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More on Ciena's FQ2: The company expects FQ3 revenue of $455M-$485M, in-line with a $471.1M...

More on Ciena's FQ2: The company expects FQ3 revenue of $455M-$485M, in-line with a $471.1M consensus. In spite of revenue increase, FQ2 gross margin fell 170 bps Y/Y to 39.6%. Optical transmission gear made up 2/3 of revenue, whereas optical switches and carrier Ethernet switches each made up less than 7%. With 29% of Ciena's float shorted as of May 15, and shares down sharply in recent weeks, a short squeeze could occur. CIEN +5.2%. JDSU +1.5%. FNSR +1.4%. (PR)
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