CIENA Reports Revenue of $70.5 million, up 14% Sequentially

CIENA reported revenue of $70.5 million for the quarter ended January 31, up 14% over the previous period. There was a GAAP net loss for the period of $107.1 million, or $0.25 per share. The company said it made good progress during the quarter toward profitability. It was the second sequential quarter in which revenues increased and margins improved. CIENA ended the quarter with cash and securities valued at $1.9 billion. Regarding its business outlook for the current quarter, CIENA expects revenues to be flat or up slightly.
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