Wednesday, August 31, 2005

Ciena Reports Revenues of $110.5 million

Ciena reported quarterly revenue of $110.5 million, representing a 6.4% sequential increase from fiscal second quarter revenue of $103.8 million, and an increase of 46.2% over the same period a year ago when the company reported sales of $75.6 million.

Ciena's reported net loss (GAAP) for the fiscal third quarter was $51.0 million, or a net loss of $0.09 per share. This loss compares to a GAAP net loss of $141.5 million, or a net loss of $0.25 per share, in the same period a year ago. Overall gross margin improved from 26.2% in the second fiscal quarter to 34.1% in the third quarter.

"Signs that we are executing our plan and that our application-focused, network specialist approach to the market is on target, are evident in our fiscal third quarter results," said Gary Smith, Ciena's president and CEO.

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