Ciena Reports Fiscal Q1 Revenues Rise
HANOVER, Md.-- Ciena Corporation (CIEN), the network specialist, today announced unaudited financial results for its fiscal first quarter ended January 31, 2014.
For the fiscal first quarter 2014, Ciena reported revenue of $533.7 million as compared to $453.1 million for the fiscal first quarter 2013.
On the basis of generally accepted accounting principles (GAAP), Ciena’s net loss for the fiscal first quarter 2014 was $(15.9) million, or $(0.15) per common share, which compares to a GAAP net loss of $(47.3) million, or $(0.47) per common share, for the fiscal first quarter 2013.
Ciena’s adjusted (non-GAAP) net income for the fiscal first quarter 2014 was $13.7 million, or $0.13 per diluted common share, which compares to an adjusted (non-GAAP) net income of $12.3 million, or $0.12 per diluted common share, for the fiscal first quarter 2013.
“Solid execution in our fiscal first quarter, including 18% year-on-year revenue growth and 6% adjusted operating margin, demonstrates our continued momentum, reinforces our market leadership, and positions us well for the long-term opportunity ahead,” said Gary B. Smith, president and CEO, Ciena. “We continue to benefit from the strategic decisions we’ve made to expand our role and reach in the market, driving more consistent performance and progress toward achieving our long-term operating targets.”
Ciena Corp. (NYSE: CIEN)