Ciena reports positive fiscal second quarter 2016 financial results

Created June 14, 2016
News and Business

Ciena, the network specialist, has announced financial results for its fiscal second quarter, which ended April 30, 2016. For the quarter, the company reported revenue of $640.7 million as compared to $621.6 million for the fiscal second quarter 2015.

Ciena’s adjusted (non-GAAP) net income for the fiscal second quarter 2016 was $52.4 million, or $0.34 per diluted common share, which compares to an adjusted net income of $47.3 million, or $0.35 per diluted common share, for the fiscal second quarter 2015.

“This quarter’s strong financial performance is a result of the investments we’ve made to diversify our business, in particular the expansion of our packet business and our momentum in key geographies,” said Gary B. Smith, president and CEO, Ciena.

“As the industry shifts toward an on-demand networking model across an open ecosystem, we are confident in our ability to address those demands with a broader set of customers, applications and geographies to deliver sustainable long-term growth and increased profitability,” he added.

For the current quarter, Ciena anticipates revenue in the range of $655 million to $685 million, with adjusted gross margin remaining in the mid-40s percentage range, and adjusted operating expenses of roughly $225 million. Analysts, on average, were predicting fiscal Q3 revenue of $664.3 million, below the $670 million midpoint of Ciena’s guidance.

Link: http://www.ciena.com/about/newsroom/press-releases/Ciena-Reports-Fiscal-Second–Quarter-2016-Financial—Results.html

Optical Connections News Team

This article was written
by Optical Connections News Team