Wednesday, May 30, 2007

Ciena Posts Revenues of $193.5 million, up 17% Sequentially

Ciena reported revenue for its fiscal second quarter ended April 30, 2007 of $193.5 million, representing a 17.2% sequential increase from fiscal first quarter revenue of $165.1 million, and an increase of 47.5% over the same period a year ago. Ciena's net income (GAAP) for the fiscal second quarter 2007 was $13.0 million, or net income of $0.14 per diluted share. This compares with a reported GAAP net loss of $1.9 million, or a net loss of $0.02 per share, for the same period a year ago.

Second quarter 2007 highlights include:

  • Overall gross margin of 42.3% and product gross margin of 47.3%.

  • Positive cash flow with cash generated from operations in the quarter.

  • Ended the fiscal second quarter 2007 with cash, cash equivalents and short- and long-term investments of $1.2 billion.

"Given the demand pipeline we see today, we expect to deliver fiscal third quarter revenue growth of up to five percent from our fiscal second quarter, and we are increasing our fiscal 2007 annual growth expectations from between 27 to 30 percent growth to up to 36 percent growth," said Gary Smith, Ciena's president and CEO.

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