Ciena (CIEN) Tops Q2 EPS by 7c; Guides In-Line
Ciena (NYSE: CIEN) reported Q2 EPS of $0.34, $0.07 better than the analyst estimate of $0.27. Revenue for the quarter came in at $640.7 million versus the consensus estimate of $630.74 million.
"This quarter's strong financial performance is a result of the investments we've made to diversify our business, in particular the expansion of our packet business and our momentum in key geographies," said Gary B. Smith, president and CEO, Ciena. "As the industry shifts toward an on-demand networking model across an open ecosystem, we are confident in our ability to address those demands with a broader set of customers, applications and geographies to deliver sustainable long-term growth and increased profitability."
Ciena sees Q3 2016 revenue of $655-685 million, versus the consensus of $664.33 million. Adjusted (non-GAAP) gross margin in the mid-40s percentage range; Adjusted (non-GAAP) operating expense of approximately $225 millio.
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