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Ciena Dips as Losses Widen

Things don't look to be getting much better for embattled vendor Ciena Corp. (Nasdaq: CIEN). This morning it announced a second quarter loss of $141.5 million, or 25 cents per share, on revenues of $75.6 million (see Ciena Reports Q3 Numbers).

The news sent the firm's share price down by 9 cents, nearly 5 percent, to $1.85 in pre-market trading.

The revenues were in line with the vendor's revised forecast given at the beginning of August, but that was way off its original forecast of around $97 million (see Ciena Warns of Revenue Miss). That revised forecast led to renewed criticism of the company's management, which is still adamant that it has adopted the most suitable strategy (see Ciena's Ugly Day).

— Ray Le Maistre, International News Editor, Light Reading

materialgirl 12/5/2012 | 1:21:19 AM
re: Ciena Dips as Losses Widen This is what happens when bad management gets to play Doctor with shareholder money. They like to fly around and feel important, but they are just playing pretend. They are not doing what they should be doing, in creating shareholder value.

The failing of our system is that we cannot get rid of these bad actors faster, and force a big dividend. Only a masochist would own these shares.
paolo.franzoi 12/5/2012 | 1:21:16 AM
re: Ciena Dips as Losses Widen
Where has all the revenue gone,
A long, long time ago

---------------------------------

I think Gary Smith probably was a Peerson's Puppeteer in a future life (see Ringworld by Larry Niven). The leader of this group was called "The Hindmost" or "He who leads from behind".

seven
zillionaire 12/5/2012 | 1:21:12 AM
re: Ciena Dips as Losses Widen "Doing nothing would have been even crazier"....

...ancient profecy coming true
hiflier 12/5/2012 | 1:21:11 AM
re: Ciena Dips as Losses Widen Doing nothing is exactly waht the board has been doing while Gary gets his ego stroked and his wallet fattened.

They should all be shot....
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