CIEN new 52 week high

CIEN new 52 week high

Company now playing around with the green agenda BS …..while I hold shares and have made nothing but money here selling puts, my gut tells me it’s time to hang up the long spurs! Black rock must have sent throttled down the old cash pipeline!

No way earnings makes a company go up 20% #smoke

Stock is all hyped up not so bright road ahead!

News: $CIEN Ciena Reports Fiscal Second Quarter 2019 Financial Results

Ciena ® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal second quarter ended April 30, 2019. Q2 Revenue : $865.0 million, increasing 18.5% year over year Q2 Net Income per Share...

Got this from https://marketwirenews.com/news-releases/ciena-reports-fiscal-second-quarter-2019-financial-results-8309644.html

Nice earnings today. In for some in the big portfolio.

3/9: Ciena maintained at BUY by Citigroup. And maintained at equal-weight by Morgan Stanley. (Dow Jones)

Ciena Corp (NYSE:CIEN) Tanks After Earnings, Watch This Level

Today, leading computer networking company, Ciena Corp (NYSE:CIEN), is tanking after reporting earnings. The stock is falling lower by nearly 5.0 percent to $20.24 a share. CIEN stock is now trading below its 50-day moving average, this puts the stock in a weak technical position. The monthly chart is now signaling further downside for the stock. Traders must now look at the $16.75 area as the next major chart support level. Very often, when a stock declines so sharply in a single trading day it will take time before it will be defended by the institutional money crowd. I will be keeping this stock on my watch list until the equity drops into this important support level.



Nicholas Santiago
InTheMoneyStocks

Benzinga's Top Upgrades, Downgrades For November 27, 2017
Lisa Levin , Benzinga Staff Writer

November 27, 2017 9:05am

Top Upgrades

Bank of America upgraded Ciena Corporation (CIEN 1.95%) from Neutral to Buy. Ciena shares gained 0.67 percent to close at $20.98 on Friday.
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CIEN

Insider James Moylan sold a few of his shares on 11/2.

Back in @ $21.15 following the fairly regular drop down. Hope it is the bottom. $21.13 is the lower BB.

CIEN

Sold at $22.30 for small profit. Been a long time and is bumping against the 50 DMA today when there is news and over-all market is up. Will re-enter.

CIEN

9/25 news: Still a BUY. Research firm Needham reiterated its BUY rating on the Company's stock with a a target price of $28 a share.

Back in CIEN @ $21.50.



CIEN

Short interest high, if numbers are good, this thing can pop. Worth the play into ER.

8/24/17 news: Price target $34 from Raymond James, up from $33.

CIEN ok team explanations here for the long clear voltaic in this space. Big smart money fills an coverings future footer intelegince.

CIEN buy option 24.385

buy 16 JUN 17 22 call for 2.88

just crossed above both ichimoku clouds









normal chart




log chart

IM IN CIEN FTW

CIEN valuation models imply big upside before earnings...

Valuation

Correction coming from the $23.70 high yesterday on barely than better earnings. Not sure why it was up 10% at one point.

This is a terrible company and stock. You should look at NPTN or INFN for better price appreciation.

I'm in, we should see a nice bounce Monday

$CIEN Ciena: The Risk/Reward Profile Is Attractive, Says William Blair http://www.smarteranalyst.com/2014/12/12/ciena-the-riskreward-profile-is-attractive-says-william-blair/

Ciena higher on vague M&A rumors

Aug 14 2014, 11:46 ET | About: Ciena Corporation (CIEN)

Ciena (CIEN +1.9%) is catching a bid following vague M&A chatter. The gains come even though Cisco just reported an 11% Y/Y drop in service provider orders for the July quarter, and stated it expects carrier demand to remain soft for several quarters.Ciena fell yesterday in response to JDS Uniphase's weak guidance and cautious CC commentary. Its FQ3 report is due on Sep. 4.
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Big Call Buyer Pings Ciena Corporation (CIEN)

You know how much we love BIG call buys in tech companies. Well there was just a very large one seen in China based Ciena Corporation (CIEN) this morning.

Just a little while ago we saw a trader buy 5,076 September $19 calls. Most of those were bought at the ask. This makes for a transaction value in the area of $584,000, not too shabby. Especially when you consider that CIEN stock price was weak at the time.

Ciena Corporation (CIEN) is currently trading at $18.92 down 29 cents, on slightly higher volume than average. CIEN has a 52 week high of $27.93, and a low of $18.00 on the year. It’s traded 1.8 million shares already this morning by. It’s average daily volume is just 2.5 million. It would appear some kind of news is coming with a big buy like this, or it could be earnings data leakage.

Ciena_logo CIENCiena Corporation (CIEN)announces quarterly earnings on September 2, so clearly this could be one of those high risk, high reward earnings plays. These calls are now 1.11 to 1.16, last traded at $1.15, down 9 cents on the day.

We like this trade given it’s size, the nature of the business. We’re inclined to dip our toes in this one and join the inside money on this.

Twenty three analysts currently follow Ciena Corporation (CIEN). The average rating on CIEN is a “OVERWEIGHT” and the average price target is $28.67. Cienna Corp is currently not profitable, with analysts expecting a 28 cent per share profit for this quarter, and an annual profit of 96 cents.

You don’t want to bet the farm on this one as earnings plays can go either way, but a small position would seem justified here. There’s now been almost 6,000 of the Sept 19 calls traded so clearly some others are jumping on this bandwagon.

- See more at: http://californiaexaminer.net/2014/08/13/big-call-buyer-pings-ciena-corporation-cien/#sthash.L7b3wA2u.dpuf
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Why A Short Covering Rally Might Come for Ciena (CIEN) Stock - Tale of the Tape

By Zacks.com, May 19, 2014, 09:36:15 AM EDT AAA

Many investors appear to be quite bearish on Ciena Corporation ( CIEN ) , especially if you look at the percentage of the float that is sold short for this stock. Currently, 21.51% of the float is sold short, suggesting an extreme level of bearishness for CIEN.

While investors might be piling up against this stock for any number of reasons, it is important to note that CIEN has seen some weakness as of late, as the security hasn't been able to get into positive territory over the past four weeks, losing 4.68% in the time frame.

Better Trading Ahead?

While the short interest and the recent performance are certainly troubling, there is reason to be optimistic on this stock. Recent earnings estimate activity has actually been quite positive as of late, even in the face of such widespread pessimism.

Thanks to these rising estimates, we actually have a Zacks Rank #2(Buy) on CIEN, so we clearly don't believe in the negativity surrounding this firm. After all, it is hard not to be at least a little optimistic on the short term when you consider that 1 estimate have moved higher in the past 60 days compared to none lower in the same time frame, while the consensus has also increased.

Given this, a short-covering rally is certainly in the cards for CIEN stock, especially if investors embrace the positive earnings estimate revision picture, suggesting that CIEN could definitely move higher in the weeks ahead.

Read more: http://www.nasdaq.com/article/why-a-short-covering-rally-might-come-for-ciena-cien-stock-tale-of-the-tape-cm354221#ixzz32BDc8rnK
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Ciena Given Average Recommendation of “Buy” by Brokerages

Posted by Wayne Rhoads on Apr 14th, 2014 // No Comments

Shares of Ciena (NASDAQ:CIEN) have received a consensus rating of “Buy” from the twenty-five ratings firms that are covering the stock, AnalystRatingsNetwork.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year pricetarget among brokerages that have issued ratings on the stock in the last year is $27.22.

In other Ciena news, Director Michael Rowny sold 8,571 shares of Ciena stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $23.46, for a total transaction of $201,075.66. Following the sale, the director now directly owns 54,743 shares in the company, valued at approximately $1,284,271. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

A number of research firms have recently commented on CIEN. Analysts at National Alliance Securities initiated coverage on shares of Ciena in a research note on Tuesday, April 8th. They set a “buy” rating and a $27.00 price target on the stock. Separately, analysts at RBC Capital downgraded shares of Ciena from an “outperform” rating to a “sector perform” rating in a research note on Friday, March 28th. They now have a $28.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Ciena in a research note on Wednesday, March 12th. They now have a $24.00 price target on the stock.

Shares of Ciena (NASDAQ:CIEN) opened at 19.41 on Monday. Ciena has a 52-week low of $14.14 and a 52-week high of $27.94. The stock has a 50-day moving average of $23.28 and a 200-day moving average of $23.56. The company’s market cap is $2.039 billion.

Ciena (NASDAQ:CIEN) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. The company had revenue of $533.70 million for the quarter, compared to the consensus estimate of $533.75 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts expect that Ciena will post $0.89 EPS for the current fiscal year.

Ciena Corporation (NASDAQ:CIEN) is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic.
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http://zolmax.com/investing/ciena-given-average-recommendation-of-buy-by-brokerages-nasdaqcien/245402/

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MARCH 13, 2014
BY GREG QUINN

Ciena Corporation Posts Solid Quarter, Tempered Outlook
Despite a slightly tempered outlook, Ciena surprised the Street in the fiscal first quarter of 2014 with earnings per share $0.07 above consensus and $0.05 above our expectations. The EPS upside would have been even higher had it not been for $0.05 dilution from foreign-currency hedges in the other income line. Revenue was roughly in line with the Street but was guided $6 million below the Street at the midpoint because of seasonality and a back-end-loaded first quarter.

Despite the near-term softness, with several new projects underway—management calling out AT&T (T $32.13; Market Perform) and CenturyLink (CTL $31.19) commencing metro deployments and Ericsson (ERIC $13.05) and Vodafone (VOD $41.09) all part of the setup—Ciena looks well positioned for double-digit growth in 2014 and beyond, in our view. We remain encouraged by the continuing market transformation, characterized by capacity expansion from 10G to 100G and architectural changes resulting from a shift to OTN switching and converged packet optical technology, all of which are occurring with Ciena’s largest customers. In our view, there appears to be a long tail to this multiyear transition, which should lead to more sustainable and profitable company performance throughout 2014 and 2015.

With the April investor day the next catalyst, an increase in our fiscal 2015 estimates, and a relatively attractive valuation (1.2 times our calendar 2015 revenue estimate and 19 times projected EPS), we would add aggressively on any weakness in the stock. Given the early stages of the optical cycle, we believe it is reasonable to apply an 18- to 20-times P/E multiple on fully loaded calendar 2015 operating assumptions (10% operating margin), which yields roughly 25% expansion from current levels. We reiterate our Outperform rating.

Cutting second-quarter EPS to $0.12 (from $0.25)—on lower gross margin and higher operating-expense guidance—erases a large EPS beat in the first quarter; revenue is trimmed to $557 million (from $569 million). Our fiscal 2014 revenue estimate is unchanged at $2,305 million, while our EPS estimate falls to $0.87 from $0.93. Our fiscal 2015 revenue estimate goes to $2,600 (as we roll in about $50 million of Ericsson opportunity, and expect to add more as actual sales begin); our EPS estimate rises to $1.28 from $1.23. We introduced calendar 2015 estimates of $2,685 million (growth of 13% year-over-year) and $1.31.

Verizon came in close to a 10%-customer mark, and was the largest 100G contributor in the quarter. AT&T improved to 18.8% this quarter (from 16.5% in the fourth) and together with Verizon represented slightly more than 28% of Ciena’s sales in the quarter. This, in our view, should ease concerns of 100G long-haul saturation with Verizon and uncertainty about the commencement of a 100G long-haul project at AT&T. Management says both Verizon and AT&T will be up in 2014: Verizon’s 100G long-haul to be partly supplanted by 5400 switching and packet networking throughout the year, while AT&T upgrades its metro with Ciena’s coherent packet-optical technology as part of Project VIP (about 10% of the backbone covered to date, according to our checks). Moreover, metro is a much larger opportunity than long-haul.
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http://www.mkobserver.com/ciena-corporation-posts-solid-quarter-tempered-outlook/172379/

Looks like a good time to get back in Ciena:



CIEN

CIEN:

Still a lot of room above; all indicators except SAR are positive and it flips today/tomorrow:



CIEN

Cramer enters Ciena today:

http://mimictrading.com/viewtopic.php?f=5&t=14

CIEN

Ciena marching back up after over-reaction to their earnings:



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Why Cisco Systems, Inc. (CSCO) Isn’t Pointing the Way Ahead for Ciena Corporation (CIEN)

by Motley Fool on December 17, 2013

Cisco Systems, Inc. (NASDAQ:CSCO) reported a weak set of results recently and gave even poorer guidance, so telco investors must have had a certain amount of trepidation over Ciena Corporation (NASDAQ:CIEN)’s earnings. In the end, Ciena’s recent fourth-quarter revenue topped analysts’ expectations, but missed on earnings. In addition, the guidance was slightly weaker than analysts expected. The market immediately sold the stock off. Does this mean the telco industry is set for another year of AT&T Inc. (NYSE:T) and Verizon Communications Inc. (NYSE:VZ) trying to ruthlessly cut back on expenditures? And is Ciena Corporation (NASDAQ:CIEN)’s status as the “go-to” play in telco under threat?

Ciena misses, but not by much
The “Cisco effect” was always going to hang over Ciena Corporation (NASDAQ:CIEN), but the market looks to have been a little harsh in marking Ciena down nearly 7% after the results. While revenue of $583.4 million was ahead of estimates, non-GAAP earnings per share of $0.16 was below analyst estimates of $0.24. Moreover, the midpoint of its first quarter revenue guidance of $515 million to $545 million was below analyst’s consensus of $537.7 million. Time to get nervous?

It’s not time to panic with Ciena
First, telco spending is notoriously lumpy, and in any case, the midpoint of first quarter guidance is only 0.7% lower than analyst estimates!
Second, Ciena Corporation (NASDAQ:CIEN) beat revenue estimates in the fourth quarter, because of “expected deployments on one of the large international network builds that we referred to last quarter,” according to its management. While this will obviously help revenue, it possibly hurt margins due to the razor/razor blade model that Ciena’s management referred to on the conference call. This kind of model tends to generate lower margins upfront, but larger ones as customers start buying more “razors.”
And finally, don’t read too much into the Cisco-Ciena analogy. Cisco Systems, Inc. (NASDAQ:CSCO) saw specific weakness in emerging market spending, and has a far greater exposure to older technology spending than Ciena does. In fact, Ciena’s great strength is its exposure to next-gen networking technologies like 40G and 100G Ethernet networking and Optical Transport Networks. So while Cisco Systems, Inc. (NASDAQ:CSCO) is exposed to overall telco capital expenditures, Ciena can prosper as long as telcos are spending in the areas where Ciena Corporation (NASDAQ:CIEN) is strongest. Indeed, this is why Ciena outperformed much of the sector in 2013.
AT&T, Verizon, and international carriers
The Cisco-Ciena analogy also breaks down when looking at the geographic mix of revenue. Starting with domestic revenue, analysts spent a fair amount of time on the conference call questioning Ciena’s management over the outlook for North America. Clearly, AT&T Inc. (NYSE:T) and nc. (NYSE:T) and Verizon Communications Inc. (NYSE:VZ) will loom large in the picture.Ciena’s management declared that it felt “very positive around what’s happening in North America”, and of the major carriers “said simply, we will do more business with them in 2014 than we did with them in 2013.”
Again, investors need to appreciate that telco spending is always lumpy. For example, Verizon’s $130 billion deal to buy Vodafone out of its wireless business in the US could cause Verizon to temporarily pause some spending in the near term, but it will also enable nc. (NYSE:T) and Verizon Communications Inc. (NYSE:VZ) to invest more in its wireless networks without having to share profits with Vodafone.

Moreover, Vodafone will get a lump of cash with which it can invest on upgrading its network. Indeed, Ciena has signed a “global supply partnership” with Vodafone, and also expects ” that they will become increasingly a larger customer for Ciena.” In other words, it could be a short-term negative but long-term positive outcome for Ciena Corporation (NASDAQ:CIEN).

In addition, AT&T Inc. (NYSE:T)’s spending is also somewhat contingent on how quickly its project VIP (a plan to 4G/LTE to 300 million points of presence, or POPs, by 2015) will progress. At the time of its recent results in October, AT&T looked to be well ahead of plan with 250 million POPs already achieved. It’s reasonable to expect spending to be tempered in accordance with where it is in the plan, but AT&T Inc. (NYSE:T) also announced that it was ” strengthening our financial structure and our balance sheet to give us the ability to invest and maintain financial flexibility”. Companies don’t do such things when they are inclined to slow long-term spending.

And finally, while Cisco Systems, Inc. (NASDAQ:CSCO) is seeing weakness in emerging markets, recall that Ciena is more exposed to newer technologies. Indeed, there is a “greenfield” opportunity in many emerging markets to roll out next generation networking rather than spend on maintaining existing networks. In contrast to Cisco Systems, Inc. (NASDAQ:CSCO), Ciena’s management declared itself “encouraged by markets like Brazil, and India, and Russia, and the Middle East.”

Where next for Ciena?
In conclusion, Ciena has good prospects going forward, but don’t expect its revenue and earnings not to be lumpy from quarter to quarter. Then again, you shouldn’t be buying medium-sized technology companies if you can’t handle volatility. As long as the global economy remains in growth mode, then Ciena has good prospects next year.

The article Why Cisco Isn’t Pointing the Way Ahead for Ciena originally appeared on Fool.com and is written by Lee Samaha.
Lee Samaha owns shares of Cisco Systems (NASDAQ:CSCO). The Motley Fool recommends Cisco Systems.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
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http://www.nextiphonenews.com/2013/12/why-cisco-systems-inc-csco-isnt-pointing-the-way-ahead-for-ciena-corporation-cien/

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After 5 rating changes the past two days here is the latest consensus:


Consensus Ratings for Ciena Corp. (NASDAQ:CIEN)
Ratings Breakdown: 2 Sell Rating(s), 8 Hold Rating(s), 16 Buy Rating(s)
Consensus Rating: Buy (Score: 2.54)
Consensus Price Target: $25.50 (19.66% upside)

http://www.analystratings.net/stocks/NASDAQ/CIEN/

CIEN

Ciena (CIEN_) was upgraded to outperform from market perform at BMO Capital Markets. $26 price target. Its strong order momentum and better-than-industry results will rev growth and margin expansion, said BMO.

(reported on 12-13-13)

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Ciena Isn't Done Yet

Dec 12 2013, 14:20 | 4 comments | about: CIEN

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. (More...)

Optical telecom equipment maker Ciena (CIEN) has pulled back, and it's time to consider buying the dip.

"Wait for a pullback" and "buy on a dip" are some of the most hackneyed pieces of investment advice out there, and there's often an important detail missing. While it often does make a great deal of sense to buy good stocks on a momentary setback, what investors are seldom reminded of is that buying on these occasions often requires a lot of fortitude. After all, there's usually some near-term reason why the shares are trading down and climbing aboard a stock just as it is careering off a cliff is an experience that sticks with you.

Ciena has certainly seen the pace of sales growth and margin improvements slacken, but I believe this will prove to be a pause that refreshes. There still seem to be long-term legs to the equipment/network upgrade cycle, and Ciena has reemerged as a share gainer in the space. Investors can't ignore the risk that 2014 sees sales growth slow after the double-digit growth in fiscal 2013, but the valuation here is appealing.

Beat-And-Lower Sours The Street

After a major rally during the summer and fall, Ciena shares had backed off about 20% as analysts started fretting that Verizon (VZ) was going to cut back spending on 100G deployments in the aftermath of its deal with Vodafone (VOD). There was also some buzz that signs of stability at Alcatel-Lucent (ALU) could strengthen that company's competitive positioning.

As it turns out, Ciena did in fact deliver the beat-and-lower quarter that some analysts had forecast. While revenue was up 25% yoy (and up 8% sequentially), investors were less interested in the 3% beat than in the roughly 2% shortfall in management's revenue guidance for the January quarter.

It's also worth noting that Ciena's margins were lower than forecast, but I have a bone to pick here with the Street. Adjusted gross margin did fall two points from last year and almost three points from last quarter (with product gross margin down a similar amount), and that was about 150bp below Street forecasts. Here's the thing that irks me - it was already known that Ciena had won some large converged packet optical deals, and those deals typically have low(er) gross margins on rollout and better margins down the line as customers add features and additional capacity. In any case, operating profits did fall more than one third from the prior quarter, with an operating margin of 5% for the quarter.

How Long Will Verizon/AT&T Hit The Pause Button?

Based on management's comments, it sounds as though both Verizon and AT&T (T) slowed their spending in this quarter. Between the announced deal between Verizon and Vodafone and the strong pace of order/sales growth over the past year, I can't say it's a huge surprise.

Now the question is how long it will take Verizon and AT&T to resume stronger orders. If Verizon is only pausing for reasons tied to the Vodafone transaction, I would expect orders to start improving in a couple of quarters. If it's more of a case of slowing overall deployments and reevaluating where they sit with respect to long-term plans, there is a risk that the spending delay could stretch into 2015.

It's true that Ciena is not just a Verizon/AT&T story. Ciena has over 40 100G customers, including companies like Comcast (CMCSA) and Reliance, and Ciena has been pushing hard to get more traction with Web 2.0 and cloud datacenter customers. Even so, it will be challenging for the stock to make a lot of headway if analysts and institutional investors are scared that the two biggest customers are curtailing their plans or entertaining alternatives from Huawei, Cisco (CSCO), Alcatel-Lucent, and/or Infinera (INFN).

Gaining Share And Standing Apart

Ciena runs second to Huawei in most markets where they compete, but Ciena has been shrinking the gap some in recent quarters. Huawei has started to get more rational on pricing, which has benefited Ciena. The company has also won deals from new customers (new to Ciena, that is) at the expense of Huawei and Alcatel-Lucent, apparently due both to a perception of better technology at Ciena and concerns about the long-term viability of Huawei and Alcatel-Lucent as suppliers (security risks for the former and balance sheet risks for the latter).

Ciena does have something to offer customers in its optical products. The company has stood apart with its control plane software, improved software and DSP capabilities, and better product integration. At the same time, while would-be rival Cisco works to integrate more optical transport capabilities into routers, Ciena has been taking advantage of the lower overall cost of optical systems. Elsewhere, Ciena has also been picking up meaningful share in the ultra-long-haul transport market, largely at the expense of Alcatel-Lucent, and rebuilding some of its share in ROADM.

The Bottom Line

The switch to 100G and general upgrade cycle in optical equipment isn't going to go on forever. There will certainly be some timing differences as Ciena customers upgrade at different rates, but this isn't likely to be a "buy and hold forever" stock. At the same time, I think it's premature to say that the upgrade cycle is over and that Ciena is now destined to go back into hibernation to await the next cycle.

I'm still looking for "high mid" single-digit long-term revenue growth, with a meaningful improvement in free cash flow margins as Ciena builds on those lower-margin initial deployments. Even with an elevated discount rate, that suggests a fair value in the neighborhood of $24.

Given that I feel my estimates are more likely to fall of the conservative side, I'm strongly considering buying this dip. Ciena is going to be a stock with above-average volatility, with reports, guidance, and commentary from the likes of Cisco, Juniper (JNPR), JDSU (JDSU), Infinera, and Finisar (FNSR) moving the shares between earnings. Even so, I think there's reasonable compensation for that volatility and I'd suggest taking a closer look at Ciena while the Street is turning away.
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http://seekingalpha.com/article/1895531-ciena-isnt-done-yet?source=email_rt_article_readmore_button

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Ciena Management Discusses Q4 2013 Results - Earnings Call Transcript

Dec 12 2013, 12:00 | about: CIEN

Ciena (CIEN) Q4 2013 Earnings Call December 12, 2013 8:30 AM ET

Operator

Welcome to the Ciena Corporation Fiscal Fourth Quarter 2013 and Year End Results Conference Call. My name is Loraine, and I will be your operator for today's call. [Operator Instructions] Please note that this conference is being recorded.

I would now like to turn the call over to Mr. Gregg Lampf. Mr. Lampf, you may begin.

Gregg M. Lampf - Vice President of Investor Relations
Thank you, Loraine. Good morning, and welcome to Ciena's Fourth Quarter 2013 Fiscal Year End Review. With me today is Gary Smith, CEO and President; Jim Moylan, CFO; and Tom Mock, Senior Vice President, Corporate Communications. This morning's press release is available on National Business Wire and ciena.com. We've also posted to the Investors section of ciena.com an accompanying investor presentation, including certain highlighted items from this quarter being discussed today, as well as our historical results. In a separate release this morning, we also announced the pending transfer of the listing of Ciena's common stock from NASDAQ to the New York Stock Exchange. We expect to begin trading on the New York Stock Exchange on December 23 under the current ticker "CIEN". We will continue to trade on NASDAQ until the transfer is complete.

In our prepared remarks today, Gary will discuss management's view on the year and the market, and Jim will offer some color on our results and provide guidance for Q1. We'll then open the call to questions from the sell-side analysts, taking one question per person with follow-ups as time allows.

Before turning the call over to Gary, I'll remind you that during this call, we will be making certain forward-looking statements. Such statements are based on current expectations, forecasts and assumptions regarding the company that include risks and uncertainties that could cause actual results to differ materially from the statements discussed today. These statements should be viewed in the context of the risk factors detailed in our most recent 10-Q filing. Our 10-K is required to be filed with the SEC by January 2, and we expect to file by that date. Ciena assumes no obligation to update the information discussed in this conference call whether as a result of new information, future events or otherwise.

Today's discussion includes certain adjusted or non-GAAP measures of Ciena's results of operations. A detailed reconciliation of these non-GAAP measures to our GAAP results is included in today's press release available on ciena.com. This call is being recorded and will be available for replay from the Investors section of our website. Gary?

Gary B. Smith - Chief Executive Officer, President and Director
Single page view page 1 / 4| Next »
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http://seekingalpha.com/article/1895121-ciena-management-discusses-q4-2013-results-earnings-call-transcript?source=email_rt_article_readmore_button

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Ciena loss shrinks but adjusted earnings miss view

Dec. 12, 2013, 8:11 a.m. EST
By Everdeen Mason

Ciena Corp.'s fiscal fourth-quarter loss narrowed as the telecom-equipment company's revenue grew faster than expected, but margin pressures kept the bottom-line improvements in check.

Shares fell 12% to $20.25 in premarket trading as adjusted earning fell short of Wall Street expectations. Through Wednesday's close, Ciena's stock is up 47% in the past 12 months.

Ciena's revenue has improved over the past year as the optical-communications equipment market shows signs of a recovery. But depreciation of equipment, furniture and fixtures; amortization of leasehold improvements; provisions for excess inventory and other items have weighed heavily on Ciena's bottom line.

Revenue increased 25% to $583.4 million in the latest quarter, beating the company's prior estimate of $550 million to $580 million. Meanwhile, its gross margin narrowed to 39.7% from 42.4% as input costs increased 29% to $351.7 million.

For the quarter ended Oct. 31, Ciena reported a loss of $9.8 million, or nine cents a share, versus a year-earlier loss of $38.8 million, or 39 cents a share. Excluding unusual items, Ciena recorded a profit of 16 cents a share, compared with a loss of seven cents a share last year.

Analysts polled by Thomson Reuters had most recently forecast earnings of 24 cents a share.

By segment, converged packet optical revenue jumped 47% to $350.9 million, while software and services revenue rose 9.6% to $118.7 million.

For the current quarter, Ciena expects revenue between $515 million and $545 million. Analysts expected revenue of $538 million.

The company also unveiled a pending stock transfer to the New York Stock Exchange from the Nasdaq, effective Dec. 23.
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CIEN

Ciena dives more than 10% after earnings miss • 7:31 AM

Ciena (CIEN) tumbles 11.5% premarket after a big miss on FQ4 results - reporting adjusted EPS of $0.16 per share vs. expectations of $0.24.

Adjusted gross margin of 40.8% compares to 43.6% the previous quarter. Adjusted operating margin of 4.7% falls from 8.2% the previous quarter. Operating expenses rose to $210.5M from $190.4M.
FQ1 revenue guidance of $515M-$545M is inline with Street expectations.

The company will swap its Nasdaq (NDAQ) listing for one on the NYSE (ICE). The stock symbol will remain the same.

FQ4 results, press release
CC at 8:30 ET
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CIEN

Buy Ciena Ahead Of Quarterly Earnings

Dec 9 2013, 12:32 | about: CIEN
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in CIEN over the next 72 hours. (More...)

Ciena (CIEN) rocketed higher in September after reporting a much narrower quarterly loss than in the previous year. Operating profits were up 8%, while revenue grew 14%. After failing to break above nearly $28, shares settled recently at around $22. What should investors do after Ciena reports earnings on December 12, 2013 before market open?

Ciena focused its strategy on embracing new architectures. Customers need converged solutions that involve professional services, software, and packet networking. Ciena is also becoming less of a pure play in optical networks. Infrastructures are requiring open and automated package optical infrastructure to converge with in Optical Transport Network (or "OTN"). The wider reach helped Ciena achieve strong revenue growth and operating profits. When Ciena reported Q3 results for the quarter ended July 31, 2013 in September, shares soared:

CIEN Chart

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Gross margin was 43.6% in Q3, while operating expenses were lower than expected, at $190M. When Ciena reports Q4 results, cash from operations could improve from the $42M earned last quarter. Many projects that were delayed will likely be included in the current quarter.

Q4 forecast

Ciena said in its conference call that revenue will be up to $580M, while gross margin will be in the low 40s. The decline will be due to larger builds from Tier 1 customers being counted in the quarter. Operating expenses are expected to be similar to Q3 in the $190M range.

A healthy geographical mix for revenue should confirm that revenue for Ciena is on a constant uptrend. Even if carriers take their time adopting Ciena's solutions, the firm is still in a good position to win contracts. Demand for faster, updated networks from carriers in North America will remain strong for many years. Backlog is growing, so if there is a revenue miss in Q4, investors should still expect sales to be regained in future quarters.

Margin pressure

Q4 will show a margin drop, but this should be expected. Ciena already warned that the large contracts will pressure profit margins in Q4. In addition, to win international projects, Ciena needs to provide discounts to customers. By sacrificing profit levels, Ciena wins in the longer term because its architectural solutions are being chosen.

Convergence

Ciena's convergence strategy should continue to help support growth. The converged packet optical architecture gives the company exposure to the positive momentum found in both packet networking and wireless networking markets.

Bottom line

Ciena is a focused player in packet and optical technology that investors are not appreciating. The selloff in Ciena shares over the last few quarters appear to be overdone. Investors are pricing higher costs as Ciena rolls out international projects. This will pressure profit margin in Q4. Still, momentum for 40G and 100G products from Ciena is growing. A ramp up in the volume of production will also help offset the impact of price declines, particularly for 100G. Nearly one-fifth of Ciena's market cap represents its cash balance, while expense increases are being outpaced by revenue growth. In particular, the rollout of 100G in North America should support many years of strong results from Ciena.
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http://seekingalpha.com/article/1886211-buy-ciena-ahead-of-quarterly-earnings?source=email_rt_article_readmore

CIEN

Cramer's Mad Money - 8 Earnings To Watch In The Week Ahead (12/6/13)

The Employment number was "just right" and sent the Dow up 199 points. Sectors that got hammered last week, including banks, industrials, housing-related stocks and consumer goods, came roaring back. Cramer discussed things to look for in the week ahead.

Thursday

Ciena (CIEN) has been taking market share from Cisco (CSCO) and is up 50%. Cramer thinks CIEN will go higher and give a strong earnings report
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http://seekingalpha.com/article/1883891-cramers-mad-money-8-earnings-to-watch-in-the-week-ahead-12-6-13

CIEN

Ciena, Alliance Fiber up in response to Finisar's results/guidance • 7:01 PM

Ciena (CIEN) +1.5% AH and Alliance Fiber (AFOP) +1.1% after Finisar beat FQ2 estimates and issued strong FQ3 guidance.

Ciena, which reports on the morning of Dec. 12, is now up 10% from Tuesday's close, thanks in large part to an FBR note predicting a strong report and arguing the company will benefit from a long-term trend towards shifting more network intelligence to the optical layer (as compared with the switching/routing layer).
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CIEN

Ciena Names Two New Customers

LIGHT READING
12/5/2013

HANOVER, Md. --

Ciena Corporation (NASDAQ: CIEN), the network specialist, today announced that Shenandoah Telecommunications Company ("Shentel") (NASDAQ: SHEN), a leading regional U.S. telecommunications service provider, has deployed Ciena’s packet networking, unified management and Service Level Agreements (SLA) portal solutions to support its expanding Fiber-to-the-Tower (FTTT) and mobile backhaul services. Working with Ciena, Shentel has built a highly reliable and automated backhaul infrastructure to support its mobile operator customers’ transition to 4G wireless infrastructure across Virginia, West Virginia, and Maryland.

Shentel provides a broad range of diversified communications services to end-user customers and other communications providers via its high speed, state-of-the-art network. Shentel is a Sprint PCS affiliate and offers 4G LTE service to portions of Pennsylvania, Maryland, Virginia and West Virginia. Shentel offers its business customers dedicated Ethernet Internet, Ethernet private line, Ethernet virtual private line, and tower collocation leasing. Shentel is leveraging Ciena’s 3930, 3931 and 3960 Service Delivery Switches – interconnected with G.8032 Ethernet rings to provide greater network scalability, resiliency and protection. Ciena’s OneControl Unified Management System provides Shentel with simplified low-touch service activation, which enables rapid service delivery, comprehensive service visualization and network diagnostics. This also gives Shentel and its customers the ability to monitor real-time network traffic and identify potential issues before they impact service delivery.

Ciena also announced that South African telecommunications operator BitCo selected Ciena to upgrade its network to provide high-performance, cost-effective and scalable carrier-class Ethernet managed bandwidth services for enterprise and wholesale mobile backhaul connectivity. Ciena worked with its BizConnect partner Adcomtec to provide BitCo a highly-reliable packet network architecture that supports the rapid turn-up of new services and predictable service delivery, using Ciena’s 3940 and 3920 Service Delivery Switches.

BitCo is a licensed telecommunications operator providing a one-stop connectivity solution that can be easily tailored to meet the requirements of local and regional enterprises, including PBX solutions, voice termination services and Carrier Ethernet based connectivity, as well as wholesale mobile backhaul services. Ciena’s MEF-certified packet networking solutions have been deployed in the Rustenburg and Bloemfontein regions and will also support other metropolitan areas, including Gauteng, Durban, Cape Town and Nelspruit.

Ciena Corp. (Nasdaq: CIEN)
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http://www.lightreading.com/ethernet-ip/ethernet-equipment/ciena-names-two-new-customers/d/d-id/706863?f_src=lightreading_editorspicks_rss_latest

CIEN

Reliance Globalcom Upgrades Trans-Atlantic Submarine Network with Ciena's GeoMesh

FA-1 North cable supports high-speed, low latency 100GbE and OTN client services along New York to London corridor

December 05, 2013 09:00 AM Eastern Standard Time

MUMBAI, India & HANOVER, Md.--(BUSINESS WIRE)--Reliance Globalcom, a leading global provider of managed network and communication services for multinational enterprises and carriers, and Ciena® Corporation (NASDAQ: CIEN), the network specialist, have upgraded Reliance Globalcom’s FA-1 North submarine cable system with 100G wavelengths. With Ciena’s converged packet optical and GeoMesh solutions, Reliance Globalcom can now deliver high-speed, low latency OTN and 100GbE client services between London and New York with greater capacity to meet soaring bandwidth demand. With an initial total lit capacity of 400Gbs, this upgrade compliments Reliance Globalcom’s deployment of Ciena’s GeoMesh technology on its FA-1 South submarine network that links New York to Paris, allowing the provider to offer additional capacity on two diverse routes across the Atlantic.

Key Facts:

Reliance Globalcom owns and operates one of the world’s largest and most advanced private submarine networks spanning more than 73,000 kilometers. When combined with more than 200,000 kilometers of domestic fiber owned by its parent company, Reliance Communications, the global network connects more than 40 key business markets across India, the Middle East, Asia, Europe, and the United States.

With Ciena’s GeoMesh solution, built on its market-leading 6500 Packet-Optical Platform powered by WaveLogic coherent optical processors, Reliance Globalcom can now support trans-Atlantic OTN-based client services from 10Gb/s to 100Gb/s across its FA-1 North network link. Additionally, under Reliance Globalcom’s recently launched Optical Wave Service, 100GbE/OTU-4 services can also be provided between continental points of presence (PoPs) in London and New York, where large Internet, financial and data center hubs reside.

This deployment is based on Ciena’s OPn architecture approach for creating programmable network infrastructures that deliver much lower cost-at-scale and allow network operators to better monetize their networks. Ciena’s GeoMesh features a simplified all-optical design that brings flexibility to Reliance Globalcom’s submarine network architecture.

Additionally, this network leverages the programmability of Ciena’s WaveLogic technology to meet differentiated service and latency requirements, carrying traditional SDH/DWDM as well as OTN-based applications over the same platform.

Ciena’s OneControl Unified Management System is also providing Reliance Globalcom with multi-layer service management capabilities to enable streamlined service activation, fault management and performance monitoring. Ciena is also providing installation, consulting, test and turn-up services via its Specialist Services portfolio.

Executive Comments:

“Growing requirements for access speed in broadband Internet, the digitalization of information, and cloud-based applications continue to drive the need for bandwidth demand. By making strategic upgrades with market-leading technologies such as those provided by Ciena, we are ensuring that we meet this demand in a highly-efficient and cost-effective manner, while providing a superior service experience to our customers. This deployment further builds upon a long-standing relationship with Ciena to support Reliance Globalcom’s strategic capacity upgrades on its submarine network.”

- Punit Garg, President and CEO, Reliance Globalcom
“Reliance Globalcom has experienced first-hand the operational and cost efficiencies of using our GeoMesh solution that allows network operators to view their submarine and terrestrial networks as a single end-to-end optical network from PoP-to-PoP, with wet and dry fiber in between, which yields significant capital and operational benefits. As Reliance Globalcom continues to modernize its network to meet customers’ increasingly intensive bandwidth requirements, our solutions will deliver the capacity, scale and reach to support them.”

- Ryan Perera, Country Head for India, Ciena
Technology Leadership:

Ciena's latest generation of WaveLogic coherent optical processors allow network operators to maximize reach, capacity, flexibility, and reliability of their submarine networks with an operational focus on ease-of-deployment, cost efficiency, and protection of network investments. WaveLogic leverages industry-leading optical networking technology advancements that together offer network operators several key benefits, over and above simply moving to 100G line rates.

Ciena is the pioneer and market leader of coherent optical technology with 30,000 coherent 40G/100G line interfaces shipped to over 150 customers across the globe, with more than 31 million coherent kilometers deployed.

Ciena’s converged packet optical platforms with WaveLogic coherent optical technology give service providers significant bandwidth scalability, reliability and network intelligence – all key building blocks of an OPn network architecture.

Supporting Resources:

Application Note: Enabling a Bigger and Smarter Network with WaveLogic 3
Product Page: 6500 Packet-Optical Platform
White Paper: GeoMesh Integrated Test Set Capabilities
Video: Take-10 GeoMesh Overview
White Paper: GeoMesh: Uniting Submarine and Terrestrial Networks
About Reliance Communications

Reliance Communications Limited founded by the late Shri Dhirubhai H Ambani (1932-2002) is the flagship company of the Reliance Group. The Reliance Group currently has a net worth in excess of Rs. 90,000 crore (US$ 17.7 billion), cash flows of Rs. 8,000 crore (US$ 1.6 billion), net profit of Rs. 3,200 crore (US$ 0.6 billion).

Reliance Communications is India's foremost and truly integrated telecommunications service provider. The Company, with a customer base of about 130 million including over 2.5 million individual overseas retail customers, ranks among the Top 6 Telecom companies in the world by number of customers in a single country. Reliance Communications corporate clientele includes over 35,000 Indian and multinational corporations including small and medium enterprises and over 800 global, regional and domestic carriers.

Reliance Communications has established a pan-India, next generation, integrated (wireless and wireline), convergent (voice, data and video) digital network that is capable of supporting best-of-class services spanning the entire communications value chain, covering over 24,000 towns and 600,000 villages. Reliance Communications owns and operates the world's largest next generation IP enabled connectivity infrastructure, comprising over 277,000 kilometers of fibre optic cable systems in India, USA, Europe, Middle East and the Asia Pacific region.

To find out more, please visit www.relianceglobalcom.com

About Ciena

Ciena is the network specialist. We collaborate with customers worldwide to unlock the strategic potential of their networks and fundamentally change the way they perform and compete. Ciena leverages its deep expertise in packet and optical networking and distributed software automation to deliver solutions in alignment with OPn, its approach for building open next-generation networks. We enable a high-scale, programmable infrastructure that can be controlled and adapted by network-level applications, and provide open interfaces to coordinate computing, storage and network resources in a unified, virtualized environment. For updates on Ciena news, follow us on Twitter @Ciena or on LinkedIn http://www.linkedin.com/company/ciena. Investors are encouraged to review the Investors section of our website at www.ciena.com/investors, where we routinely post press releases, SEC filings, recent news, financial results, and other announcements. From time to time we exclusively post material information to this website along with other disclosure channels that we use.

Note to Ciena Investors

Forward-looking statements. This press release contains certain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties. These statements are based on information available to the Company as of the date hereof; and Ciena's actual results could differ materially from those stated or implied, due to risks and uncertainties associated with its business, which include the risk factors disclosed in its Report on Form 10-Q, which Ciena filed with the Securities and Exchange Commission on September 11, 2013. Forward-looking statements include statements regarding Ciena's expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words. Ciena assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

Contacts
Press Contacts:
Ciena Corporation
Jamie Moody, +1 214-995-8035
jmoody@ciena.com
or
Reliance Communications Limited
Rajeev Narayan, +91 9310414119
Rajeev.Narayan@relianceada.com
or
Investor Contact:
Ciena Corporation
Gregg Lampf, +1 877-243-6273
ir@ciena.com
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http://www.businesswire.com/news/home/20131205005647/en/Reliance-Globalcom-Upgrades-Trans-Atlantic-Submarine-Network-Cienas

CIEN

Seeking Alpha via dynect-mailer.net
3:00 PM (14 minutes ago)

Ciena rallies on bullish FBR note, peers/suppliers also up • 2:59 PM

FBR's Scott Thompson thinks Ciena (CIEN +7%) will deliver a beat-and-raise FQ4 report on Dec. 12, and sees the telecom equipment vendor benefiting from carrier adoption of network architectures that feature "more intelligence and flexibility at the optical layer."

Thompson sees carriers building more advanced metro optical networks, replete with data centers that enable services such as content caching, app hosting, and advanced mobile messaging. He points to a recent optical switching deal between Verizon and Ciena as an example of how the latter benefits from this trend, and sees a similar deal with AT&T arriving soon.

At the same time, he cautions optical gross margins "could be under pressure," thanks to aggressive pricing from Infinera (INFN +2%), lengthy deployment times, and the adoption of software-defined networking controllers (CYNI is among the companies providing them) that remove some intelligence from the optical layer.

Ciena flew higher three months ago following its FQ3 report. The company reported solid demand for its integrated Ethernet switching/optical networking hardware, which now accounts for 56% of revenue.

Infinera is following Ciena higher, and so are Finisar (FNSR +5.2%), JDS Uniphase (JDSU +3.1%), Fabrinet (FN +1.8%), and AppliedMicro (AMCC +3.9%).
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CIEN

Seeking Alpha via dynect-mailer.net
3:00 PM (14 minutes ago)

Ciena rallies on bullish FBR note, peers/suppliers also up • 2:59 PM

FBR's Scott Thompson thinks Ciena (CIEN +7%) will deliver a beat-and-raise FQ4 report on Dec. 12, and sees the telecom equipment vendor benefiting from carrier adoption of network architectures that feature "more intelligence and flexibility at the optical layer."

Thompson sees carriers building more advanced metro optical networks, replete with data centers that enable services such as content caching, app hosting, and advanced mobile messaging. He points to a recent optical switching deal between Verizon and Ciena as an example of how the latter benefits from this trend, and sees a similar deal with AT&T arriving soon.

At the same time, he cautions optical gross margins "could be under pressure," thanks to aggressive pricing from Infinera (INFN +2%), lengthy deployment times, and the adoption of software-defined networking controllers (CYNI is among the companies providing them) that remove some intelligence from the optical layer.

Ciena flew higher three months ago following its FQ3 report. The company reported solid demand for its integrated Ethernet switching/optical networking hardware, which now accounts for 56% of revenue.

Infinera is following Ciena higher, and so are Finisar (FNSR +5.2%), JDS Uniphase (JDSU +3.1%), Fabrinet (FN +1.8%), and AppliedMicro (AMCC +3.9%).
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CIEN

Found the news, this morning FBR rates as Outperform with target of $30.00.

CIEN