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Ciena Meets Revenue Estimates, Reports Q4 Loss

HANOVER, Md.-- Ciena Corporation (NYSE: CIEN), the network specialist, today announced unaudited financial results for its fiscal fourth quarter and year ended October 31, 2014.

For the fiscal fourth quarter 2014, Ciena reported revenue of $591.0 million as compared to $583.4 million for the fiscal fourth quarter 2013. For fiscal year 2014, Ciena reported revenue of $2.3 billion, as compared to $2.1 billion for fiscal year 2013.

On the basis of generally accepted accounting principles (GAAP), Ciena's net loss for the fiscal fourth quarter 2014 was $(30.7) million, or $(0.29) per diluted common share, which compares to a GAAP net loss of $(9.8) million, or $(0.09) per diluted common share, for the fiscal fourth quarter 2013. For fiscal year 2014, Ciena had a GAAP net loss of $(40.6) million, or $(0.38) per diluted common share, which compares to a GAAP net loss of $(85.4) million or $(0.83) per diluted common share for fiscal year 2013.

Ciena's adjusted (non-GAAP) net loss for the fiscal fourth quarter 2014 was $(8.2) million, or $(0.08) per diluted common share, which compares to an adjusted (non-GAAP) net income of $18.3 million, or $0.16 per diluted common share, for the fiscal fourth quarter 2013. For fiscal year 2014, Ciena's adjusted (non-GAAP) net income was $65.8 million, or $0.59 per diluted common share, as compared to an adjusted (non-GAAP) net income of $59.0 million, or $0.54 per diluted common share for fiscal year 2013.

“We delivered strong revenue growth and improved profitability in fiscal 2014 as we benefited from a more diversified customer base and the strong alignment of our solutions with the increasing on-demand needs of our customers,” said Gary B. Smith, president and CEO of Ciena. “As we continue to expand Ciena’s role and reach, we are well positioned to drive continued growth and increased profitability in 2015.”

Ciena Corp. (NYSE: CIEN)

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