Ciena Corp. (CIEN) Tops Q2 EPS by 4c; Guides Q3 Revs Above Views
(Updated - June 5, 2014 7:04 AM EDT)
Ciena Corp. (NYSE: CIEN) reported Q2 EPS of $0.17, $0.04 better than the analyst estimate of $0.13. Revenue for the quarter came in at $560.1 million versus the consensus estimate of $559.18 million.
Additional Performance Metrics for Fiscal Second Quarter 2014
- Non-U.S. customers contributed 42% of total revenue
- One customer accounted for greater than 10% of revenue and represented 21.5% of total revenue
- Cash and investments totaled $430.2 million
- Cash flow from operations totaled $2.0 million
- Average days' sales outstanding (DSOs) were 83
- Accounts receivable balance was $515.0 million
- Inventories totaled $294.0 million, including:
- Raw materials: $56.7 million
- Work in process: $7.9 million
- Finished goods: $181.0 million
- Deferred cost of sales: $95.9 million
- Reserve for excess and obsolescence: $(47.5) million
- Product inventory turns were 3.5
- Headcount totaled 4,998
The company sees Q3 revs of $585 to $615 million, while the Street consensus is at $583.3 million. Sees adjusted (non-GAAP) gross margin in the low to mid 40s percent range.
For earnings history and earnings-related data on Ciena Corp. (CIEN) click here.