Ciena announces Fiscal Q4 2013 and Year-End Financial Results

 Ciena Corporation has reported the unaudited financial results for its fiscal fourth quarter and year ended October 31, 2013. For the fiscal fourth quarter 2013, Ciena reported revenue of $583.4 million as compared to $465.5 million for the fiscal fourth quarter 2012. For the fiscal year 2013, Ciena reported revenue of $2.1 billion, as compared to $1.8 billion for the fiscal year 2012.
 
On the basis of generally accepted accounting principles (GAAP), Ciena's net loss for the fiscal fourth quarter 2013 was $(9.8) million, or $(0.09) per common share, which compares to a GAAP net loss of $(38.8) million, or $(0.39) per common share, for the fiscal fourth quarter 2012.
 
Ciena's adjusted (non-GAAP) net income for the fiscal fourth quarter 2013 was $18.3 million, or $0.16 per diluted common share, which compares to an adjusted (non-GAAP) net loss of $(6.7) million, or $(0.07) per common share, for the fiscal fourth quarter 2012.
 
Gary Smith, President & CEO, Ciena, said, “Fiscal 2013 was a strong year for Ciena, with industry-leading revenue growth, record backlog, increased market share, and a three-fold improvement in adjusted operating profit over last year. This performance validates the strategic market differentiation we’ve established with our OP architecture, our unique approach to customer engagement, and our continued technology innovation. These differentiators will help us continue to grow revenue and increase operating leverage in 2014.”
 
For the fiscal year 2013, Ciena's adjusted (non-GAAP) net income was $59.0 million, or $0.54 per diluted common share, as compared to an adjusted (non-GAAP) net loss of $(23.5) million, or $(0.24) per common share for the fiscal year 2012.