Post-Earnings Insight - Ciena

LONDON, September 8, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings insight on Ciena Corp. (NYSE: CIEN). The company featured in the headlines on Thursday, September 04, 2014 after reporting financial results for Q3 FY14, period ended July 31, 2014. During Q3 FY14, Ciena Corp.'s revenue grew 12.1% Y-o-Y and its adjusted EPS increased $0.09 from Q3 FY13. Our free coverage report can be accessed at:

www.investor-edge.com/register

Earnings Overview  

During Q3 FY14, Ciena Corp.'s revenue increased to $603.56 million, from $538.36 million in the year ago comparable quarter. Analysts from Bloomberg were expecting revenue of $600.89 million for the reported quarter. On a GAAP basis, Ciena Corp. swung to profits in Q3 FY14 and reported a net income of $16.16 million, or $0.15 per diluted common share, compared to a GAAP net loss of $1.23 million, or a loss of $0.01 per diluted common share, in Q3 FY13. Analysts from Bloomberg were anticipating GAAP net income of $12.29 million, or $0.13 per diluted share, in Q3 FY14. During the reported quarter, the company's non-GAAP net income broadened to $40.90 million, or $0.32 per diluted common share, from $26.21 million, or $0.23 per diluted common share, in the previous year quarter. Ciena Corp.'s non-GAAP operating margin for Q3 FY14 also improved to 10.1%, from 8.2% in the prior year quarter. The free research on CIEN can be downloaded as in PDF format at:

www.Investor-Edge.com/CIENFreeReport

During Q3 FY14, the biggest chunk of the company's revenue came from its Converged Packet Optical segment, which contributed 63.3% to it. In addition, its Software and Services, Packet Networking, and Optical Transport contributed 20.1%, 11.5%, and 5.1% respectively to the company's total revenue. Also, Ciena Corp.'s non-US customers contributed 39% to its revenue during the reported quarter.

For the period ended July 31, 2014, the company's cash and investments totalled $718.2 million and its cash flow from operations stood at $51.1 million. For the upcoming quarter, the Hanover, Maryland-based company expects revenue to be in the range of $570 to $610 million. The non-GAAP gross margin is projected between the high 30% to low 40% range and non-GAAP operating expense is expected to be approximately $210 million. Sign up and read the free analyst's notes on CIEN at:

www.Investor-Edge.com/CIEN-08092014

Gary B. Smith, President and CEO of Ciena Corp., stated in the press release that the company's outstanding third quarter performance demonstrates its ability to grow profitability and outperform the market. He added that as the company expands by targeting its high-growth, high-value segments, it is confident in its opportunity to grow the business and drive additional operating leverage in FY15.

Stock Performance  

On the day of the earnings release, September 04, 2014, Ciena Corp.'s stock took a beating of 9.53%, ending the session at $18.51. The stock reversed some of its losses on the following day, and finished 4.70% higher at $19.38 on Friday, September 05, 2014. The stock vacillated between $18.86 and $19.52 during Friday's session. A total of 6.91 million shares were traded, which was significantly above its three months average volume of 3.30 million shares. Over the previous three trading sessions and from the beginning of 2014, the company's shares have fallen by 3.87% and 19.01%, respectively, although, over the last one month, the shares have advanced slightly by 0.99%. Ciena Corp.'s shares are trading below their 50-day and 200-day moving averages of $20.09 and $21.61, respectively. Furthermore, the stock has a Relative Strength Index (RSI) of 46.08. Visit Investor-Edge and access the latest research on CIEN at:

www.Investor-Edge.com/CIENEarningsCoverage

Sneak Peek to Corporate Insider Trading  

In the last one month, Ciena Corp. has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on CIEN is available at:

www.Investor-Edge.com/CIENInsiderTrading

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