CIENA Reports Quarterly Revenue of $68.5 Million

CIENA reported quarterly revenue of $68.5 million for the period ending 31-July-03, an increase of 37% from the same period a year ago. CIENA’s reported net loss for the period was $88.9 million, or a net loss of $0.20 per share (GAAP). During the quarter, CIENA added seven new customers, including two incumbent carriers. CIENA said its strategic plan is to evolve into a comprehensive network solutions provider, and that to thrive in today’s telecom environment, it must get bigger, not smaller. Rather than simply cost-cut its way back to sustainable profitability, CIENA plans to expand its addressable markets while simultaneously reducing and realigning its spending.
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