Ciena Non-GAAP EPS of $0.47 beats by $0.02, revenue of $844.44M in-line

• Ciena press release (NYSE:CIEN): Q1 Non-GAAP EPS of $0.47 beats by $0.02.
• Revenue of $844.44M (+11.5% Y/Y) in-line.
• Adj. gross margin of 46.2% vs 48% in last year's quarter.
• Cash flow used in operations totaled $54.4 million.
• Cash and investments totaled $1.7 billion.
• The company entered into a $250 million accelerated share repurchase ("ASR") arrangement during the first quarter of fiscal 2022 under its new share repurchase program. The final settlement of the ASR was completed in the second quarter of fiscal 2022 with approximately 3.6 million shares repurchased.
• Shares -2.05% PM