3,423
      Future income
       taxes                1,904         3,060           912         2,813
      Change in
       unrealized
       foreign
       exchange
       (gain) loss            273         1,043          (601)       (4,057)
                     ------------- ------------- ------------- --------------

                           10,086        14,984         8,791        16,132

    Change in non-cash
     operating items
      Accounts
       receivable          (5,127)       (9,229)        4,508        (2,817)
      Income taxes
       and tax credits     (1,866)       (3,371)          352          (344)
      Inventories            (762)       (3,113)          488           121
      Prepaid expenses        (10)         (615)          308          (234)
      Accounts payable
       and accrued
       liabilities          2,645         3,675         1,849           762
                     ------------- ------------- ------------- --------------

                            4,966         2,331        16,296        13,620
                     ------------- ------------- ------------- --------------
    Cash flows from
     investing
     activities
    Additions to
     short-term
     investments         (101,643)     (180,597)     (133,364)     (255,464)
    Proceeds from
     disposal and
     maturity of
     short-term
     investments          104,926       186,262       149,501       276,106
    Additions
     to capital
     assets(1)             (1,464)       (2,809)       (2,946)       (4,460)
                     ------------- ------------- ------------- --------------

                            1,819         2,856        13,191        16,182
                     ------------- ------------- ------------- --------------
    Cash flows from
     financing
     activities
    Exercise of stock
     options                  127           127             5            31
    Redemption of
     share capital              -           (14)      (25,631)      (26,078)
                     ------------- ------------- ------------- --------------

                              127           113       (25,626)      (26,047)
                     ------------- ------------- ------------- --------------

    Effect of foreign
     exchange rate
     changes on cash         (135)          (32)          (72)         (439)
                     ------------- ------------- ------------- --------------

    Change in cash          6,777         5,268         3,789         3,316

    Cash - Beginning
     of period              9,102        10,611         5,441         5,914
                     ------------- ------------- ------------- --------------

    Cash - End of
     period          $     15,879  $     15,879  $      9,230  $      9,230
                     ------------- ------------- ------------- --------------
                     ------------- ------------- ------------- --------------

    (1) As at February 28, 2009 and 2010, unpaid purchases of capital assets
        amounted to $614 and $67, respectively.
    

For further information: For further information: Vance Oliver, Manager, Investor Relations, (418) 683-0913, Ext. 3733, vance.oliver@exfo.com

Organization Profile

EXFO Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890