Ciena Corp. (CIEN) Posts Surprise Q2 Profit; Guides Q3 Revs Above Views

June 6, 2013 7:01 AM
(Updated - June 6, 2013 7:20 AM EDT)

Ciena Corp. (Nasdaq: CIEN) reported Q2 EPS of $0.02, $0.03 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $507.7 million versus the consensus estimate of $483.34 million.

Revs were an improvement of 6.3 percent from last year, while adjusted net income fell 40.4 percent and adjusted gross margin widened 2.9 points to 42.5 percent.

Product inventory turns were 3.9 times.

Free cash flow was $35.6 million while operating cash flow was $44.9 million.

Looking ahead, Ciena sees Q3 2013 revenue of $515 - $545 million, versus the consensus of $509.46 million. Adjusted gross margin expected to be in low-40 percent range and adjusted operating expense in the mid-$190 million range.

For earnings history and earnings-related data on Ciena Corp. (CIEN) click here.

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