Ciena Corp (CIEN)

[chmcnfunds]

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