Light Reading
Fiscal Q1 net loss of $47.7M is better than a year ago, while CEO Gary Smith points to signs of underlying strength

Ciena Posts Slimmer Q1 Loss

Ray Le Maistre
3/7/2012
50%
50%

Having already warned investors of recent weaknesses in revenue recognition, Ciena Corp. (NYSE: CIEN) met its lowered fiscal first-quarter sales target Wednesday by reporting revenues of US$416.7 million for the three months to the end of January 2012, only slightly below average financial analyst expectations. (See Is Ciena's Miss a Cause for Panic? and Ciena Lowers Q1 Guidance.)

It also announced a net loss for the period of $47.7 million or 49 cents per share, though this is at least an improvement compared with the year-ago quarter. (See Ciena Posts Fiscal Q1 Loss of $47.7M.)

Its losses after one-time costs (adjusted, or non-GAAP loss) amounted to $16.5 million, or 17 cents per share, worse than the adjusted loss of 5 cents per share that analysts had anticipated.

But net losses and revenues warnings are not enough to dampen the spirits of Ciena CEO and Light Reading Hall of Famer Gary Smith. (See Light Reading's Hall of Fame: 2011 Inductees.)

"Our first quarter revenue does not reflect the underlying strength of the business and ongoing customer demand," stated Smith in the earnings release issued early Wednesday. "We expect sequential revenue growth in the fiscal second quarter, and we anticipate that our operating results for the second half of fiscal 2012 will be stronger than the first half."

In fact, Ciena expects fiscal second-quarter revenues to be in the range of $435 million to $460 million, while adjusted gross margins (after one-time costs) are expected to be in the low 40s, so not much different to the 41.9 percent reported for the fiscal first quarter.

This appeared to be enough to appease investors (at least while they supped their morning coffees), as Ciena's share price leaped by 7.8 percent, to $14.49, in pre-market trading Wednesday morning.

Ciena, of course, is just one of a number of vendors battling for attention at this week's OFC/NFOEC 2012 in Los Angeles, where the company is showing off its new WaveLogic 3 chip. (See Ciena Pushes Ahead to 400G.)

Get all the news from that event at our OFC/NFOEC Show Site.

— Ray Le Maistre, International Managing Editor, Light Reading

(1)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View
ninjaturtle
50%
50%
ninjaturtle,
User Rank: Light Sabre
12/5/2012 | 5:40:17 PM
re: Ciena Posts Slimmer Q1 Loss


Will CIEN ever be profitable again. Isn't this one of the established Tier 1 suppliers along with ALU and perennial quarter loss leader? Move over a new player will show u both the way.

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 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 Graham Finnie from Heavy Reading about some of 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.
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.
LRTV Interviews
Bob Wilson, Arsenal Legend: The Light Reading Interview

1|16|15   |   35:36   |   (3) comments


Arsenal goalkeeping legend Bob Wilson was Light Reading's guest interviewee at the 2020 Vision Executive Summit in December. See what the former soccer star and sports broadcaster had to say when he took to the stage in Iceland.
LRTV Custom TV
What MEF Third Network Initiative Means for SDN & NFV

1|14|15   |   6:13   |   (0) comments


Vitesse Semiconductor CTO Martin Nuss discusses the importance of the MEF Third Network initiative and why it's good news for SDN/NFV industry initiatives.
LRTV Huawei Video Resource Center
Frank Miller: Distributed Solutions are the Best Build for the Future - Part II

1|9|15   |   2:46   |   (0) comments


At SCTE, Frank Miller, Global CTO of MSO at Huawei, speaks about Cable 2.0 and its innovative future.
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 9-10, 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
Cuomo Unveils Broadband Aid Program
Alan Breznick, Cable/Video Practice Leader, 1/19/2015
BlackBerry Wants Net Neutrality Protection -- That's Just Sad
Mitch Wagner, West Coast Bureau Chief, Light Reading, 1/22/2015
FiOS Picks Up Pace Again
Alan Breznick, Cable/Video Practice Leader, 1/22/2015
Verizon Ready for Google MVNO Challenge
Dan Jones, Mobile Editor, 1/22/2015
Indiana Carrier Takes Fiber to the Farm
Jason Meyers, Senior Editor, Gigabit Cities/IoT, 1/22/2015
Like Us on Facebook
Twitter Feed
Webinar Archive