Thursday, March 7, 2013

Ciena Posts Solid Q1 with Sales of $453 Million

Ciena reported solid results for its first quarter of fiscal 2013, ended January 31, 2013, with revenue of $453.1 million.  There was a GAAP net loss for the fiscal first quarter 2013  of $(47.3) million, or $(0.47) per common share, which compares to a GAAP net loss of $(47.7) million, or $(0.49) per common share, for the fiscal first quarter 2012.

"Our strong first quarter performance reflects a solid start to our fiscal year," said Gary Smith, president and CEO of Ciena. “We have positioned Ciena to take advantage of the underlying market dynamics, which are increasingly aligned with our strategy and competitive strengths. We believe the combination of our technology and market share leadership as well as our strategic customer relationships will enable us to continue growing faster than the market."

Sales of the 6500 platform reached $206 million for the quarter.