Tuesday, February 22, 2005

Ciena Reports 16% Sequential Revenue Growth

Ciena reported first quarter revenue of $94.7 million, representing a 16% sequential increase, and an increase of 43% over the same period a year ago. On a GAAP basis, Ciena's reported net loss for the fiscal first quarter was $57.0 million, or a net loss of $0.10 per share. This loss compares to a GAAP net loss of $76.7 million, or a net loss of $0.16 per share, in the same period a year ago.

Ciena recognized revenue from two customers that each contributed more than 10% of the fiscal first quarter's total revenue. Combined, the two ten percent customers accounted for 31.7% of the quarter's total revenue. In addition, approximately 83% of Ciena's business in the fiscal first quarter came from domestic customers.

As a result of product mix, Ciena's gross margin in the quarter was 25.6%, compared to 29.5% in its fiscal fourth quarter.

"Strong growth from a number of application areas, including core optical transport, core switching and data networking, fueled revenue growth in our fiscal first quarter," said Gary Smith, Ciena's president and CEO. "While our traditional specialty of core networking continues to be a focus for us, one of the most telling signs of the scope and progress of our efforts to become a more strategic provider is that we have increased the number of customers purchasing from multiple product lines by 73 percent compared to the first quarter of 2004 and we're looking to build on that momentum."http://www.ciena.com


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