Wednesday, June 1, 2005

Ciena Report Income of $104 Million, Loss of $75 Million

Ciena reported quarterly revenue of $103.8 million, representing a 9.6% sequential increase, and an increase of 39.0% over the same period a year ago. Net loss (GAAP) for the quarter was $74.8 million, or a net loss of $0.13 per share.

The company said it reduced cash burn from operations by 15.5% sequentially, from $43.3 million in the preceding quarter to $36.6 million in the current quarter. Ciena ended the quarter with cash and short-and long-term investments valued at $1.19 billion.

"With our fifth sequential quarter of solid revenue growth, we are growing faster than the market and beginning to take share on a global basis. In addition to strong revenue growth, we continue to improve other important financial metrics, including delivering gross margin improvement and reducing our use of cash in our fiscal second quarter," said Gary Smith, Ciena's president and CEO.


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