Minutes ago, optical equipment manufacturer Ciena reported their 2020Q4 results for the period ending October 31, 2020. With Covid running rampant throughout the world, results were non-surprisingly down from the year ago period.
For 2020Q4, Ciena reported revenue of $828.5M as compared to $968.0M to the year ago period. For full year fiscal 2020, the revenue was $3.53B, as compared to $3.57B to the previous year.
GAAP net income for the fiscal 2020Q4 was $65.0M or $0.42 per share, which compares to a GAAP net income of $80.3M, or $0.51 per share, to the corresponding period a year ago. For the full year period, GAAP net income was $361.3M, or $2.32 per share, as compared to a GAAP net income of $253.4M, or $1.61 per share in 2019.
“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. “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.”
Trying to predict what are “reasonable” results in a Covid world is beyond my pay grade. At the time of writing of this article, the pre-market price of Ciena shares are down over 3%. The real question is what kind of results we can expect in 2021 as the Covid vaccine is rolled out? For an answer to that, there is a great local fortune teller that I can suggest.
Q3 results are here.
To see the actual announcement, go to https://investor.ciena.com/news/press-release-details/2020/Ciena-Reports-Fiscal-Fourth-Quarter-2020-and-Year-End-Financial-Results/default.aspx.