Ciena Reports Fiscal Second Quarter 2012 Financial Results

Increases revenue 14% year-over-year; Achieves 3% as-adjusted operating profit; Increases cash position by $35 million 

LINTHICUM, Md. — 05/31/2012 Ciena^® Corporation (NASDAQ: CIEN), the network specialist, today announced unaudited financial results for its fiscal second quarter ended April 30, 2012.
For the fiscal second quarter 2012, Ciena reported revenue of $477.6 million.
On the basis of generally accepted accounting principles (GAAP), Ciena's net loss for the fiscal second quarter 2012 was $(27.8) million, or $(0.28) per common share, which compares to a GAAP net loss of $(62.7) million, or $(0.66) per common share, for the fiscal second quarter 2011.
Ciena's adjusted (non-GAAP) net income for the fiscal second quarter 2012 was $3.7 million, or $0.04 per common share, which compares to an adjusted (non-GAAP) net loss of $(22.4) million, or $(0.24) per common share, for the fiscal second quarter 2011.
“Our second quarter was highlighted by strong revenue growth and positive overall operating performance, which demonstrated our ability to deliver operating leverage,” said Gary Smith, president and CEO of Ciena.  “We remain confident that we are well positioned for future growth and continue to expect our second half operating results to be stronger than the first half.”