The vendor reported a profit of $0.25 a share on revenue of $949.2 million in the quarter ended April 30.
June 2, 2022
HANOVER, Md. – Ciena Corporation, a networking systems, services and software company, today announced unaudited financial results for its fiscal second quarter ended April 30, 2022.
Q2 Revenue: $949.2 million
Q2 Net Income per Share: $0.25 GAAP; $0.50 adjusted (non-GAAP)
Share Repurchases: Repurchased approximately 1.5 million shares of common stock for an aggregate price of $87.0 million, and received 0.9 million shares of common stock pursuant to the final settlement of the Accelerated Share Repurchase program, during the quarter.
One 10%-plus customer represented a total of 11.0% of revenue
Cash and investments totaled $1.6 billion
Cash flow from operations totaled $105.8 million
Headcount totaled 7,536
"Our strong execution in the fiscal second quarter enabled us to deliver 14% year-over-year revenue growth despite an increasingly challenging supply environment," said Gary Smith, president and CEO of Ciena.
"We also saw continued strength in order flow and backlog growth in the quarter, reflecting the durability of longer-term secular demand drivers. At a time when industry-wide supply chain constraints are resulting in increased uncertainty and a wider range of potential outcomes in the coming quarters, our near-term financial performance is entirely a function of component availability – not the strong underlying demand in our business."
For the fiscal second quarter 2022, Ciena reported revenue of $949.2 million as compared to $833.9 million for the fiscal second quarter 2021.
Ciena's GAAP net income for the fiscal second quarter 2022 was $38.9 million, or $0.25 per diluted common share, which compares to a GAAP net income of $103.1 million, or $0.66 per diluted common share, for the fiscal second quarter 2021.
Ciena's GAAP net income for the fiscal second quarter of 2021 benefited from recording $40.4 million in pre-tax amounts from the Canadian Emergency Wage Subsidy program, which expired in October 2021.
Ciena's adjusted (non-GAAP) net income for the fiscal second quarter 2022 was $76.4 million, or $0.50 per diluted common share, which compares to an adjusted (non-GAAP) net income of $97.6 million, or $0.62 per diluted common share, for the fiscal second quarter 2021.
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