Ciena Corp. (CIEN) Tops Q1 EPS by 7c; Issues Q2 Revs Outlook

March 6, 2014 7:01 AM
Ciena Corp. (Nasdaq: CIEN) reported Q1 EPS of $0.13, $0.07 better than the analyst estimate of $0.06. Revenue for the quarter came in at $533.7 million versus the consensus estimate of $533.75 million.

Solid execution in our fiscal first quarter, including 18% year-on-year revenue growth and 6% adjusted operating margin, demonstrates our continued momentum, reinforces our market leadership, and positions us well for the long-term opportunity ahead, said pres. & CEO Gary B. Smith. We continue to benefit from the strategic decisions we’ve made to expand our role and reach in the market, driving more consistent performance and progress toward achieving our long-term operating targets.

Ciena sees Q2 2014 revenue of $540 to $570 million, versus the consensus of $461.07 million. Adjusted (non-GAAP) gross margin in the low 40s percent range. Adjusted (non-GAAP) operating expense in the $210 million range

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