Optical networking equipment revenue fell 23% Q/Q in Q1, estimates Infonetics - a sharp decline even after accounting for seasonality. A 30%+ drop in EMEA sales overshadowed a small drop in North American sales. The firm is particularly worried about the fact EMEA sales of WDM gear fell more than sales of legacy gear. "This is not the behavior of a region experiencing only a minor quarterly pullback," it observes. Some key industry players: CIEN, INFN, ALU, SCMR, TLAB, ADTN.