Dubai, UAE - 6 March 2019: Ciena® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal first quarter ended January 31, 2019.
• Q1 Revenue: $778.5 million, increasing 20.5% year over year
• Q1 Net Income per Share: $0.21 GAAP; $0.33 adjusted (non-GAAP)
• Share Repurchases: Repurchased approximately 0.6 million shares of common stock for an aggregate price of $21.2 million during the quarter
“We began fiscal 2019 with a very strong first quarter performance, including outstanding top and bottom line growth as well as continued market share gains,” said Gary B. Smith, president and CEO, Ciena. “We believe that the combination of our leading innovation and positive industry dynamics will enable us to further extend our leadership position.”
For the fiscal first quarter 2019, Ciena reported revenue of $778.5 million as compared to $646.1 million for the fiscal first quarter 2018.
Ciena's GAAP net income for the fiscal first quarter 2019 was $33.6 million, or $0.21 per diluted common share, which compares to a GAAP net loss of $(473.4) million, or $(3.29) per diluted common share, for the fiscal first quarter 2018.
Ciena's adjusted (non-GAAP) net income for the fiscal first quarter 2019 was $52.8 million, or $0.33 per diluted common share, which compares to an adjusted (non-GAAP) net income of $21.9 million, or $0.15 per diluted common share, for the fiscal first quarter 2018.