A burst-mode Rx is provided that has a wide dynamic range, low pulse-width distortion and low technological overhead. The Rx is capable of processing signals having levels that range from low noise levels up to high noise levels. In addition, the Rx is capable of quickly and simultaneously adapting the TIA gain and the bit decision threshold level, thereby eliminating the need to transmit and receive a training bit sequence prior to transmitting and receiving actual data. By simultaneously adapting the TIA gain and the bit decision threshold level on the first bit of actual data received in the Rx, the Rx is capable of being used with short packets and with packets of varying lengths transmitted from different types of transmitters located in the same network.