March 6, 2023: Earlier today, optical telecommunication equipment vendor Ciena announced impressive 2023Q1 results. Ciena reported revenue of $1.06 billion up from $844.4 million in the year ago quarter. Ciena’s GAAP net income was $76.2 million, or $0.51 per diluted common share, which compares to a GAAP net income of $45.8 million, or $0.29 per diluted common share in the period a year back.
“We delivered record revenue in the first quarter, reflecting continued gradual improvement in the supply chain environment and strong customer demand for our market-leading technology,” said Gary Smith, president and CEO of Ciena. “With strong momentum across our business, supported by robust fundamental drivers and visibility provided by our backlog, we remain confident in our ability to continue to take market share.”
The results were driven by post-Covid easing of supply chains providing parts required to ship equipment that had been back ordered. Good sign for the telecommunication equipment industry as a whole.
Investors were delighted with the results. Shares closed up 4% on the day.
To see Ciena’s actual earnings release: https://investor.ciena.com/news-releases/news-release-details/ciena-reports-fiscal-first-quarter-2023-financial-results
For previous comments on Ciena results.
TruePulse buys and sells Surplus and Refurbished Ciena telecom equipment including the 6500, the CoreDirector, the DN 7200 and the OM 5100. Please let us know about any equipment that you may be interested in.