Thursday, March 6, 2008

Ciena Posts Revenue of $227 Million, up 38% YoY

For its fiscal first quarter ended January 31, 2008, Ciena reported revenue of $227.4 million, representing an increase of 38% over the same period a year ago when the company reported sales of $165.1 million. Ciena's net income (GAAP) for the fiscal first quarter 2008 was $28.8 million, or $0.28 per diluted share. This compares to a reported GAAP net income of $11.1 million, or $0.12 per diluted share, for the same period a year ago.

"While we are mindful of the macro economic environment, indications from our customers to date suggest no change in the fundamental drivers of Ciena's business: the demand for increasing network capacity and the transition to Ethernet/IP-based network infrastructures. Accordingly, we remain optimistic about our outlook for the year," said Gary Smith, Ciena's president and CEO. "Inclusive of revenue expected from our recently closed acquisition of World Wide Packets, we anticipate current demand trends will enable us to deliver annual revenue growth in a range, up to 27 percent in fiscal 2008."