Weighted average diluted potential common shares outstanding used in calculating Adjusted (non-GAAP) diluted net income per potential common share for the fourth quarter of fiscal 2019 includes 1.8 million shares underlying certain stock option and stock unit awards. To protect your privacy, please do not enter any personal information, Ciena Reports Fiscal Fourth Quarter 2020 and Year-End Financial Results. For updates on Ciena, follow us on Twitter @Ciena, LinkedIn, the Ciena Insights blog, or visit www.ciena.com. For fiscal year 2019, Ciena's adjusted (non-GAAP) net income was $331.8 million, or $2.11 per diluted common share, as compared to an adjusted (non-GAAP) net income of $210.6 million, or $1.39 per diluted common share for fiscal year 2018. Q4 Revenue: $828.5 million Q4 Net Income per Share: $0.42 GAAP; $0.60 adjusted (non-GAAP), increasing 3.4% year over year Share Repurchases: Reinstituting share repurchase program with the intent […] Ciena (NYSE: CIEN) is a networking systems, services and software company. pr@ciena.com, Investor Contact: APPENDIX B - Calculation of EBITDA and Adjusted EBITDA (unaudited), Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA), Less: Interest and other income (loss), net, Add: Loss on extinguishment and modification of debt, Add: Depreciation of equipment, building, furniture and fixtures, and amortization of leasehold improvements, Add: Significant asset impairments and restructuring costs, Add: Acquisition and integration costs (recoveries). Supplemental Materials and Live Web Broadcast of Unaudited Fiscal Fourth Quarter 2020 Results. Ciena Fiscal Q4 2020 Financial Results Call . For fiscal year 2020, Ciena reported revenue of $3.53 billion, as compared to $3.57 billion for fiscal year 2019. pr@ciena.com, Investors: ir@ciena.com. About Ciena. The live audio web broadcast beginning at 8:30 a.m. Eastern will be accessible via www.ciena.com. For fiscal year 2020, Ciena's adjusted (non-GAAP) net income was $460.1 million, or $2.95 per diluted common share, as compared to an adjusted (non-GAAP) net income of $331.8 million, or $2.11 per diluted common share for fiscal year 2019. Ciena Corporation (CIEN Quick Quote CIEN - Free Report) reported lackluster fourth-quarter fiscal 2020 (ended Oct 31, 2020) results, wherein … Non-GAAP Presentation of Quarterly and Annual Results. The press release will be available on Ciena’s website at www.ciena.com.. Weighted average dilutive potential common shares outstanding used in calculating adjusted (non-GAAP) diluted net income per common share for fiscal 2019 includes 1.9 million shares underlying certain stock option and stock unit awards. Appendices A and B set forth reconciliations between the GAAP and adjusted (non-GAAP) measures contained in this release. The live audio web broadcast beginning at 8:30 a.m. Eastern will be accessible via www.ciena.com. +1 (410) 694-5700 HANOVER, Md.--(BUSINESS WIRE)-- 1. Ciena Corporation (CIEN) CEO Gary Smith on Q4 2020 Results - Earnings Call Transcript SA Transcripts Dec. 10, 2020 3:32 PM ET Why Ciena Is A Good Buy From Here (NYSE:CIEN) Ciena goes off the rails but provides some silver linings. * Denotes % change, or in the case of margin, absolute change, Blue Planet Automation Software and Services, Additional Performance Metrics for Fiscal Fourth Quarter and Year Ended October 31, 2019. Gregg Lampf Your feedback will be used on a non-identifiable basis to help improve your website experience. To the extent not previously disclosed in a prior Ciena financial results press release for the relevant period, Appendix A and B to this press release set forth a complete GAAP to non-GAAP reconciliation of the non-GAAP measures contained in this release. "Our outstanding Q4 financial performance rounded out an extraordinary year of industry-leading growth and profitability," said Gary Smith, President and CEO, Ciena. Non-GAAP Presentation of Quarterly and Annual Results. Ciena's adjusted (non-GAAP) net income for the fiscal fourth quarter 2020 was $94.5 million, or $0.60 per diluted common share, which compares to an adjusted (non-GAAP) net income of $90.4 million, or $0.58 per diluted common share, for the fiscal fourth quarter 2019. 2. We provide solutions that help our clients create the Adaptive Network™ in response to the constantly changing demands of their users. https://www.businesswire.com/news/home/20191212005133/en/. Ciena may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its shares under this authorization. Ciena's management will also host a discussion today with investors and financial analysts that will include the Company's outlook. To protect your privacy, please do not enter any personal information Forward-Looking Statements. Management believes that the non-GAAP measures below provide management and investors useful information and meaningful insight to the operating performance of the business. How was your overall experience on the site today? Q4 Revenue: $968.0 million, increasing 7.6% year over year; Q4 Net Income per Share: $0.51 GAAP; $0.58 adjusted (non-GAAP) Adjustments to reconcile net income to net cash provided by operating activities: Depreciation of equipment, furniture and fixtures, and amortization of leasehold improvements, Provision for inventory excess and obsolescence, Accounts payable, accruals and other obligations, Short and long-term operating lease liabilities, Net cash provided by operating activities. Gregg Lampf To protect your privacy, please do not enter any personal information, Ciena Reports Fiscal Fourth Quarter 2019 and Year-End Financial Results. Despite this dynamic, today’s results reflect the strength and durability of our business model, including continued strong profitability with adjusted operating margin of … Weighted average diluted potential common shares outstanding used in calculating adjusted (non-GAAP) diluted net income per potential common share for fiscal 2020 includes 1.7 million shares underlying certain stock option and stock unit awards. CONDENSED UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS, Acquisition and integration costs (recoveries), Significant asset impairments and restructuring costs, Loss on extinguishment and modification of debt, Diluted net income per potential common share, Weighted average basic common shares outstanding, Weighted average diluted potential common shares outstanding(1). Ciena's management will also host a discussion today with investors and financial analysts that will include the Company's outlook. Ciena assumes no obligation to update any forward-looking information included in this press release. Your feedback will be used on a non-identifiable basis to help improve your website experience. In evaluating the operating performance of Ciena's business, management excludes certain charges and credits that are required by GAAP. Forward-looking statements in this release include: "Our outstanding Q4 financial performance rounded out an extraordinary year of industry-leading growth and profitability. Today, Thursday, December 12, 2019, in conjunction with this announcement, Ciena has posted to the Quarterly Results page of the Investor Relations section of its website certain related supporting materials for its unaudited fiscal fourth quarter and fiscal 2019 results. You must click the link in the email to activate your subscription. You can sign up for additional subscriptions at any time. Weighted average dilutive potential common shares outstanding used in calculating adjusted (non-GAAP) diluted net income per common share for fiscal 2018 includes 1.4 million shares underlying certain stock option and stock unit awards, 1.8 million and 2.9 million shares underlying Ciena's "New" and "Original" 3.75% convertible senior notes, respectively, and 9.1 million shares underlying Ciena's 4.0% convertible senior notes. https://www.businesswire.com/news/home/20201210005427/en/, Press: Contacts Press Contact : Nicole Anderson Ciena Corporation +1 … "Our innovation, diversification and scale uniquely position us to continue taking share while delivering improved operating margin and driving sustained EPS growth in 2020.". +1 (410) 694-5761 For the fiscal fourth quarter 2015, Ciena reported revenue of $692.0 million as compared to … This press release contains certain forward-looking statements that involve risks and uncertainties. Ciena Corporation In conjunction with the announcement, Ciena will post an additional set of supporting materials to the Quarterly Results page … Shares of Ciena (NYSE: CIEN) decreased 4% in pre-market trading after the company reported Q4 results. Performance Summary for the Fiscal Fourth Quarter and the Year Ended October 31, 2020. During fiscal year 2019, Ciena repurchased approximately 3.8 million shares of its common stock at an average price of $39.10 per share for an aggregate purchase price of $150.1 million. +1 (410) 694-5761  About Ciena. Weighted average diluted potential common shares outstanding used in calculating GAAP diluted net income per potential common share for fiscal 2019 includes 1.9 million shares underlying certain stock option and stock unit awards. You are encouraged to review the Investors section of our website, where we routinely post press releases, SEC filings, recent news, financial results, supplemental financial information, and other announcements. This release includes non-GAAP measures of Ciena's gross profit, operating expense, income from operations, earnings before interest, tax, depreciation and amortization (EBITDA), Adjusted EBITDA, and measures of net income and net income per share. Ciena® Corporation expects to announce its fiscal fourth quarter financial results on Thursday, December 10, 2020. For fiscal year 2019, Ciena's GAAP net income was $253.4 million, or $1.61 per diluted common share, as compared to a GAAP net loss of $(344.7) million, or $(2.49) per diluted common share for fiscal year 2018. You can sign up for additional subscriptions at any time. You must click the link in the email to activate your subscription. Ciena's adjusted (non-GAAP) net income for the fiscal fourth quarter 2019 was $90.4 million, or $0.58 per diluted common share, which compares to an adjusted (non-GAAP) net income of $81.0 million, or $0.53 per diluted common share, for the fiscal fourth quarter 2018. Nicole Anderson All feedback provided is collected by Ciena. Weighted average diluted potential common shares outstanding used in calculating adjusted (non-GAAP) diluted net income per potential common share for fiscal 2019 includes 1.9 million shares underlying certain stock option and stock unit awards. Ciena’s Q4 Earnings Miss Estimates, Revenues Fall Y/Y Ciena reported lackluster fourth-quarter fiscal 2020 (ended Oct 31, 2020) results, wherein … The calculation of adjusted (non-GAAP) diluted net income per common share for fiscal 2018 requires adding back interest expense of approximately $1.8 million associated with Ciena's "Original" 3.75% convertible senior notes and approximately $8.7 million associated with Ciena's 4.0% convertible senior notes to the adjusted (non-GAAP) net income in order to derive the numerator for the adjusted (non-GAAP) earnings per common share calculation. In evaluating the operating performance of Ciena's business, management excludes certain charges and credits that are required by GAAP. By delivering best-in-class networking technology through high-touch consultative relationships, we build the world’s most agile networks with automation, openness and scale. HANOVER, Md.--(BUSINESS WIRE)-- Ciena ® Corporation (NASDAQ:CIEN, news, filings), a networking systems, services and software company, today announced unaudited financial results for its fiscal fourth quarter and year ended October 31, 2019. "; "Our innovation, diversification and scale uniquely position us to continue taking share while delivering improved operating margin and driving sustained EPS growth in 2020.". This release includes non-GAAP measures of Ciena's gross profit, operating expense, income from operations, earnings before interest, tax, depreciation and amortization (EBITDA), Adjusted EBITDA, and measures of net income and net income per share. Shares of Ciena (NYSE: CIEN) decreased 4% in pre-market trading after the company reported Q4 results. Ciena's actual results, performance or events may differ materially from these forward-looking statements made or implied due to a number of risks and uncertainties relating to Ciena's business, including: the effect of broader economic and market conditions on our customers and their business; changes in network spending or network strategy by customers; seasonality and the timing and size of customer orders, including our ability to recognize revenue relating to such sales; the level of competitive pressure we encounter; the product, customer and geographic mix of sales within the period; supply chain disruptions and the level of success relating to efforts to optimize Ciena's operations; changes in foreign currency exchange rates affecting revenue and operating expense; the impact of the Tax Cuts and Jobs Act, changes in estimates of prospective income tax rates and any adjustments to Ciena's provisional estimates whether related to further guidance, analysis or otherwise, and the other risk factors disclosed in Ciena's periodic reports filed with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q filed with the SEC on September 11, 2019 and its Annual Report on Form 10-K to be filed with the SEC. Ciena assumes no obligation to update any forward-looking information included in this press release. Ciena Corporation CIEN is scheduled to report fourth-quarter fiscal 2020 results (ended Oct 31, 2020) on Dec 10, before the opening bell. Weighted average diluted potential common shares outstanding used in calculating GAAP diluted net income per potential common share for the fourth quarter of fiscal 2019 includes 1.8 million shares underlying certain stock option and stock unit awards. ir@ciena.com. Ciena Corporation For the fiscal fourth quarter 2019, Ciena reported revenue of $968.0 million as compared to $899.4 million for the fiscal fourth quarter 2018. Your feedback will be used on a non-identifiable basis to help improve your website experience. Ciena Corporation CIEN is scheduled to report fourth-quarter fiscal 2020 results (ended Oct 31, 2020) on Dec 10, before the opening bell.In the last reported quarter, the company delivered a positive earnings surprise of 27.7%. You are encouraged to review the Investors section of our website, where we routinely post press releases, SEC filings, recent news, financial results, supplemental financial information, and other announcements. Ciena's fiscal fourth-quarter revenue of $828.5 million was down 14.4% over the prior-year period, though it … "While we expect current market conditions to persist in the near-term, we are confident in strong secular demand dynamics and our ability to continue to outperform the market.". All feedback provided is collected by Ciena. Today, Thursday, December 10, 2020, in conjunction with this announcement, Ciena has posted to the Quarterly Results page of the Investor Relations section of its website certain related supporting materials for its unaudited fiscal fourth quarter and fiscal 2020 results. Ciena's GAAP net income for the fiscal fourth quarter 2019 was $80.3 million or $0.51 per diluted common share, which compares to a GAAP net income of $64.0 million, or $0.34 per diluted common share, for the fiscal fourth quarter 2018. The tables below (in millions, except percentage data) provide comparisons of certain quarterly and annual results to the prior year. From time to time we exclusively post material information to this website along with other disclosure channels that we use. Adjustments to reconcile net income to net cash provided by operating activities: Loss on fair value of debt conversion liability, Depreciation of equipment, furniture and fixtures, and amortization of leasehold improvements, Provision for inventory excess and obsolescence, Accounts payable, accruals and other obligations, Net cash provided by operating activities, Payments for equipment, furniture, fixtures and intellectual property, Purchase of available for sale securities, Proceeds from maturities of available for sale securities, Settlement of foreign currency forward contracts, net, Acquisition of businesses, net of cash acquired, Net cash provided by (used in) investing activities, Proceeds from issuance of long-term debt, net, Payment for make-whole provision upon conversion of long-term debt, Shares repurchased for tax withholdings on vesting of restricted stock units, Repurchases of common stock - repurchase program, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net increase (decrease) in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash at beginning of fiscal year, Cash, cash equivalents and restricted cash at end of fiscal year, Supplemental disclosure of cash flow information, Cash paid during the fiscal year for interest, Cash paid during the fiscal year for income taxes, net, Non-cash investing and financing activities, Purchase of equipment in accounts payable, Contingent consideration for acquisition of business, Conversion of 3.75% convertible senior notes, due October 15, 2018 (Original) into 3,038,208 shares of common stock, Conversion of 4.0% convertible senior notes, due December 15, 2020 into 9,197,943 shares of common stock, net, Conversion of debt conversion liability into 1,585,140 shares of common stock, APPENDIX A- Reconciliation of Adjusted (Non- GAAP) Measurements (unaudited), Gross Profit Reconciliation (GAAP/non-GAAP), Total adjustments related to gross profit, Adjusted (non-GAAP) gross profit percentage, Operating Expense Reconciliation (GAAP/non-GAAP), Share-based compensation-research and development, Share-based compensation-sales and marketing, Share-based compensation-general and administrative, Total adjustments related to operating expense, Income from Operations Reconciliation (GAAP/non-GAAP), Total adjustments related to income from operations, Adjusted (non-GAAP) income from operations, Adjusted (non-GAAP) operating margin percentage, Net Income (Loss) Reconciliation (GAAP/non-GAAP), Exclude GAAP provision (benefit) for income taxes, Change in fair value of debt conversion liability, Non-GAAP tax provision on adjusted income before income taxes, Weighted average dilutive potential common shares outstanding 1, GAAP diluted net income (loss) per common share, Adjusted (non-GAAP) diluted net income per common share 2. Appendices A and B set forth reconciliations between the GAAP and adjusted (non-GAAP) measures contained in this release. An archived replay of the live broadcast will be available shortly following its conclusion on the Investor Relations page of Ciena's website. Ciena ® Corporation (NYSE: CIEN) expects to announce its fiscal fourth quarter and year end 2020 financial results on Thursday, December 10, 2020 before the open of the financial markets. Supplemental Materials and Live Web Broadcast of Unaudited Fiscal Fourth Quarter 2019 Results. Weighted average dilutive potential common shares outstanding used in calculating GAAP diluted net income per common share for fiscal 2019 includes 1.9 million shares underlying certain stock option and stock unit awards. Add to Apple Calendar; ... All feedback provided is collected by Ciena. Weighted average diluted potential common shares outstanding used in calculating GAAP diluted net income per potential common share for fiscal 2020 includes 1.7 million shares underlying certain stock option and stock unit awards. The adjusted (non-GAAP) measures above and their reconciliation to Ciena's GAAP results for the periods presented reflect adjustments relating to the following items: View source version on businesswire.com: Zacks Equity Research also said that Ciena's revenue and earnings per share for the fourth quarter missed its consensus estimates by -6.25% and 0.02% respectively. Performance Summary for the Fiscal Fourth Quarter and the Year Ended October 31, 2019. Your feedback will be used on a non-identifiable basis to help improve your website experience. https://www.businesswire.com/news/home/20191212005133/en/, Press Contact: (1) Weighted average diluted potential common shares outstanding used in calculating GAAP diluted net income per potential common share for the fourth quarter of fiscal 2020 includes 1.9 million shares underlying certain stock option and stock unit awards. Ciena ® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal fourth quarter and year ended October 31, 2020. The presentation of these non-GAAP financial measures should be considered in addition to Ciena's GAAP results and these measures are not intended to be a substitute for the financial information prepared and presented in accordance with GAAP. By delivering best-in-class networking technology through high-touch consultative relationships, we build the world’s most agile networks with automation, openness and scale. (1) Weighted average diluted potential common shares outstanding used in calculating Adjusted (non-GAAP) diluted net income per potential common share for the fourth quarter of fiscal 2020 includes 1.9 million shares underlying certain stock option and stock unit awards. HANOVER, Md.--(BUSINESS WIRE)--Ciena Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal fourth quarter and year ended October 31, 2020.Q4 Revenue: $828.5 million; Q4 Net Income per Share: $0.42 GAAP; $0.60 adjusted (non-GAAP), increasing 3.4% year over year Share Repurchases: … Ciena ® Corporation (NYSE: CIEN), the network specialist, today announced unaudited financial results for its fiscal fourth quarter and year ended October 31, 2015. -- Ciena Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results … Ciena may purchase shares at management's discretion in the open market, in privately negotiated transactions, in transactions structured through investment banking institutions, or a combination of the foregoing. To receive notifications via email, enter your email address and select at least one subscription below. Ciena (NYSE: CIEN) is a networking systems, services and software company. December 10, 2020 08:30 AM EST. After submitting your information, you will receive an email. These statements are based on current expectations, forecasts, assumptions and other information available to the Company as of the date hereof. Ciena's actual results, performance or events may differ materially from these forward-looking statements made or implied due to a number of risks and uncertainties relating to Ciena's business, including: the effect of broader economic and market conditions on our customers and their business; our ability to execute our business and growth strategies; the duration and severity of the COVID-19 pandemic and the impact of countermeasures taken to mitigate its spread; the impact of COVID-19 on macroeconomic conditions, the level of economic activity, demand for our technology solutions, short- and long-term customer or end user needs and changes thereto, continuity of supply chain, logistics and business operations, liquidity and financial results; changes in network spending or network strategy by customers; seasonality and the timing and size of customer orders, including our ability to recognize revenue relating to such sales; the level of competitive pressure we encounter; the product, customer and geographic mix of sales within the period; supply chain disruptions and the level of success relating to efforts to optimize Ciena's operations; changes in foreign currency exchange rates affecting revenue and operating expense; the impact of the Tax Cuts and Jobs Act, changes in estimates of prospective income tax rates and any adjustments to Ciena's provisional estimates whether related to further guidance, analysis or otherwise, and the other risk factors disclosed in Ciena's periodic reports filed with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q filed with the SEC on September 9, 2020 and its Annual Report on Form 10-K to be filed with the SEC. Ciena Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal fourth quarter and year ended October 31, 2020. This press release contains certain forward-looking statements that involve risks and uncertainties. From time to time we exclusively post material information to this website along with other disclosure channels that we use. The program may be modified, suspended or discontinued at any time. * Denotes % change, or in the case of margin, absolute change, Blue Planet Automation Software and Services, Additional Performance Metrics for Fiscal Fourth Quarter and Year Ended October 31, 2020. Ciena (NYSE:CIEN) is scheduled to announce Q4 earnings results on Thursday, December 10th, before market open.The consensus EPS Estimate is $0.63 (+8.6% Y/Y) … Ciena® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal fourth quarter and … Overall, how easy was it to find the information you were looking for? Today, Thursday, December 13, 2018, in conjunction with this announcement, Ciena has posted to the Quarterly Results page of the Investor Relations section of its website certain prepared remarks of management and related supporting materials for … How was your overall experience on the site today? Inventories totaled $344.4 million, including: Reserve for excess and obsolescence: $(39.6) million, Product inventory turns were 4.0 and 4.6 for the fiscal quarter and year, respectively. Despite this dynamic, today’s results reflect the strength and durability of our business model, including continued strong profitability with adjusted operating margin of 15.8% in Q4 and 17.6% for the full fiscal year, which exceeded our forecast. Ciena reported a profit of $0.58 per share when it published results during the same quarter last year. Weighted average dilutive potential common shares outstanding used in calculating adjusted (non-GAAP) diluted net income per common share for the fourth quarter of fiscal 2019 includes 1.8 million shares underlying certain stock option and stock unit awards. Ciena Corporation CIEN reported lackluster fourth-quarter fiscal 2020 (ended Oct 31, 2020) results, wherein the bottom line missed the Zacks … Ciena Corporation CIEN is scheduled to report fourth-quarter fiscal 2020 results (ended Oct 31, 2020) on Dec 10, before the opening bell. The calculation of adjusted (non-GAAP) diluted net income per common share for the fourth quarter of fiscal 2018 requires adding back interest expense of approximately $0.4 million associated with Ciena's "Original" 3.75% convertible senior notes and approximately $2.3 million associated with Ciena's 4.0% convertible senior notes to the adjusted (non-GAAP) net income in order to derive the numerator for the adjusted (non-GAAP) earnings per common share calculation. For fiscal year 2019, Ciena reported revenue of $3.57 billion, as compared to $3.09 billion for fiscal year 2018. We provide solutions that help our clients create the Adaptive Network™ in response to the constantly changing demands of their users. Today, Thursday, December 12, 2019, in conjunction with this announcement, Ciena has posted to the Quarterly Results page of the Investor Relations section of its website certain related supporting materials for its unaudited fiscal fourth quarter and fiscal 2019 results. 1. "Our fiscal fourth quarter and full-year 2020 performance reported today demonstrates that we have the innovation, diversification and global scale to perform well in a challenging environment," said Gary Smith, President and CEO, Ciena. An archived replay of the live broadcast will be available shortly following its conclusion on the Investor Relations page of Ciena's website. For the fiscal fourth quarter 2020, Ciena reported revenue of $828.5 million as compared to $968.0 million for the fiscal fourth quarter 2019. After temporarily suspending repurchases of our common stock during fiscal 2020, we will be reinstituting this program in first quarter of 2021 and are currently targeting repurchases in the range of $150 million during fiscal 2021. Forward-looking statements include statements regarding Ciena's expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words.