Ciena reported revenue of $971.0 million for its fiscal fourth quarter ended October 29, 2022, as compared to $1.04 billion for the fiscal fourth quarter 2021. Ciena's GAAP net income for the fiscal fourth quarter 2022 was $57.6 million, or $0.39 per diluted common share, which compares to a GAAP net income of $103.5 million, or $0.66 per diluted common share, for the fiscal fourth quarter 2021.
For fiscal year 2022, Ciena reported revenue of $3.63 billion, as compared to $3.62 billion for fiscal year 2021.
"Our strong fiscal fourth quarter financial results were better than expected as we benefited from some favorable supply chain developments in the second half of the quarter," said Gary Smith, president and CEO of Ciena. "Looking ahead, we expect to deliver outsized revenue growth in fiscal 2023 given our significant backlog and continued signs of gradual supply improvement. And, we remain confident that the durability of secular demand drivers and our strategic investments to expand our addressable market position us to deliver strong revenue growth over the next several years."
Some highlights:
- Non-telco represented 38% of total revenue in fiscal Q4 2022
- Routing and Switching revenue increased 39% YoY in fiscal Q4 2022, reflecting strong contribution from the recently acquired Vyatta platform and organic portfolio enhancements
- Platform Software and Services increased 8% YoY in fiscal Q4 2022, representing 7% of total revenue.
- GAAP R&D investment was approximately 17.2% of total revenue in fiscal Q4 2022
- There were 776 100G+ total customers, which includes 17 new wins on WaveLogic Ai and 15 new wins on WaveLogic 5 Extreme
