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Ciena slashes net loss on higher revenues

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Published on May 31, 2012; Published on May 31, 2012
OBJ Staff

Ciena reduced its net loss by about 55 per cent in its fiscal second quarter, on the back of higher revenues.

Its GAAP net loss fell to US$27.8 million, or $0.28 per common share, compared with $62.7 million or $0.66 per common share for the same quarter last year.

In the same time period, revenues increased to $477.6 million, from $417.9 million.

"Our second quarter was highlighted by strong revenue growth and positive overall operating performance, which demonstrated our ability to deliver operating leverage," stated CEO Gary Smith.

"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."

The Maryland-based network equipment maker, which has a presence in Ottawa, reported a third-quarter outlook of revenue between $455 million and $485 million, adjusted (non-GAAP) gross margin of 40 per cent, and adjusted (non-GAAP) operating expenses of the low-to-mid $180 million range.

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