CIENA reported quarterly revenues of $73.5 million, representing sequential growth of 4% from the prior fiscal quarter. On a GAAP basis, CIENA's reported net loss for the period was $75.5 million, or a net loss of $0.17 per share. Without special charges, the company's net loss in the quarter would be $0.10 per share. CIENA said that carriers continue to exercise extreme spending caution, perpetuating the challenging telecom equipment environment. Some highlights of the quarter:
- there were 65 customers in the quarter, including 7 new, unannounced customers. Three customers accounted for about 43% of total revenue in the quarter.
Domestic sales represented 68% of revenue
CIENA ended the quarter with $1.8 billion in cash, short- and long-term securities
Headcount at the end of the quarter was 2,005, a decrease of 56 since January
BT plans to deploy a full range of CIENA's LightWorks products. The contract represents a significant win for CIENA among large incumbent carriers.
CIENA is transforming itself from an optical equipment provider to a network solutions company. The acquisition of WaveSmith its expected to open up a $2 billion market opportunity for CIENA in ATM, Frame Relay and MPLS solutions. After the acquisition closes in mid-June, WaveSmith will be CIENA's data networking group.
CIENA's LightWorks Services initiative, announced last week, is the next step in CIENA's efforts to help carriers launch new services without completely rebuilding their network architectures.
Revenue for the current quarter is expected to be in a range of $65 to $75 million.
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