Bookmark and Share

Ciena Shares Surge as Q2 Loss Narrows (CIEN)

Shares of Ciena Corporation (NASDAQ: CIEN) surged on Thursday after the Linthicum, Maryland-based company said that its second-quarter loss narrowed as revenue rose 14%.

Gary Smith, President and CEO of Ciena, said that the company remains well-positioned for future growth and still expects its operating results for the second half of the year to be stronger than those in the first half.

Ciena, which provides communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic, reported a net loss of $27.8 million, or $0.28 per share for the second quarter ended April 30. This compares with a net loss of $62.7 million, or $0.66 per share reported for the same period in the previous year.

Excluding special items, Ciena reported a profit of $0.04 per share. Revenue for the quarter was $477.6 million, compared with $417.9 million reported for the same period in the previous year.

Analysts were expecting Ciena to report a loss per share of $0.03 on revenue of $447 million in the second quarter.

Ciena also provided guidance for the third quarter. The company expects third-quarter revenue to come in between $455 million and $485 million. This compares with Street estimates of $470.4 million.

Ciena shares were amongst the biggest gainers on Thursday. The stock rose to an intra-day high of $13.67 on Thursday before finishing the day 14.06% higher at $13.55.

Year-to-date, CIEN Shares have gained 11.98%, compared with a gain of 8.52% for the Nasdaq.


Leave a Reply




You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

All stories in are for informational purposes only. This is NOT a stock recommendation. This story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at . About is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.