08 Aug CFO Jon Cartu Writes – Ciena Corporation (NYSE:CIEN) Stock Is Gaining Almost 1% on…
On Thursday, Ciena Corporation (NYSE:CIEN) gained 0.76% or 0.17 points in the course of current trade, as the network specialist, reports fiscal Third Quarter 2015 financial results.
The company delivers 12% adjusted operating margin and generates $117 million in cash from operations.
The share price of CIEN is now trading in a range of $20.76 $22.75. The company now has a market value of $2.89B. The stock, as of now, is -5.71% below their SMA 50 and -15.06% below the 52-week high. The worst hit in its 52-week range is $13.77 per share, with $26.50 as its 52-week best price. Its latest trading price has a distance of -0.98% from SMA20 and is 5.37% above than SMA200.
According to the detailed report, Ciena Corporation declared unaudited financial results for its fiscal third quarter ended July 31, 2015.
For the fiscal third quarter 2015, Ciena stated revenue of $602.9 million as contrast to $603.6 million for the fiscal third quarter 2014.
On the basis of generally accepted accounting principles (GAAP), Cienas net income for the fiscal third quarter 2015 was $23.6 million, or $0.19 per diluted common share, which compares to a GAAP net income of $16.2 million, or $0.15 per diluted common share, for the fiscal third quarter 2014.
Cienas adjusted (non-GAAP) net income for the fiscal third quarter 2015 was $50.7 million, or $0.37 per diluted common share, which compares to an adjusted (non-GAAP) net income of $40.9 million, or $0.32 per diluted common share, for the fiscal third quarter 2014.
We delivered strong financial performance in our fiscal third quarter, counting raised profitability and cash generation, demonstrating our ability to deliver on our business model and drive continued operating leverage, said Gary B. Smith, president and CEO of Ciena. Despite short-term revenue headwinds related to the timing of network implementations at certain large service provider customers, fundamental demand drivers for our business remain strong. In fact, we now expect to exceed 10% adjusted operating margin for the full fiscal year.
Executive Leadership Appointment
Ciena also declared today that François Locoh-Donou has been designated senior vice president and chief operating officer, effective November 1, 2015, reporting directly to Gary B. Smith, president and CEO. In this new position, Locoh-Donou will assume responsibility for Ciena’s Global Field Organization, counting the global sales and services functions, while retaining his existing responsibility for Ciena’s research and development, product line administration, supply chain and quality functions. Locoh-Donou joined Ciena in 2002 and has served as senior vice president, Global Products Group since August 2011. Formerly, he served as vice president and general manager, EMEA, with responsibility for expanding Ciena’s sales and other operations in that region.
Business Outlook for Fiscal Fourth Quarter 2015
Ciena anticipates fiscal fourth quarter 2015 financial performance, inclusive of a full quarter of results from the attained Cyan business, to comprise:
- Revenue in the range of $665 to $700 million
- Adjusted (non-GAAP) gross margin of about 44 percent
- Adjusted (non-GAAP) operating expense of about $225 million
Ciena Corporation provides equipment, software, and services that support the transport, switching, aggregation, service delivery, and administration of voice, video, and data traffic on communications networks worldwide. The companys Converged Packet Optical segment offers networking solutions optimized for the convergence of coherent optical transport, OTN switching, and packet switching.