Optical telecommunication equipment vendor Ciena announced stellar 2021Q4 and year end results this morning. For fiscal Q4 2021, Ciena reported revenue of $1.04 billion, up 25.7% from $828.5 million for fiscal fourth quarter 2020. For fiscal year 2021, Ciena reported revenue of $3.62 billion, as compared to $3.53 billion for fiscal year 2020.
Ciena’s GAAP net income for Q4 2021 was $103.5 million, or $0.66 per diluted common share, as compared to net income of $65.0 million, or $0.42 per diluted common share, for Q4 2020. For FY 2021, Ciena’s net income was $500.2 million, or $3.19 per diluted common share, as compared to net income of $361.3 million, or $2.32 per diluted common share, for FY 2020.
“Our strong financial results exceeded our expectations in the fourth quarter and for the full fiscal year, driven by continued execution of our strategy and our demonstrated ability to manage supply chain challenges,” said Gary Smith, President and CEO, Ciena. “Looking ahead, we intend to continue driving growth in our business by leveraging our market leadership and investing to capitalize on robust demand dynamics. In addition, our strong balance sheet and cash generation expectations allow us to increase return of capital to our shareholders.”
Ciena has been aided by their dominant position and 18-month head start in providing 800G systems in the market.on
Management’s confidence in the future was underlined by their decision to repurchase a billion dollars in shares.
Investors were ecstatic about the results! Ciena shares jumped 15.6% on the same day that the S&P500 was down 0.72%
To see Ciena’s actual earnings release https://investor.ciena.com/news/press-release-details/2021/Ciena-Reports-Fiscal-Fourth-Quarter-2021-and-Year-End-Financial-Results/default.aspx
To see comments on Ciena’s previous quarter, look to: https://www.truepulse.com/ciena-announces-2021q3-results/
TruePulse buys and sell Ciena optical transport equipment, including the CoreStream, the Optera Connect DX, the Optera Metro 5100/5200, and their flagship product: the 6500. Please let us know if you have any surplus Ciena networking cards.