Ciena reports positive, improved Q3 2018 financial results

Created September 3, 2018
News and Business

Year-on-year revenue growth of 12% reflects “strong execution and another quarter of consistent performance”, says firm.

Global photonics and communications company Ciena has announced unaudited financial results for its fiscal third quarter ended July 31, 2018. Gary Smith, president and CEO of Ciena, commeneted, “The combination of continued execution against our strategy and robust, broad-based customer demand resulted in outstanding fiscal third quarter performance.

“With our diversification, global scale and innovation leadership, we remain confident in our business model and our ability to achieve our three-year financial targets,” he added.

Highlights
– Q3 Revenue: $818.8 million, increasing 12.4% year over year
– Q3 Net Income per Share: $0.34 GAAP; $0.48 adjusted (non-GAAP)
– Share Repurchases: Repurchased approximately 1.4 million shares of common stock for an aggregate price of $35.6 million during the quarter

For the fiscal third quarter 2018, Ciena reported revenue of $818.8 million as compared to $728.7 million for the fiscal third quarter 2017. The company’s GAAP net income for the fiscal third quarter 2018 was $50.8 million, or $0.34 per diluted common share, which compares to a GAAP net income of $60.0 million, or $0.39 per diluted common share, for the fiscal third quarter 2017.

Adjusted (non-GAAP) net income for the fiscal third quarter 2018 was $74.3 million, or $0.48 per diluted common share, which compares to an adjusted (non-GAAP) net income of $56.4 million, or $0.35 per diluted common share, for the fiscal third quarter 2017.

Further information and tables showing the results in detail are available on the Ciena website.

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This article was written
by Matthew Peach

Matthew Peach is a freelance technology journalist specialising in photonics and communications. He has previously worked for several business-to-business publishers, editing a range of high-tech magazines and websites.