Ciena Jumps Up On Good Numbers

August 30, 2007 by Douglas A. McIntyre

Ciena (CIEN) network specialist, announced results for its fiscal third quarter ended July 31, 2007. Revenue for the third quarter totaled $205.0 million, an increase of 34.4% over the same period a year ago when the firm reported sales of $152.5 million.

Ciena’s net income for the fiscal third quarter 2007 was $28.3 million, or $0.29 per diluted share. compared with a reported GAAP net loss of $4.3 million, or a loss of $0.05 per share, for the same period a year ago.

“Consistent execution of our network specialist strategy has enabled Ciena to benefit from two significant industry trends: the demand for increasing network capacity and the transition to Ethernet/IP-based network infrastructures,” said Gary Smith, Ciena president and CEO

Shares are up almost 7% in the pre-market to $40.82, which means the company could open at a 52-week high.

Douglas A. McIntyre