Ciena Corporation (CIEN) - NYSE
  • Mar. 5, 2015, 6:33 PM
    • Though Ciena (NYSE:CIEN) soundly missed FQ1 revenue estimates, it's guiding for FQ2 revenue of $585M-$615M, in-line with a $597.2M consensus. Meanwhile, EPS beat estimates thanks to a 620 bps Q/Q and 70 bps Y/Y increase in gross margin to 44.1% (favorable to guidance for a low-40s GM).
    • FY15 (ends Oct. '15) revenue growth guidance is now at 5%, below a 7.9% consensus. However, guidance would still be at 7%-9% if not for forex.
    • Investors took the numbers in stride; Ciena closed up 0.2%. However, shares are up 1.7% AH thanks to optical component supplier Finisar's strong April quarter guidance.
    • On the CC (transcript), the FQ1 sales miss was blamed on both forex and the timing of U.S. federal orders - they're now expected  to arrive in FQ2 and FQ3. The gross margin growth was attributed to cost cuts and a mix shift towards software and "certain kinds of metro [systems] where you’ve got high packet and switching capabilities built into the platform." FQ2 GM guidance is at 42%-43%.
    • Also: CEO Gary B. Smith stated Ciena thinks it's "very well placed" to win a major Verizon contract for a 100G metro optical buildout, and that it expects a decision soon. In December, Cowen predicted Ciena would be one of two suppliers, and that the deal could be worth $200M-$300M over two years.
    • Packet networking (Ethernet switch) and software/services revenue saw healthy Y/Y growth in FQ1; converged packet optical (integrated Ethernet/optical systems, 63.6% of revenue) grew slightly, and optical transport (now just 4% of revenue) fell sharply. Operating expenses fell 1% Y/Y to $199.8M.
    • FQ1 results, PR
    | Mar. 5, 2015, 6:33 PM
  • Mar. 5, 2015, 7:03 AM
    • Ciena (NYSE:CIEN): FQ1 EPS of $0.12 beats by $0.09.
    • Revenue of $529.16M (-0.9% Y/Y) misses by $29.62M.
    | Mar. 5, 2015, 7:03 AM
  • Mar. 4, 2015, 5:30 PM
    | Mar. 4, 2015, 5:30 PM | 4 Comments
  • Feb. 18, 2015, 3:36 PM
    • Cyan (NYSE:CYNI): Q4 EPS of -$0.15 beats by $0.04.
    • Revenue of $30.5M (+46.1% Y/Y) beats by $0.25M.
    • Shares -1.79%.
    | Feb. 18, 2015, 3:36 PM
  • Feb. 17, 2015, 5:35 PM
  • Feb. 6, 2015, 1:53 PM
    • Cyan (NYSE:CYNI) has gradually soared today on volume of 169K shares (above a 3-month daily average of 126K).
    • No news has hit the wires to explain the move. The packet-optical hardware/SDN software vendor also rose sharply on Tuesday, and is a month removed from hiking its Q4 guidance. Full Q4 results arrive on Feb. 18.
    | Feb. 6, 2015, 1:53 PM
  • Feb. 3, 2015, 1:25 PM
    • Though the Nasdaq is only up 0.4%, a long list of tech firms are posting outsized gains today.
    • It's a good day for online real estate: Merger partners Zillow (Z +5%) and Trulia (TRLA +4.9%) are up sharply, as are Chinese online real estate plays SouFun (SFUN +5.2%), E-House (EJ +6.5%), and Leju (LEJU +3.8%).
    • Other major tech gainers include security software firm Imperva (IMPV +4.7%), gaming headset maker Turtle Beach (HEAR +6.6%), salvage auction site Liquidity Holdings (LQDT +7.4%), RF filter tech developer Resonant (RESN +10.7%), telecom equipment/SDN software vendor Cyan (CYNI +10.1%), Chinese CDN owner ChinaCache (CCIH +10.8%), application delivery controller vendor A10 Networks (ATEN +6.1%), Chinese sports lottery site 500.com (WBAI +7.6%), and unified communications hardware/software firm ShoreTel (SHOR +6.7%).
    • Earlier: Solar stocks soar as oil tops $51, CSIQ strikes deal
    • Earlier: 3D printing stocks routed after Stratasys warns
    | Feb. 3, 2015, 1:25 PM
  • Jan. 30, 2015, 2:56 PM
    • Optical networking/carrier Ethernet hardware vendor Ciena (CIEN -4%), optical component suppliers Finisar (FNSR -2.4%) and Oclaro (OCLR -2%), and telecom chipmakers AppliedMicro (AMCC -5.9%) and Cavium (CAVM -4.4%) are all off after component vendor JDS Uniphase (JDSU -7.4%) missed FQ2 estimates and provided soft FQ3 guidance.
    • On its CC (transcript), JDS observed its FQ2 network enablement (test equipment) and service enablement (telecom software/services) revenue fell a combined 8% Y/Y due to "weaker carrier spending and no budget flush in historically stronger December quarter." Network enablement is expected to remain soft in seasonally weak FQ3 as customers weigh their 2015 spending plans. Service enablement is expected to grow ~24%, after growing 16.6% in FQ2.
    • AppliedMicro is down 10% since providing a soft FQ4 EPS guidance (-$0.09 vs. a -$0.07 pre-earnings consensus) on Tuesday afternoon to go with an FQ3 beat.  Cavium is giving back the gains it saw yesterday after beating Q4 estimates and providing strong Q1 guidance.
    | Jan. 30, 2015, 2:56 PM
  • Jan. 23, 2015, 10:32 AM
    • Infinera (INFN +17.7%) knocked the cover off the ball yesterday afternoon, soundly beating Q4 estimates and issuing strong Q1 guidance on the back of growing demand for its DTN-X optical transmission/switching platform for 100G deployments.
    • Rival Ciena (CIEN +3.7%) and optical component vendors JDS Uniphase (JDSU +2.7%) and Finisar (FNSR +2.3%) are rallying in response. The companies followed equity markets higher yesterday after Verizon guided for its 2015 capex to be slightly above 2014 levels (contrasts with AT&T's planed capex cut).
    • On its CC (transcript), Infinera said it added 10 new invoiced DTN-X customers in Q4 (3 new to Infinera altogether), raising its total to 59, and that nearly half of all DTN-X clients are now opting for the company's Instant Bandwidth rapid provisioning tech. Initial revenue for the Cloud Xpress point-to-point interconnect platform was received in December, and 8 customer commitments have been received to date.
    | Jan. 23, 2015, 10:32 AM
  • Jan. 7, 2015, 12:45 PM
    | Jan. 7, 2015, 12:45 PM | 1 Comment
  • Jan. 7, 2015, 9:58 AM
    • Cyan (NYSE:CYNI) now expects Q4 revenue of $30M-$31M, well above prior guidance of $24M-$26M and a $25.1M consensus.
    • The hike is attributed to "strong demand for [Cyan's] Z-Series packet-optical hardware," which provides integrated optical transmission, switching, and Ethernet functionality, for both "metro and regional 100G and packet applications." Cyan also reiterates its expectation to "convert some of [its] SDN and NFV trials into wins" in 1H15.
    • The company was hit hard in 2013/2014 by soft orders from top customer Windstream, as well as a broader slowdown in North American wireline capex.
    • Full Q4 results are due on Feb. 18. Deep packet inspection hardware vendor Procera has also hiked its guidance this morning.
    | Jan. 7, 2015, 9:58 AM
  • Dec. 24, 2014, 2:40 PM
    | Dec. 24, 2014, 2:40 PM | 6 Comments
  • Dec. 23, 2014, 1:13 PM
    • Cowen's Paul Silverstein believes Verizon will likely select Ciena (CIEN +1.9%) to be a supplier for its upcoming 100G metro optical buildout.
    • Though 100G is increasingly a part of long-haul network upgrades, metro investments are still in their early stages. Verizon stated earlier this year Fujitsu and Tellabs would be among its 100G metro suppliers.
    • Soft demand from North American carriers has been taking a toll on Ciena and many others. Verizon announced last week it has used Ciena's WaveLogic photonic systems to provision its first 200G ultra-long-haul link.
    • Update: Silverstein thinks Ciena will be "one of the two key suppliers" for Verizon's buildout, and that a deal could be worth $200M-$300M over two years. "To be clear, our checks indicate that Verizon has not selected vendors for this 100Gbps metro optical build-out. That said, our checks also indicate that Ciena currently is well in front of the pack..."
    | Dec. 23, 2014, 1:13 PM
  • Dec. 11, 2014, 9:25 AM
    • Though Ciena (NYSE:CIEN) missed FQ4 EPS estimates (while slightly beating on revenue) and offered FQ1 EPS guidance ($540M-$570M) that was below a $566.6M consensus at the midpoint, it guided on its CC for 7%-9% FY15 (ends Oct. '15) revenue growth; consensus is at 7.1%.
    • Also: Gross margin is expected to rebound to the low-40s range in FQ1 after falling 640 bps Q/Q and 290 bps Y/Y in FQ4 to 37.9%. Longer-term, Ciena expects GM to return to the low-to-mid 40s range.
    • Helping Ciena's cause today: Shares were down 29% YTD going into earnings, thanks to worries about weak telecom capex and the margin pressure caused by "up-front incentives" provided to AT&T for its huge Domain 2.0 initiative.
    • Ciena has been trying to lower its dependence on AT&T and other major telcos: "Non-carrier infrastructure" firms (including Internet companies) now make up more than 30% of revenue, and are expected to continue growing their revenue share.
    • FQ4 results, details
    | Dec. 11, 2014, 9:25 AM
  • Dec. 11, 2014, 7:50 AM
    • FQ4 adjusted net loss of $8.2M or $0.08 per share vs. profit of $18.3M or $0.16 one year earlier.
    • Adjusted gross margin of 37.9% vs. 40.8% a year ago.
    • Converged Packet Optical revenue of $383.3M vs. $350.9M a year ago.
    • Packet Networking revenue of $56.4M vs. $61.2M.
    • Optical Transport revenue of $26.5M vs. $52.6M.
    • Software and Services revenue of $124.8M vs. $118.7M.
    • FQ1 revenue expected at $540M-$570M, with adjusted gross margin in the low 40s range, and adjusted operating expense of about $210M.
    • Conference call at 8:30 ET
    • Previously: Ciena misses by $0.21, beats on revenue
    • CIEN -2.7% premarket
    | Dec. 11, 2014, 7:50 AM
  • Dec. 11, 2014, 7:03 AM
    • Ciena (NYSE:CIEN): FQ4 EPS of -$0.08 misses by $0.21.
    • Revenue of $591M (+1.3% Y/Y) beats by $1.56M.
    | Dec. 11, 2014, 7:03 AM | 1 Comment
Company Description
Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Converged Packet Optical, Packet Networking, Optical Transport and Software and Services. The Converged Packet Optical segment develops and sells optical processors,... More
Sector: Technology
Industry: Communication Equipment
Country: United States