Seeking Alpha

Ciena dives more than 10% after earnings miss

  • Ciena (CIENtumbles 11.5% premarket after a big miss on FQ4 results - reporting adjusted EPS of $0.16 per share vs. expectations of $0.24.
  • Adjusted gross margin of 40.8% compares to 43.6% the previous quarter. Adjusted operating margin of 4.7% falls from 8.2% the previous quarter. Operating expenses rose to $210.5M from $190.4M.
  • FQ1 revenue guidance of $515M-$545M is inline with Street expectations.
  • The company will swap its Nasdaq (NDAQ) listing for one on the NYSE (ICE). The stock symbol will remain the same.
  • FQ4 results, press release
  • CC at 8:30 ET
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