CIENA Earnings Cheat Sheet: Double Digit Revenue Growth Yields Cheers
CIENA Corporation (NASDAQ:CIEN) reported its results for the second quarter. Ciena 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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CIENA Corporation Earnings Cheat Sheet
Results: Loss narrowed to $27.8 million (loss of 28 cents per diluted share) from $62.7 million (loss of 66 cents per share) in the same quarter a year earlier.
Revenue: Rose 14.3% to $477.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: CIENA Corporation reported an adjusted net loss of 24 cents per share. By that measure, the company fell short of the mean analyst estimate of a loss of 14 cents per share. It beat the average revenue estimate of $447.4 million.
Quoting Management: “Our second quarter was highlighted by strong revenue growth and positive overall operating performance, which demonstrated our ability to deliver operating leverage,” said Gary Smith, president and CEO of Ciena. “We remain confident that we are well positioned for future growth and continue to expect our second half operating results to be stronger than the first half.”
The company has now fallen short of analyst estimates for the last three quarters. It missed the mark by 9 cents in the first quarter and by 2 cents in the fourth quarter of the last fiscal year.
After dropping in the quarter before, revenue increased last quarter. Revenue fell 3.8% to $416.7 million in the first quarter from the year earlier.
For the fiscal year, the average estimate has moved from a loss of 9 cents a share to a loss of 25 cents over the last ninety days.
Competitors to Watch: Tellabs, Inc., Alcatel-Lucent, Cisco Systems, Inc., ADTRAN, Inc., Sycamore Networks, Inc., Telefonaktiebolaget LM Ericsson, Orckit Communications Ltd, Juniper Networks, Inc., Infinera Corp., and JDS Uniphase Corporation.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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