Ciena Warns of Lower than Expected Revenue

CIENA expects to report revenue of approximately $75 million for its third fiscal quarter ending 31-July-2004, representing slight sequential revenue growth and year-over-year revenue growth of approximately 9% percent. The company stated previously that it anticipated revenue growth of up to as much as 30% from fiscal second quarter revenue of $74.7 million.



CIENA attributed the slower than expected sales to an ongoing environment of uncertainty resulting in cautious spending and deployment delays by its large service provider customers, including a deceleration of DSL-related orders in North America.



Due in part to its ongoing, company-wide cost-reduction efforts, CIENA anticipates lower-than-expected research and development, sales and marketing and general and administrative expenses for the period. CIENA expects its loss per share (GAAP) for the fiscal third quarter will be reported in a range of $0.24 to $0.26. http://www.ciena.com