EXFO Inc. reported unaudited consolidated earnings results for the first quarter ended November 30, 2013. For the quarter, sales reached $56.0 million in the compared to $59.8 million in the first quarter of 2013. Net loss totaled $0.7 million, or $0.01 per share, compared to a net loss of $1.6 million, or $0.03 per share, in the same period last year and net earnings of $3.8 million, or $0.06 per diluted share, in the fourth quarter of 2013. Adjusted EBITDA totaled $2.3 million, or 4.1% of sales, in the first quarter of fiscal 2014 compared to $2.7 million, or 4.5% of sales, in the first quarter of 2013. Earnings before income taxes were $201,000 compared to loss before taxes of $506,000 a year ago. The company's cash position increased to $52.6 million at the end of first quarter of 2014 from $50.3 million in the previous quarter. This $2.3 million increase is mainly due to $3.3 million in cash flow from operating activities, which was partially offset by $0.7 million for the purchase of capital assets and $24 million for an unrealized from its cash and short-term investments.

The company forecasts sales between $53.0 million and $58.0 million for the second quarter of fiscal 2014, while net loss is expected to range between $0.05 and $0.01 per share. Net loss includes $0.02 per share in after-tax amortization of intangible assets and stock-based compensation costs.