EXFO Inc. reported unaudited consolidated earnings results for the first quarter ended November 30, 2014. For the quarter, sales reached $56.7 million in the first quarter of fiscal 2015 compared to $56.0 million in the first quarter of 2014. Net earnings in the first quarter of fiscal 2015 totaled $1.5 million, or $0.02 per diluted share, compared to a net loss of $0.7 million, or $0.01 per share, in the same period last year and net earnings of $1.2 million, or $0.02 per diluted share, in the fourth quarter of 2014. Adjusted EBITDA totaled $3.2 million, or 5.6% of sales, in the first quarter of fiscal 2015 compared to $2.3 million, or 4.1% of sales, in the first quarter of 2014. Earnings before income taxes were $2.6 million compared to loss before taxes of $0.2 million a year ago. The company also delivered $1.9 million in cash flows from operating activities compared to $0.938 million a year ago.

The company forecasts sales between $52.0 million and $57.0 million for the second quarter of fiscal 2015, while net results are expected to range between a net loss of $0.03 per share and net earnings of $0.01 per share. Net loss/earnings include $0.02 per share in after-tax amortization of intangible assets and stock-based compensation costs.