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Ciena Soars on Q1 Surprise

Ciena Corp.'s share price gained more than 13 percent to $16.92 in pre-market trading Thursday morning as the optical equipment vendor reported better than expected financial results for the first quarter of its fiscal year. For the three months ending Jan. 31, Ciena reported revenues of US$453.1 million, 8.7 percent better than a year ago and slightly better than Wall Street had expected. The company's gross margin was 43.2 percent, compared with 40.3 percent a year ago. The surprise, though, was the company's earnings after one-time costs (also known as non-GAAP earnings), which came in at $12.3 million, or 12 cents per share, compared with a loss of $16.5 million (17 cents per share) in the same period a year ago. Financial analysts had been expecting a non-GAAP loss of 14 cents per share. While the results are better than expected, there's still room for caution. As this article was published, Ciena had not yet held its investor conference call to fully explain the numbers, so it's unclear yet whether this is a blip caused by a number of favorable metrics all coming together in a single quarter. The hope, of course, is that this is a sign of improving market conditions that might be reflected in the financial results of other system vendors. Ciena CEO Gary Smith is always bullish about the company's prospects and its potential to benefit from market dynamics that will drive demand for 100Gbit/s transport and packet/optical platforms: Maybe 2013 could be the year where he gets to say "I told you so." — Ray Le Maistre, International Managing Editor, Light Reading

I am Spartacus 5/13/2013 | 2:53:42 PM
re: Ciena Soars on Q1 Surprise So Yankee, are you one of the good ol' boys in Smith's millionaire club? You are either an insider making millions, or have no clue what you are talking about (or a robot just doing what your told). BTW, I am obviously not in the club. But I have witnessed the executive lunacy first-hand. They are concerned about themselves first, customers second (or third or fourth).
baznyankee 3/8/2013 | 6:10:11 PM
re: Ciena Soars on Q1 Surprise Your shoot from the lip style doesn't have much depth Spartacus.-á
Of what lunacy do you speak and are you speaking of stockholders being milked?-á
So you didn't witness this lunacy (you speak of)-áas a janitor?
I am Spartacus 3/8/2013 | 5:18:54 PM
re: Ciena Soars on Q1 Surprise No, I have witnessed their lunacy first hand. No sour grapes either, just amazement they have milked so many millions for so long.-á
baznyankee 3/8/2013 | 2:01:49 AM
re: Ciena Soars on Q1 Surprise Looks like another turd in the punchbowl.-á Smith must really get under a few skins.
TN61 3/7/2013 | 9:39:39 PM
re: Ciena Soars on Q1 Surprise Ciena has a habit of forcing sales for the current quarter to look like they had a great quarter. In reality the sales truly happen in the next quarter.-á Therefore the show the sales on the books on the current quarter look great. However,-áthe sales for the following quarter can drop out.-á So the real numbers are not so real.-á Ciena is ran by Sales men who truly do not know anything about the technology.-á Gary Smith surrounds himself with his flunky friends who will do whatever he wants including-áfudging numbers a bit-á.-á

When has Ciena ever sold a truly organic product? They buy small companies and use their IPs to sell something.-á I think the financial analysis should nevermaking current quarters look better than they are.-árelease a promising quarter for the stock to go up.-á Because those who have stock, will lose about 3 to 4 dollars a share following the real announcement.-á Ciena has been below 15 dollars a share since they bought Wild Wide Packets. The shares at that time we around 30 dollars a share and within 3 weeks in dropped to 10 dollars a share.-á
baznyankee 3/7/2013 | 5:10:36 PM
re: Ciena Soars on Q1 Surprise Whew Spartacus, sour grapes????
Weren't you that janitor they laid off last year?
I am Spartacus 3/7/2013 | 1:58:23 PM
re: Ciena Soars on Q1 Surprise Smith, Alexander and team will figure out a way to screw it up. Some of the most worthless millionaires in history.-á
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