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September 9, 2010

Ciena Q3 revenues peaks to $389.7m

Expects Q4 revenue to increase by 5%

By CBR Staff Writer

Ciena has reported total revenues of $389.7m for the third quarter of 2010, an increase of 136.5% compared to $164.7m for the same quarter in 2009.

The company’s operating loss was $99.5m for the quarter compared to loss of $22.9m for the same period last year.

The loss before income taxes for the third quarter was $108.2m compared to $26m for the same quarter prior year.

For the quarter ended 31 July 2010, the company posted net loss of $109.8m, or $1.18 per share, compared to $26.5m, or $0.29 per share, for the same period last year.

Ciena president and CEO Gary Smith said that the company’s financial performance this quarter is evidence of both strategic value and market acceptance of combined company, and its focus remains on the execution of integration plan, and also was able to achieve certain integration milestones.

The company expects a sequential increase in its fiscal fourth quarter revenue of up to 5%, and expects as-adjusted gross margin to be in the low 40s range.

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