Light Reading
Cyan surpassed its second quarter revenue guidance and reported a lower net loss.

Cyan Reports Q2 Revenue Uptick

Light Reading
News Wire Feed
Light Reading
8/11/2014
50%
50%

PETALUMA, Calif.-- Cyan (NYSE: CYNI), a leading provider of SDN, NFV, and packet-optical solutions for network operators, today announced financial results for its second quarter ended June 30, 2014.

Revenue for the second quarter of 2014 exceeded prior guidance of $21 million to $23 million and reached $24.4 million. This compares to $19.0 million for the first quarter of 2014 and $31.7 million in the second quarter of 2013. GAAP net loss for the second quarter was $14.7 million, or $0.31 per share, compared to a net loss of $17.8 million, or $0.38 per share, in the first quarter of 2014 and $9.1 million, or $0.33 per share, in the same period last year.

On a non-GAAP basis, Cyan's net loss for the second quarter was $11.9 million, or $0.25 per share. This compares to a non-GAAP net loss of $15.3 million, or $0.33 per share, in the first quarter of 2014 and a non-GAAP net loss of $6.6 million, or $0.24 per share, in the same period last year. Both GAAP and non-GAAP net loss per share figures for the second quarter of 2014 are based on 46.9 million basic weighted average shares outstanding. Please refer to the attached financial statements for additional non-GAAP information and a reconciliation of GAAP to non-GAAP results as well as information regarding weighted average shares outstanding in each period.

“In the second quarter we remained focused on our key initiatives, announced several new customer and partner collaborations and launched Planet Orchestrate, a significant new addition to our Blue Planet SDN and NFV platform,” said Mark Floyd, Cyan’s chairman and chief executive officer. “We are pleased with our execution this quarter and with the momentum we see in the market.

“Service providers continue to advance their initiatives to transform their networks with SDN and NFV technologies. With the Blue Planet Platform, we believe Cyan is well positioned in the market and has a unique, first mover advantage in helping customers orchestrate both network and virtualized resources across multi-domain, multi-vendor networks," continued Floyd.

Second Quarter Highlights

Launched Planet Orchestrate – The industry’s first orchestration application that integrates Cloud Services, NFV, and WAN in multi-vendor and multi-domain networks. Unlike other siloed solutions on the market, Planet Orchestrate, an application for Cyan’s Blue Planet SDN Platform, combines the power of WAN service creation and automation with the orchestration of virtual resources – creating a software-defined engine for revenue generation in carrier networks.

  • Certes, the leader in multi-layer encryption solutions for high performance networks, and Fortinet, a global leader in high-performance network security, joined Blue Orbit, an ecosystem of partners focused on delivering real-world, multi-vendor SDN and network functions virtualization (NFV) applications.

  • With Blue Orbit partners Certes, Fortinet and RAD, Cyan demonstrated how Blue Planet can orchestrate multi-vendor distributed NFV in an official ETSI proof of concept (PoC) sponsored by Tier 1 service provider -- CenturyLink.

  • Collaborated with Telefónica and Red Hat to develop a deterministic NFV architecture to support the intelligent placement of virtualized network functions (VNFs). Cyan is delivering the NFV orchestrator that will make use of OpenStack enhancements developed by Red Hat in close collaboration with Telefónica.

    Cyan Inc.

    (0)  | 
    Comment  | 
    Print  | 
  • Newest First  |  Oldest First  |  Threaded View
    Flash Poll
    From The Founder
    It's clear to me that the communications industry is divided into two types of people, and only one is living in the real world.
    LRTV Huawei Video Resource Center
    Dr. Dong Sun Talks About Carriers' Digital Transformation & Huawei’s Telco OS

    1|29|15   |   6:28   |   (0) comments


    Dr. Dong Sun, Chief Architect of Digital Transformation Solutions at Huawei, discusses how telecom operators can become digital ecosystem enablers and deliver optimal user experiences that are in real-time, on-demand, all-online, DIY and social (ROADS).
    LRTV Huawei Video Resource Center
    Huawei's Chief Network Architect Talks about Network Experience & Operators’ Strategies

    1|29|15   |   3:39   |   (0) comments


    In the digital age, network experience has become the primary productivity especially for telecom operators. In this video, Wenshuan Dang, Huawei’s Chief Network Architect, discusses how carriers can tackle the challenge of infrastructure complexity in order to enhance business agility and improve user experience.
    LRTV Documentaries
    The Rise of Virtual CPE

    1|27|15   |   01:38   |   (4) comments


    As NFV strategies evolve from tests and trials to production telco networks, expect to hear a lot about virtual CPE (customer premises equipment) rollouts during 2015.
    LRTV Documentaries
    Optical Is Hot in 2015

    1|23|15   |   01:56   |   (2) comments


    Optical comms technology underpins the whole communications sector and there are some really hot trends set for 2015.
    LRTV Custom TV
    Policy Control in the Fast Lane

    1|22|15   |   2:57   |   (0) comments


    What's making policy control strategic in 2015 and beyond? Amdocs talks with Heavy Reading's Graham Finnie about the key factors driving change in the data services landscape. Find out what his policy management research reveals about the road ahead for policy control – and sign up for
    LRTV Documentaries
    Highlights From the 2020 Vision Executive Summit

    1|21|15   |   4:33   |   (2) comments


    In December 2014, Light Reading brought together telecom executives in Reykjavik, Iceland to discuss their vision for high-capacity networks through the end of the decade. The intimate, interactive meeting was set against the backdrop of Iceland's spectacular natural beauty. As one of the event's founding sponsors, Cisco's Doug Webster shared his company's ...
    LRTV Huawei Video Resource Center
    Huawei Pay-TV Partner Harmonic, Helping Carriers Accelerate 4K Video Deployment with Huawei

    1|20|15   |   5:42   |   (1) comment


    At IBC, Peter Alexander, Senior Vice President & CMO at Harmonic, speaks about the growing interest in pay-TV service and its branching into multiple devices.
    LRTV Huawei Video Resource Center
    Sony Marketing Director Olivier Bovis Discusses the Outlook for 4K and Cooperation With Huawei at IBC 2014

    1|20|15   |   6:50   |   (0) comments


    At IBC, Olivier Bovis, Marketing Director of Sony, speaks about the coming of the 4K era.
    LRTV Huawei Video Resource Center
    Huawei Pay-TV Partner Envivio, Helping Carriers Accelerate 4K Video Deployment

    1|20|15   |   2:57   |   (0) comments


    At IBC, Olivier Bovis, Marketing Director of Sony, speaks about the coming of the 4K era.
    LRTV Huawei Video Resource Center
    Pay-TV's Networked Future

    1|20|15   |   6:29   |   (0) comments


    At IBC, Jeff Heynen, Principal Analyst at Infonetics, speaks about the future of the pay-TV industry and its transition.
    LRTV Huawei Video Resource Center
    Jeff Heynen: Distributed Access Will Help MSOs Compete in the Future

    1|20|15   |   2:26   |   (0) comments


    At IBC, Jeff Heynen, Principal Analyst at Infonetics, speaks about moving to distributed access and the future trend of cable business.
    LRTV Interviews
    Cisco Talks Transformation

    1|20|15   |   13:02   |   (0) comments


    In December 2014, Steve Saunders sat down with Cisco VP of Products & Solutions Marketing Doug Webster at Light Reading's 2020 Vision executive summit in Reykjavik, Iceland. They spoke about Cisco's approach to network virtualization as well as how service providers can begin to monetize high-capacity networks through the end of the decade.
    Upcoming Live Events
    February 5, 2015, Washington, DC
    February 19, 2015, The Fairmont San Jose, San Jose, CA
    March 17, 2015, The Cable Center, Denver, CO
    April 14, 2015, The Westin Times Square, New York City, NY
    May 12, 2015, Grand Hyatt, Denver, CO
    May 13-14, 2015, The Westin Peachtree, Atlanta, GA
    June 8, 2015, Chicago, IL
    June 9-10, 2015, Chicago, IL
    June 9, 2015, Chicago, IL
    September 9-10, 2015, The Westin Galleria Dallas, Dallas, TX
    September 29-30, 2015, The Westin Grand Müchen, Munich, Germany
    November 11-12, 2015, The Westin Peachtree Plaza, Atlanta, GA
    December 1, 2015, The Westin Times Square, New York City
    December 2-3, 2015, The Westin Times Square, New York City
    Infographics
    Hot Topics
    Google Continues Gigabit Expansion
    Jason Meyers, Senior Editor, Gigabit Cities/IoT, 1/27/2015
    Cablevision's New WiFi Try – Freewheeling Enough?
    Mari Silbey, Independent Technology Editor, 1/26/2015
    Overture Builds on NFV Foundation
    Mitch Wagner, West Coast Bureau Chief, Light Reading, 1/27/2015
    LightSpeed Looks to Plug the Gigabit Gap
    Jason Meyers, Senior Editor, Gigabit Cities/IoT, 1/23/2015
    Parks Predicts HBO OTT Success
    Mari Silbey, Independent Technology Editor, 1/23/2015
    Like Us on Facebook
    Twitter Feed
    Webinar Archive
    BETWEEN THE CEOs - Weekly Executive Interview
    Join us live for Light Reading's interview with Jay Samit, the newly appointed CEO of publicly traded SeaChange International Inc. With a resume that includes Sony, EMI, Universal, Intel and Microsoft, Samit brings a reputation as an entrepreneur and a disruptor to his new role at the video solutions company. Hear what he has to say about the opportunities in video, as well as the outlook for cable, telco, OTT and mobile service providers.