Wednesday, March 3, 2010

Ciena Reports Revenue of $176 Million, Delays

Ciena reported revenue for its fiscal first quarter 2010 (ended 31-Jan-2010) of $175.9 million, which compares to $167.4 million for the fiscal first quarter 2009.

Ciena's net loss (GAAP) for the fiscal first quarter 2010 was $(53.3) million, or $(0.58) per common share, which compares to a GAAP net loss of $(24.8) million, or $(0.27) per diluted common share for the fiscal first quarter of 2009.

"Revenue recognition delays associated with initial deployments of new platforms with certain customers adversely impacted fiscal first quarter revenue," said Gary Smith, Ciena's CEO and president."However, with strong order flow in the quarter we remain encouraged by continued signs of an improving market environment."

"Based on our current view of the business, we anticipate that our fiscal second quarter revenue will be in the range of $185 million to $195 million," stated Smith. "We also expect that as-adjusted gross margin will be within our target range of mid to high 40s, and as-adjusted operating expense exclusive of integration costs will be roughly flat with that of our first fiscal quarter."

Ciena also confirmed that its acquisition of Nortel's MEN division is now expected to close by end of March.