Ciena Corp (CIEN)

[chmcnfunds]

Ciena Reports Fiscal First Quarter 2013 Financial Results

Increases revenue 9% year-over-year; Achieves 6% as-adjusted operating profit

HANOVER, Md.--(BUSINESS WIRE)--Ciena® Corporation (NASDAQ: CIEN), the network specialist, today announced unaudited financial results for its fiscal first quarter ended January 31, 2013.

“We have positioned Ciena to take advantage of the underlying market dynamics, which are increasingly aligned with our strategy and competitive strengths.”
For the fiscal first quarter 2013, Ciena reported revenue of $453.1 million.

On the basis of generally accepted accounting principles (GAAP), Ciena's net loss for the fiscal first quarter 2013 was $(47.3) million, or $(0.47) per common share, which compares to a GAAP net loss of $(47.7) million, or $(0.49) per common share, for the fiscal first quarter 2012.

Ciena's adjusted (non-GAAP) net income for the fiscal first quarter 2013 was $12.3 million, or $0.12 per common share, which compares to an adjusted (non-GAAP) net loss of $(16.5) million, or $(0.17) per common share, for the fiscal first quarter 2012.

“Our strong first quarter performance reflects a solid start to our fiscal year,” said Gary Smith, president and CEO of (Ciena. “We have positioned Ciena to take advantage of the underlying market dynamics, which are increasclickingly aligned with our strategy and competitive strengths. We believe the combination of our technology and market share leadership as well as our strategic customer relationships will enable us to continue growing faster than the market.”

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http://www.businesswire.com/news/home/20130307005229/en/Ciena-Reports-Fiscal-Quarter-2013-Financial-Results

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