CIENA reported quarterly revenues of $73.5 million, representing sequential growth of 4% from the prior fiscal quarter. On a GAAP basis, CIENA’s reported net loss for the period was $75.5 million, or a net loss of $0.17 per share. Without special charges, the company’s net loss in the quarter would be $0.10 per share. CIENA said that carriers continue to exercise extreme spending caution, perpetuating the challenging telecom equipment environment. Some highlights of the quarter:
- there were 65 customers in the quarter, including 7 new, unannounced customers. Three customers accounted for about 43% of total revenue in the quarter.
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Domestic sales represented 68% of revenue
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CIENA ended the quarter with $1.8 billion in cash, short- and long-term securities
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Headcount at the end of the quarter was 2,005, a decrease of 56 since January
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BT plans to deploy a full range of CIENA’s LightWorks products. The contract represents a significant win for CIENA among large incumbent carriers.
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CIENA is transforming itself from an optical equipment provider to a network solutions company. The acquisition of WaveSmith its expected to open up a $2 billion market opportunity for CIENA in ATM, Frame Relay and MPLS solutions. After the acquisition closes in mid-June, WaveSmith will be CIENA’s data networking group.
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CIENA’s LightWorks Services initiative, announced last week, is the next step in CIENA’s efforts to help carriers launch new services without completely rebuilding their network architectures.
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Revenue for the current quarter is expected to be in a range of $65 to $75 million.
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