Ciena reported revenue of $646.1 million for the first quarter of its fiscal 2018, up 4% as compared to $621.5 million for the fiscal first quarter 2017.
Ciena’s fiscal first quarter 2018 GAAP results include a non-cash $476.9 million charge related to the enactment of the Tax Cuts and Jobs Act. As a result, Ciena’s GAAP net loss for the fiscal first quarter 2018 was $(473.4) million, or $(3.29) per diluted common share, which compares to a GAAP net income of $3.9 million, or $0.03 per diluted common share, for the fiscal first quarter 2017.
Ciena’s adjusted (non-GAAP) net income for the fiscal first quarter 2018 was $21.9 million, or $0.15 per diluted common share, which compares to an adjusted (non-GAAP) net income of $24.6 million, or $0.17 per diluted common share, for the fiscal first quarter 2017.
“We demonstrated a strong start toward achieving our long-term financial goals with our fiscal first quarter results, including year-over-year top-line growth, continued cash generation and a strengthening balance sheet,” said Gary B. Smith, president and CEO, Ciena. “We also are confident in our ability to continue driving market share gains across key geographies and customer segments by intersecting the industry’s demand drivers with leading innovation.”
Some highlights:
Revenue by geography:
North America 62.4%
EMEA 15.1%
CALA 5.4%
APAC 17.1%
- U.S. customers contributed 59.3% of total revenue
- Two customers each accounted for greater than 10% of revenue and in aggregate represented 25% of total revenue
- Cash and investments totaled $986.8 million
- Total number of employees: 5,712
