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Ciena Beats Fiscal Q3 Expectations

While reporting a one-cent per share loss, the company managed to substantially beat Wall Street estimates on earnings and revenues.

September 4, 2013

1 Min Read

HANOVER, Md. -- Ciena Corporation today announced unaudited financial results for its fiscal third quarter ended July 31, 2013. For the fiscal third quarter 2013, Ciena reported revenue of $538.4 million.

On the basis of generally accepted accounting principles (GAAP), Ciena's net loss for the fiscal third quarter 2013 was $(1.2) million, or $(0.01) per common share, which compares to a GAAP net loss of $(29.8) million, or $(0.30) per common share, for the fiscal third quarter 2012. Ciena's adjusted (non-GAAP) net income for the fiscal third quarter 2013 was $26.2 million, or $0.23 per common share, which compares to an adjusted (non-GAAP) net loss of $(4.1) million, or $(0.04)per common share, for the fiscal third quarter 2012.

"Differentiated by our specialist strategy, we have increased our market share, achieved steady growth, and delivered improved and more consistent financial performance over the last several quarters," said Gary Smith, president and CEO. "We believe that by expanding our role in the industry and extending our reach within our markets, we will be positioned to deliver greater profitability that is more sustainable over time."

Ciena Corp. (NYSE: CIEN)

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