Tuesday, June 8, 2010

Ciena Posts Q2 Revenue of $253.5 million

Ciena reported revenue of $253.5 million for its second quarter of fiscal 2010. This includes $53.5 million in revenue from the acquired assets of Nortel's Metro Ethernet Networks business (the MEN business), reflecting approximately six weeks of operations since the March 19, 2010 acquisition date.

Revenue from Ciena's pre-acquisition portfolio was $200.0 million, representing a 14% sequential improvement compared to fiscal first quarter revenue of $175.9 million, and a 39% improvement compared to the same period a year ago when Ciena reported revenue of $144.2 million. Some notes:

  • Ciena's net loss (GAAP) was $(90.0) million, or $(0.97) per common share, which compares to a GAAP net loss of $(503.2) million, or $(5.53) per common share, for the second fiscal quarter of 2009, which included a non-cash charge of $455.7 million for impairment of goodwill.

  • Non-U.S. customers contributed 29% of total revenue.

  • Two customers each accounted for greater than 10% of revenue, and 42% of total sales in the aggregate.

  • GAAP gross margin of 41%.