For the fiscal fourth quarter 2017, Ciena reported revenue of $744.4 million up 3.9% over last year. For fiscal year 2017, Ciena reported revenue of $2.80 billion an increase of 7.7% over last year.
For fiscal year 2017, Ciena had a GAAP net income of $1.26 billion, or $7.53 per diluted common share, which compares to a GAAP net income of $72.6 million or $0.51 per diluted common share for fiscal year 2016. But this was at least partially attributed to a tax benefit of $1.13 billion related to the reversal of a deferred tax asset valuation allowance.
Geographically, European sales increased the most.
“Our fourth quarter and fiscal 2017 results reinforce our continued ability to adapt to changing market conditions by growing revenue and expanding profitability as we outperform the industry,” said Gary B. Smith, president and CEO, Ciena. “We are confident that our long-term strategy to scale and diversify our existing business and to expand our addressable market will enable us to continue to grow and generate cash.”
Investor reaction was positive, with shares up 7% in the pre-market.
To see details on the financial results, see http://investor.ciena.com/phoenix.zhtml?c=99134&p=irol-newsArticle_print&ID=2321574