Ciena reports improved quarter and full-year 2016 results

News and Business

Ciena, the network specialist, has announced unaudited financial results for its fiscal fourth quarter and year ended October 31, 2016. For the fiscal fourth quarter 2016, Ciena reported revenue of $716.2 million as compared to $692.0 million for the fiscal fourth quarter 2015. For fiscal year 2016, Ciena reported revenue of $2.6 billion, as compared to $2.4 billion for fiscal year 2015.

Ciena’s adjusted net income for the fiscal fourth quarter 2016 was $69.4 million, or $0.44 per diluted common share, which compares to an adjusted net income of $67.3 million, or $0.42 per diluted common share, for the fiscal fourth quarter 2015.

For fiscal year 2016, Ciena’s adjusted net income was $214.6 million, or $1.38 per diluted common share, as compared to an adjusted net income of $179.0 million, or $1.31 per diluted common share for fiscal year 2015 (all figures non-GAAP).

“Our strong fiscal 2016 results demonstrate our increasingly differentiated performance versus our competitors, marking Ciena’s seventh consecutive year of growing faster than the overall market as well as steady improvement in our operating leverage, profitability and cash flow,” said Gary Smith, president and CEO, Ciena.

“We believe that the combination of our leading technology, strategic investments, global scale and business diversification will enable us to continue to take market share and drive operating leverage in fiscal 2017.”

Business Outlook for Q1 2017
Ciena expects financial performance for fiscal first quarter 2017 to include: revenue in the range of $615 million to $645 million; adjusted gross margin in the mid-40s percentage range; and adjusted operating expense in the range of $220 million to $225 million.

Link: Ciena reports fiscal fourth quarter and 2016 full year financial results