The Maryland-based networking giant, which has a presence in Ottawa, brought in revenues of $453.1 million – up 8.7 per cent over the $416.7 million from the same period a year previous.
Ciena’s GAAP net loss was a modest improvement over last year’s net loss of $47.7 million. After adjustments, however, Ciena saw a net income of $12.3 million, which compares favourably to an adjusted net loss of $16.5 million for the first quarter of fiscal 2012.
“Our strong first quarter performance reflects a solid start to our fiscal year,” stated Ciena president and CEO Gary Smith in a company release.
“We have positioned Ciena to take advantage of the underlying market dynamics, which are increasingly aligned with our strategy and competitive strengths. We believe the combination of our technology and market share leadership as well as our strategic customer relationships will enable us to continue growing faster than the market.”
Next quarter, the company projects it will generate revenues in the range of $465 million to $495 million.
Cash and investments for the company totaled $637.2 million during the quarter.
The company’s local office is believed to occupy about 265,000 square feet on Nortel's former campus on Carling Avenue.
Ciena has approximately 1,300 local employees according to OBJ’s 2012 Book of Lists. That’s almost 30 per cent of its total employee base of 4,448 that the company disclosed in its quarterly results.
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