Wednesday, August 31, 2011

Ciena Posts Revenue of $435.3 million

Ciena reported revenue of $435.3 million for its fiscal third quarter ended July 31, 2011. GAAP net loss was $(31.5) million, or $(0.33) per common share, which compares to a GAAP net loss of $(109.9) million, or $(1.18) per common share, for the fiscal third quarter 2010.

Non-U.S. customers contributed 48% of total revenue. One customer represented a total of 17% of revenue.

"Our third quarter results, which included a favorable product mix and reduced operating expense to achieve an as-adjusted operating profit, demonstrate our early progress in delivering additional operating leverage from the business," said Gary Smith, president and CEO of Ciena. "Despite current macroeconomic headwinds that could cause the rate of market growth to be moderated, we believe that we are well-positioned to capitalize on the continued modernization of today's networks and to grow faster than the market."