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Ciena Corporation (CIEN)

  • Oct. 9, 2013, 12:00 PM
    • Adtran (ADTN -13.3%) guides on its Q3 CC for Q4 revenue to drop by a high single-digit to low-teen percentage Q/Q; that's worse than a consensus for a 7% decline.
    • Shares have nosedived on the guidance after trading higher earlier today in response to the telecom equipment vendor's Q3 beat.
    • Several other telecom equipment firms are also seeing sizable declines on a down day for tech, as are some component/chip suppliers. CIEN -4.3%. JDSU -3.9%. FNSR -4.5%. JNPR -2.8%. AMCC -3.8%. DRWI -4.7%. RVBD -3.3%.
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  • Sep. 4, 2013, 9:29 AM
    • Ciena (CIEN) expects FQ4 revenue of $550M-$580M, mostly above a $551.4M consensus.
    • Sales of integrated Ethernet switching/optical networking gear (Converged Packet Optical) rose 3% Q/Q and 23% Y/Y in FQ3, and made up 56% of revenue. That could be a positive for Cyan (CYNI - previous).
    • Ethernet switch sales (packet networking) +14% Q/Q and +104% Y/Y, and now 11% of revenue. Optical transport hardware +15% Q/Q but -26% Y/Y, and 12% of revenue. Software/services +7% Q/Q and +1% Y/Y, and 20% of revenue.
    • As Cisco and Juniper can vouch, demand for metro/edge networking hardware (such as Ciena's converged packet optical gear and Ethernet switches) has been strong lately.
    • Gross margin was 43.6%, +110 bps Q/Q and +400 bps Y/Y, and reversing FQ2's Q/Q decline. It's expected to be in the low-40s in FQ4. Opex -3.5% Q/Q and only +8% Y/Y,  op. margin jumped to 8.2% from 3.7% in FQ2.
    • International customers made up 37% of revenue vs. 43% in FQ2. Two customers (possibly AT&T/Verizon) accounted for 31.8% of revenue, nearly even with FQ2.
    • Infinera (INFN) +6.9%, JDS Uniphase (JDSU) +2.5% and Finisar (FNSR) +2.8% in sympathy.
    • Ciena also jumped following its FQ2 results. Needham's July call was on the mark.
    • FQ3 results, PR
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  • Sep. 4, 2013, 7:03 AM
    • Ciena (CIEN): FQ1 EPS of $0.23 beats by $0.07.
    • Revenue of $538.4M beats by $5.41M. (PR)
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  • Sep. 4, 2013, 12:05 AM
  • Sep. 3, 2013, 5:30 PM
  • Aug. 6, 2013, 5:20 PM
    • Finisar (FNSR) expects FQ1 (July quarter) revenue of $266M and EPS of $0.30-$0.31, above guidance of $245M-$260M and $0.22-$0.26, and a consensus of $253.6M and $0.24.
    • The optical component vendor mostly attributes its performance to "increased sales of 10G, 40G and 100G Ethernet transceivers for datacom applications." Demand for 10G data center hardware and 100G carrier optical networking gear has been growing rapidly. Telecom sales rose by $2M Q/Q.
    • Though Finisar is halted, other industry names are up in AH trading. JDSU +4.4%. CIEN +2.8%. Other names that might rally in sympathy: INFN, NPTN, AFOP, OPLK, OCLR.
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  • Jun. 19, 2013, 4:28 PM
    Finisar (FNSR) +8.9% AH following its FQ4 beat. FQ1 guidance is for revenue of revenue of $245M-$260M and EPS of $0.22-$0.26, mostly above a consensus of $248.9M and $0.20. A 150 bps Q/Q increase in gross margin to 32.2%, caused by a favorable mix, contributed to the EPS beat. Finisar says it's seeing strong demand for 10G/100G Ethernet components for datacom gear - 10G is being rapidly adopted in data centers, and some firms are starting to embrace 100G. Opex +4% Y/Y. a little above rev. growth of 2%. JDSU +3%, NPTN +4.3%, and CIEN +1% in sympathy. FN, OCLR, and OPLK could also rally. CC at 5PM ET (webcast). (PR)
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  • Jun. 6, 2013, 9:26 AM
    Ciena (CIEN) +11.9% thanks to its FQ2 beat, which follows months of investor fretting over telecom capex. FQ3 guidance is for revenue of $515M-$545M, above a $509.5M consensus. Ciena sacrificed margins a bit - while revenue rose 12% Q/Q, gross margin fell 210 bps to 42.5% - but given the size of its revenue beat, investors don't mind. Sales of integrated Ethernet/optical networking hardware (Ciena is a leader here and recently announced a refresh) +10% Y/Y and 57% of revenue. Ethernet switches +91% and now 11% of revenue; optical networking -32%, software/services +3%. Two customers (AT&T/Verizon?) made up 31% of sales. INFN +6.7%. JDSU +5.1%. FNSR +5.9%. JNPR +2.5%. ALU +4.2%. SONS +3.8%. (PR)
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  • Jun. 6, 2013, 7:08 AM
    Ciena (CIEN): FQ2 EPS of $0.02 beats by $0.03. Revenue of $507.7M beats by $24.36M. (PR)
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  • Jun. 6, 2013, 12:05 AM
    Notable earnings before Thursday’s open: ANN, BRLI, CIEN, FGP, SJM, TITN
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  • Jun. 5, 2013, 5:30 PM
    Notable earnings before Thursday’s open: ANN, BRLI, CIEN, FGP, SJM, TITN
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  • May 15, 2013, 5:00 PM
    Cisco (CSCO) guides on FQ3 call (webcast) for FQ4 EPS of $0.50-$0.52 and revenue growth of 4%-7%, which compares with a consensus of $0.51 and 6.9%. Revenue growth will take a 1% hit from the Linksys sale. Gross margin is expected to drop to 61%-62% from FQ3's 63%. Shares +7.9% AH. JNPR +1.6%. BRCD +1.1% CIEN +1.5%.
    | 1 Comment
  • Apr. 25, 2013, 10:17 AM
    A Q1 beat and strong 2013 guidance lead Infinera (INFN +22.8%) to surge to 52-week highs. Industry peers are up in sympathy, a day after many declined thanks to AT&T: CIEN +3%. FNSR +2.8%. JDSU +1.5%. ADTN +2.2%. CALX +1.5%. On its earnings call, Infinera guided for Q2 revenue of $130M-$140M and EPS of -$0.04 to $0.01, above a consensus of $124.3M and -$0.05. Gross margin (an issue going in) is expected to rise to 37%-39% from Q1's 36%. 2013 revenue growth is now pegged at the the high end of a guidance range of 10%-20% (consensus is 17%). Purchase commitments for the advanced DTN-X optical transmission system grew by 6 to 27. Needham has upgraded shares to Buy.
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  • Mar. 7, 2013, 9:18 AM
    Ciena (CIEN) +13.9% following its FQ1 beat, which is adding fresh fuel to hopes of improving telecom capex. FQ2 guidance is for revenue of $465M-$495M, in-line with a $482.1M consensus. Gross margin was 44.6%, +190 bps Q/Q and +270 bps Y/Y. Expected to be in low-40s in FQ2. Sales of integrated Ethernet/optical networking gear (53% of revenue) +18% Y/Y. Ethernet switches +113%, optical transport -47%. Opex roughly flat. 2 customers made up 26% of sales. Shares remain well below early 2011 levels, and even further below 2007 levels. (PR)
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  • Mar. 7, 2013, 8:46 AM
    Ciena (CIEN) +15% premarket after swinging to a surprise non-GAAP profit. CEO Gary Smith notes market dynamics are "increasingly aligned with our strategy and competitive strengths." Gross margin increased to 43.2% from 40.3%, notwithstanding input cost increases. Telecom-equipment stocks have struggled with a shrinking customer base and weak spending; CIEN's investments in next-generation technology may be paying off.
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  • Mar. 7, 2013, 7:08 AM
    Ciena (CIEN): FQ1 EPS of $0.12 beats by $0.26. Revenue of $453.1M (+8.7% Y/Y) beats by $4.83M. (PR)
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Company Description
Ciena Corp is a provider of equipment, software and service solutions that support the transport, switching, aggregation and management of voice, video and data traffic on communications networks.