CIENA reported quarterly revenue of $75.6 million, representing a 1.2% sequential increase, and an increase of 10.4% for the same period a year ago. CIENA's reported net loss (GAAP) for the quarter was $141.5 million, or a net loss of $0.25 per share.
The company highlighted the product diversification strategy it launch a year ago, noting that these new market sectors represented more than 35% of its total revenue for the quarter. Some highlights for the quarter:
- completed the acquisitions and the operational integration of both Catena Networks and Internet Photonics
- gross margin was 24.9%, compared to 11.0% in the preceding quarter
- overachieving cost-reduction targets in the quarter by approximately $10 million.
- secured three new customers for the new CN 1000 next-generation broadband access platform and agreed to product trials with an RBOC.
- recognized initial revenue from Verizon for DN 7000 series multiservice edge switching deployments.
- ended the quarter with cash and short- and long-term investments valued at $1.36 billion.
