Optical telecom equipment vendor Ciena Corporation today announced unaudited financial results for its fiscal second quarter ended April 30, 2016.
For the fiscal second quarter 2016, Ciena reported revenue of $640.7 million as compared to $621.6 million for the fiscal second quarter 2015.
On the basis of generally accepted accounting principles (GAAP), Ciena’s net income for the fiscal second quarter 2016 was $14.0 million, or $0.10 per diluted common share, which compares to a GAAP net income of $20.7 million, or $0.17 per diluted common share, for the fiscal second quarter 2015.
“This quarter’s strong financial performance is a result of the investments we’ve made to diversify our business, in particular the expansion of our packet business and our momentum in key geographies,” said Gary B. Smith, president and CEO, Ciena.
With a strike on at Verizon, one of Ciena’s key customers, from April 13 until last Friday, I would have assumed that this would not have been a banner quarter for Ciena. I was wrong. I wasn’t the only one caught off guard – Ciena’s share price jumped almost 13% today!
If you look at the press, it has very little management discussion. It just seems to reinforce the cliché “Success needs no explanation; failure allows no excuses”.
Ciena’s press release