We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ciena Corporation | NYSE:CIEN | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.01 | 0.02% | 49.44 | 50.25 | 49.11 | 49.60 | 1,267,434 | 01:00:00 |
Ciena® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal fourth quarter and year ended October 31, 2020.
"Our fiscal fourth quarter and full-year 2020 performance reported today demonstrates that we have the innovation, diversification and global scale to perform well in a challenging environment," said Gary Smith, President and CEO, Ciena. "While we expect current market conditions to persist in the near-term, we are confident in strong secular demand dynamics and our ability to continue to outperform the market."
For the fiscal fourth quarter 2020, Ciena reported revenue of $828.5 million as compared to $968.0 million for the fiscal fourth quarter 2019. For fiscal year 2020, Ciena reported revenue of $3.53 billion, as compared to $3.57 billion for fiscal year 2019.
Ciena's GAAP net income for the fiscal fourth quarter 2020 was $65.0 million or $0.42 per diluted common share, which compares to a GAAP net income of $80.3 million, or $0.51 per diluted common share, for the fiscal fourth quarter 2019. For fiscal year 2020, Ciena's GAAP net income was $361.3 million, or $2.32 per diluted common share, as compared to a GAAP net income of $253.4 million, or $1.61 per diluted common share for fiscal year 2019.
Ciena's adjusted (non-GAAP) net income for the fiscal fourth quarter 2020 was $94.5 million, or $0.60 per diluted common share, which compares to an adjusted (non-GAAP) net income of $90.4 million, or $0.58 per diluted common share, for the fiscal fourth quarter 2019. For fiscal year 2020, Ciena's adjusted (non-GAAP) net income was $460.1 million, or $2.95 per diluted common share, as compared to an adjusted (non-GAAP) net income of $331.8 million, or $2.11 per diluted common share for fiscal year 2019.
Performance Summary for the Fiscal Fourth Quarter and the Year Ended October 31, 2020
The tables below (in millions, except percentage data) provide comparisons of certain quarterly and annual results to the prior year. Appendices A and B set forth reconciliations between the GAAP and adjusted (non-GAAP) measures contained in this release.
GAAP Results (unaudited)
Quarter Ended
Period Change
Year Ended
Period Change
October 31, 2020
November 2, 2019
Y-T-Y*
October 31, 2020
November 2, 2019
Y-T-Y*
Revenue
$
828.5
$
968.0
(14.4
)%
$
3,532.2
$
3,572.1
(1.1
)%
Gross margin
48.8
%
43.4
%
5.4
%
46.8
%
43.2
%
3.6
%
Operating expense
$
310.9
$
326.5
(4.8
)%
$
1,165.9
$
1,195.3
(2.5
)%
Operating margin
11.3
%
9.6
%
1.7
%
13.8
%
9.7
%
4.1
%
Non-GAAP Results (unaudited)
Quarter Ended
Period Change
Year Ended
Period Change
October 31, 2020
November 2, 2019
Y-T-Y*
October 31, 2020
November 2, 2019
Y-T-Y*
Revenue
$
828.5
$
968.0
(14.4
)%
$
3,532.2
$
3,572.1
(1.1
)%
Adj. gross margin
49.5
%
43.8
%
5.7
%
47.4
%
43.7
%
3.7
%
Adj. operating expense
$
278.9
$
295.3
(5.6
)%
$
1,055.3
$
1,091.8
(3.3
)%
Adj. operating margin
15.8
%
13.3
%
2.5
%
17.6
%
13.1
%
4.5
%
Adj. EBITDA
$
154.5
$
151.6
1.9
%
$
713.9
$
557.3
28.1
%
* Denotes % change, or in the case of margin, absolute change
Revenue by Segment (unaudited)
Quarter Ended
October 31, 2020
November 2, 2019
Revenue
%**
Revenue
% **
Networking Platforms
Converged Packet Optical
$
579.3
69.9
$
665.8
68.8
Packet Networking
$
56.0
6.8
131.9
13.6
Total Networking Platforms
$
635.3
76.7
797.7
82.4
Platform Software and Services
$
54.5
6.6
41.2
4.3
Blue Planet Automation Software and Services
$
20.9
2.5
16.6
1.7
Global Services
Maintenance Support and Training
$
67.0
8.1
65.3
6.7
Installation and Deployment
$
43.0
5.2
36.5
3.8
Consulting and Network Design
$
7.8
0.9
10.7
1.1
Total Global Services
$
117.8
14.2
112.5
11.6
Total
$
828.5
100.0
$
968.0
100.0
Revenue by Segment (unaudited)
Year Ended
October 31, 2020
November 2, 2019
Revenue
%**
Revenue
% **
Networking Platforms
Converged Packet Optical
$
2,547.6
72.1
$
2,562.8
71.8
Packet Networking
267.5
7.6
348.5
9.8
Total Networking Platforms
2,815.1
79.7
2,911.3
81.6
Platform Software and Services
197.8
5.6
155.3
4.3
Blue Planet Automation Software and Services
62.6
1.8
54.6
1.5
Global Services
Maintenance Support and Training
269.4
7.6
261.3
7.3
Installation and Deployment
152.0
4.3
148.2
4.1
Consulting and Network Design
35.3
1.0
41.4
1.2
Total Global Services
456.7
12.9
450.9
12.6
Total
$
3,532.2
100.0
$
3,572.1
100.0
Additional Performance Metrics for Fiscal Fourth Quarter and Year Ended October 31, 2020
Revenue by Geographic Region (unaudited)
Quarter Ended
October 31, 2020
November 2, 2019
Revenue
% **
Revenue
% **
Americas
$
531.6
64.2
$
715.7
73.9
Europe, Middle East and Africa
157.6
19.0
153.0
15.8
Asia Pacific
139.3
16.8
99.3
10.3
Total
$
828.5
100.0
$
968.0
100.0
Revenue by Geographic Region (unaudited)
Year Ended
October 31, 2020
November 2, 2019
Revenue
% **
Revenue
% **
Americas
$
2,469.3
69.9
$
2,503.9
70.1
Europe, Middle East and Africa
591.5
16.8
566.7
15.9
Asia Pacific
471.4
13.3
501.5
14.0
Total
$
3,532.2
100.0
$
3,572.1
100.0
** Denotes % of total revenue
Share Repurchase Program
After temporarily suspending repurchases of our common stock during fiscal 2020, we will be reinstituting this program in first quarter of 2021 and are currently targeting repurchases in the range of $150 million during fiscal 2021. Ciena may purchase shares at management's discretion in the open market, in privately negotiated transactions, in transactions structured through investment banking institutions, or a combination of the foregoing. Ciena may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its shares under this authorization. The amount and timing of repurchases are subject to a variety of factors including liquidity, cash flow, stock price, and general business and market conditions. The program may be modified, suspended or discontinued at any time. During fiscal year 2020, Ciena repurchased approximately 1.9 million shares of its common stock at an average price of $39.81 per share for an aggregate purchase price of $74.5 million.
Supplemental Materials and Live Web Broadcast of Unaudited Fiscal Fourth Quarter 2020 Results
Today, Thursday, December 10, 2020, in conjunction with this announcement, Ciena has posted to the Quarterly Results page of the Investor Relations section of its website certain related supporting materials for its unaudited fiscal fourth quarter and fiscal 2020 results.
Ciena's management will also host a discussion today with investors and financial analysts that will include the Company's outlook. The live audio web broadcast beginning at 8:30 a.m. Eastern will be accessible via www.ciena.com. An archived replay of the live broadcast will be available shortly following its conclusion on the Investor Relations page of Ciena's website.
Notes to Investors
Forward-Looking Statements. You are encouraged to review the Investors section of our website, where we routinely post press releases, SEC filings, recent news, financial results, supplemental financial information, and other announcements. From time to time we exclusively post material information to this website along with other disclosure channels that we use. This press release contains certain forward-looking statements that involve risks and uncertainties. These statements are based on current expectations, forecasts, assumptions and other information available to the Company as of the date hereof. Forward-looking statements include statements regarding Ciena's expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words. Forward-looking statements in this release include: "Our fiscal fourth quarter and full-year year 2020 performance reported today demonstrates that we have the innovation, diversification and global scale to perform well in a challenging environment." "While we expect current market conditions to persist in the near-term, we are confident in strong secular demand dynamics and our ability to continue to outperform the market."
Ciena's actual results, performance or events may differ materially from these forward-looking statements made or implied due to a number of risks and uncertainties relating to Ciena's business, including: the effect of broader economic and market conditions on our customers and their business; our ability to execute our business and growth strategies; the duration and severity of the COVID-19 pandemic and the impact of countermeasures taken to mitigate its spread; the impact of COVID-19 on macroeconomic conditions, the level of economic activity, demand for our technology solutions, short- and long-term customer or end user needs and changes thereto, continuity of supply chain, logistics and business operations, liquidity and financial results; changes in network spending or network strategy by customers; seasonality and the timing and size of customer orders, including our ability to recognize revenue relating to such sales; the level of competitive pressure we encounter; the product, customer and geographic mix of sales within the period; supply chain disruptions and the level of success relating to efforts to optimize Ciena's operations; changes in foreign currency exchange rates affecting revenue and operating expense; the impact of the Tax Cuts and Jobs Act, changes in estimates of prospective income tax rates and any adjustments to Ciena's provisional estimates whether related to further guidance, analysis or otherwise, and the other risk factors disclosed in Ciena's periodic reports filed with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q filed with the SEC on September 9, 2020 and its Annual Report on Form 10-K to be filed with the SEC. Ciena assumes no obligation to update any forward-looking information included in this press release.
Non-GAAP Presentation of Quarterly and Annual Results. This release includes non-GAAP measures of Ciena's gross profit, operating expense, income from operations, earnings before interest, tax, depreciation and amortization (EBITDA), Adjusted EBITDA, and measures of net income and net income per share. In evaluating the operating performance of Ciena's business, management excludes certain charges and credits that are required by GAAP. These items share one or more of the following characteristics: they are unusual and Ciena does not expect them to recur in the ordinary course of its business; they do not involve the expenditure of cash; they are unrelated to the ongoing operation of the business in the ordinary course; or their magnitude and timing is largely outside of Ciena's control. Management believes that the non-GAAP measures below provide management and investors useful information and meaningful insight to the operating performance of the business. The presentation of these non-GAAP financial measures should be considered in addition to Ciena's GAAP results and these measures are not intended to be a substitute for the financial information prepared and presented in accordance with GAAP. Ciena's non-GAAP measures and the related adjustments may differ from non-GAAP measures used by other companies and should only be used to evaluate Ciena's results of operations in conjunction with our corresponding GAAP results. To the extent not previously disclosed in a prior Ciena financial results press release for the relevant period, Appendix A and B to this press release set forth a complete GAAP to non-GAAP reconciliation of the non-GAAP measures contained in this release.
About Ciena. Ciena (NYSE: CIEN) is a networking systems, services and software company. We provide solutions that help our clients create the Adaptive Network™ in response to the constantly changing demands of their users. By delivering best-in-class networking technology through high-touch consultative relationships, we build the world’s most agile networks with automation, openness and scale. For updates on Ciena, follow us on Twitter @Ciena, LinkedIn, the Ciena Insights blog, or visit www.ciena.com.
CIENA CORPORATION
CONDENSED UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Quarter Ended
Year Ended
October 31, 2020
November 2, 2019
October 31, 2020
November 2, 2019
Revenue:
Products
$
668,661
$
820,007
$
2,914,790
$
2,983,815
Services
159,819
147,980
617,367
588,316
Total revenue
828,480
967,987
3,532,157
3,572,131
Cost of goods sold:
Products
343,413
469,945
1,573,791
1,716,358
Services
80,718
78,346
305,475
313,707
Total cost of goods sold
424,131
548,291
1,879,266
2,030,065
Gross profit
404,349
419,696
1,652,891
1,542,066
Operating expenses:
Research and development
137,237
141,657
529,888
548,139
Selling and marketing
113,382
117,201
416,425
423,046
General and administrative
43,415
50,307
169,548
174,399
Amortization of intangible assets
5,851
5,222
23,383
21,808
Acquisition and integration costs (recoveries)
3,127
(735
)
4,031
3,370
Significant asset impairments and restructuring costs
7,854
12,842
22,652
24,538
Total operating expenses
310,866
326,494
1,165,927
1,195,300
Income from operations
93,483
93,202
486,964
346,766
Interest and other income (loss), net
(249
)
(1,183
)
964
3,876
Interest expense
(7,395
)
(9,136
)
(31,321
)
(37,452
)
Loss on extinguishment and modification of debt
—
—
(646
)
—
Income before income taxes
85,839
82,883
455,961
313,190
Provision for income taxes
20,798
2,552
94,670
59,756
Net income
$
65,041
$
80,331
$
361,291
$
253,434
Net Income per Common Share
Basic net income per common share
$
0.42
$
0.52
$
2.34
$
1.63
Diluted net income per potential common share
$
0.42
$
0.51
$
2.32
$
1.61
Weighted average basic common shares outstanding
154,706
154,852
154,287
155,720
Weighted average diluted potential common shares outstanding(1)
156,563
156,612
155,955
157,612
(1) Weighted average diluted potential common shares outstanding used in calculating GAAP diluted net income per potential common share for the fourth quarter of fiscal 2020 includes 1.9 million shares underlying certain stock option and stock unit awards.
Weighted average diluted potential common shares outstanding used in calculating GAAP diluted net income per potential common share for fiscal 2020 includes 1.7 million shares underlying certain stock option and stock unit awards.
Weighted average diluted potential common shares outstanding used in calculating GAAP diluted net income per potential common share for the fourth quarter of fiscal 2019 includes 1.8 million shares underlying certain stock option and stock unit awards.
Weighted average diluted potential common shares outstanding used in calculating GAAP diluted net income per potential common share for fiscal 2019 includes 1.9 million shares underlying certain stock option and stock unit awards.
CIENA CORPORATION
CONDENSED UNAUDITED CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)
October 31, 2020
November 2, 2019
ASSETS
Current assets:
Cash and cash equivalents
$
1,088,624
$
904,045
Short-term investments
150,667
109,940
Accounts receivable, net
719,405
724,854
Inventories
344,379
345,049
Prepaid expenses and other
308,084
297,914
Total current assets
2,611,159
2,381,802
Long-term investments
82,226
10,014
Equipment, building, furniture and fixtures, net
272,377
286,884
Operating lease right-of-use assets
57,026
—
Goodwill
310,847
297,937
Other intangible assets, net
96,647
112,781
Deferred tax asset, net
647,805
714,942
Other long-term assets
102,830
88,986
Total assets
$
4,180,917
$
3,893,346
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable
$
291,904
$
344,819
Accrued liabilities and other short-term obligations
334,132
382,740
Deferred revenue
108,700
111,381
Operating lease liabilities
19,035
—
Current portion of long-term debt
6,930
7,000
Total current liabilities
760,701
845,940
Long-term deferred revenue
49,663
45,492
Other long-term obligations
123,185
148,747
Long-term operating lease liabilities
61,415
—
Long-term debt, net
676,356
680,406
Total liabilities
$
1,671,320
$
1,720,585
Stockholders’ equity:
Preferred stock — par value $0.01; 20,000,000 shares authorized; zero shares issued and outstanding
—
—
Common stock — par value $0.01; 290,000,000 shares authorized; 154,563,005 and 154,403,850 shares issued and outstanding
1,546
1,544
Additional paid-in capital
6,826,531
6,837,714
Accumulated other comprehensive loss
(35,358
)
(22,084
)
Accumulated deficit
(4,283,122
)
(4,644,413
)
Total stockholders’ equity
2,509,597
2,172,761
Total liabilities and stockholders’ equity
$
4,180,917
$
3,893,346
CIENA CORPORATION
CONDENSED UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Year Ended
October 31, 2020
November 2, 2019
Cash flows from operating activities:
Net income
$
361,291
$
253,434
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of equipment, furniture and fixtures, and amortization of leasehold improvements
93,908
87,576
Share-based compensation costs
67,758
59,736
Amortization of intangible assets
38,619
35,136
Deferred taxes
64,339
19,865
Provision for doubtful accounts
8,855
6,740
Provision for inventory excess and obsolescence
24,701
28,085
Provision for warranty
22,417
23,105
Other
11,628
(910
)
Changes in assets and liabilities:
Accounts receivable
(17,299
)
65,712
Inventories
(25,044
)
(112,941
)
Prepaid expenses and other
(38,998
)
(96,618
)
Operating lease right-of-use assets
16,787
—
Accounts payable, accruals and other obligations
(117,931
)
27,740
Deferred revenue
2,519
16,480
Short and long-term operating lease liabilities
(19,896
)
—
Net cash provided by operating activities
493,654
413,140
Cash flows provided by (used in) investing activities:
Payments for equipment, furniture, fixtures and intellectual property
(82,667
)
(62,579
)
Purchase of available for sale securities
(223,196
)
(158,074
)
Proceeds from maturities of available for sale securities
110,390
248,748
Settlement of foreign currency forward contracts, net
3,531
(1,351
)
Purchase of equity investment
—
(2,667
)
Acquisition of businesses, net of cash acquired
(28,300
)
—
Net cash provided by (used in) investing activities
(220,242
)
24,077
Cash flows from financing activities:
Payment of long-term debt
(5,198
)
(7,000
)
Payment for debt conversion liability
—
(111,268
)
Payment of debt issuance costs
(382
)
(1,191
)
Payment of finance lease obligations
(2,703
)
(3,319
)
Shares repurchased for tax withholdings on vesting of restricted stock units
(32,472
)
(29,059
)
Repurchases of common stock - repurchase program
(74,535
)
(150,076
)
Proceeds from issuance of common stock
28,068
22,947
Net cash used in financing activities
(87,222
)
(278,966
)
Effect of exchange rate changes on cash, cash equivalents and restricted cash
(1,643
)
476
Net increase in cash, cash equivalents and restricted cash
184,547
158,727
Cash, cash equivalents and restricted cash at beginning of fiscal year
904,161
745,434
Cash, cash equivalents and restricted cash at end of fiscal year
$
1,088,708
$
904,161
Supplemental disclosure of cash flow information
Cash paid during the fiscal year for interest
$
32,837
$
39,579
Cash paid during the fiscal year for income taxes, net
$
53,076
$
33,570
Operating lease payments
$
22,089
$
—
Non-cash investing and financing activities
Purchase of equipment in accounts payable
$
7,854
$
16,549
Conversion of debt conversion liability into 1,585,140 shares of common stock
$
—
$
52,944
Operating lease right-of-use assets subject to lease liability
$
24,160
$
—
Unrealized gain on equity investment
$
2,681
$
—
APPENDIX A - Reconciliation of Adjusted (Non-GAAP) Measurements (unaudited)
Quarter Ended
Year Ended
October 31, 2020
November 2, 2019
October 31, 2020
November 2, 2019
Gross Profit Reconciliation (GAAP/non-GAAP)
GAAP gross profit
$
404,349
$
419,696
$
1,652,891
$
1,542,066
Share-based compensation-products
724
748
3,182
2,868
Share-based compensation-services
968
715
3,853
3,175
Amortization of intangible assets
3,732
3,303
15,235
13,327
Total adjustments related to gross profit
5,424
4,766
22,270
19,370
Adjusted (non-GAAP) gross profit
$
409,773
$
424,462
$
1,675,161
$
1,561,436
Adjusted (non-GAAP) gross profit percentage
49.5
%
43.8
%
47.4
%
43.7
%
Operating Expense Reconciliation (GAAP/non-GAAP)
GAAP operating expense
$
310,866
$
326,494
$
1,165,927
$
1,195,300
Share-based compensation-research and development
4,030
3,287
16,987
14,321
Share-based compensation-sales and marketing
5,137
4,151
20,194
16,474
Share-based compensation-general and administrative
5,982
6,425
23,424
22,841
Amortization of intangible assets
5,851
5,222
23,383
21,808
Acquisition and integration costs (recoveries)
3,127
(735
)
4,031
3,370
Significant asset impairments and restructuring costs
7,854
12,842
22,652
24,538
Legal settlements
—
—
—
137
Total adjustments related to operating expense
$
31,981
$
31,192
$
110,671
$
103,489
Adjusted (non-GAAP) operating expense
$
278,885
$
295,302
$
1,055,256
$
1,091,811
Income from Operations Reconciliation (GAAP/non-GAAP)
GAAP income from operations
$
93,483
$
93,202
$
486,964
$
346,766
Total adjustments related to gross profit
5,424
4,766
22,270
19,370
Total adjustments related to operating expense
31,981
31,192
110,671
103,489
Total adjustments related to income from operations
37,405
35,958
132,941
122,859
Adjusted (non-GAAP) income from operations
$
130,888
$
129,160
$
619,905
$
469,625
Adjusted (non-GAAP) operating margin percentage
15.8
%
13.3
%
17.6
%
13.1
%
Net Income Reconciliation (GAAP/non-GAAP)
GAAP net income
$
65,041
$
80,331
$
361,291
$
253,434
Exclude GAAP provision for income taxes
20,798
2,552
94,670
59,756
Income before income taxes
85,839
82,883
455,961
313,190
Total adjustments related to income from operations
37,405
35,958
132,941
122,859
Loss on extinguishment and modification of debt
—
—
646
—
Unrealized gain on equity investment
(2,681
)
—
(2,681
)
—
Adjusted income before income taxes
120,563
118,841
586,867
436,049
Non-GAAP tax provision on adjusted income before income taxes
26,042
28,403
126,763
104,216
Adjusted (non-GAAP) net income
$
94,521
$
90,438
$
460,104
$
331,833
Weighted average basic common shares outstanding
154,706
154,852
154,287
155,720
Weighted average diluted potential common shares outstanding(1)
156,563
156,612
155,955
157,612
Net Income per Common Share
GAAP diluted net income per potential common share
$
0.42
$
0.51
$
2.32
$
1.61
Adjusted (non-GAAP) diluted net income per potential common share
$
0.60
$
0.58
$
2.95
$
2.11
(1) Weighted average diluted potential common shares outstanding used in calculating Adjusted (non-GAAP) diluted net income per potential common share for the fourth quarter of fiscal 2020 includes 1.9 million shares underlying certain stock option and stock unit awards.
Weighted average diluted potential common shares outstanding used in calculating adjusted (non-GAAP) diluted net income per potential common share for fiscal 2020 includes 1.7 million shares underlying certain stock option and stock unit awards.
Weighted average diluted potential common shares outstanding used in calculating Adjusted (non-GAAP) diluted net income per potential common share for the fourth quarter of fiscal 2019 includes 1.8 million shares underlying certain stock option and stock unit awards.
Weighted average diluted potential common shares outstanding used in calculating adjusted (non-GAAP) diluted net income per potential common share for fiscal 2019 includes 1.9 million shares underlying certain stock option and stock unit awards.
APPENDIX B - Calculation of EBITDA and Adjusted EBITDA (unaudited)
Quarter Ended
Year Ended
October 31, 2020
November 2, 2019
October 31, 2020
November 2, 2019
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA)
Net income (GAAP)
$
65,041
$
80,331
$
361,291
$
253,434
Add: Interest expense
7,395
9,136
31,321
37,452
Less: Interest and other income (loss), net
(249
)
(1,183
)
964
3,876
Add: Loss on extinguishment and modification of debt
—
—
(646
)
—
Add: Provision for income taxes
20,798
2,552
94,670
59,756
Add: Depreciation of equipment, building, furniture and fixtures, and amortization of leasehold improvements
23,538
22,505
93,908
87,576
Add: Amortization of intangible assets
9,584
8,525
38,619
35,136
EBITDA
$
126,605
$
124,232
$
619,491
$
469,478
Add: Share-based compensation cost
16,920
15,290
67,758
59,736
Add: Significant asset impairments and restructuring costs
7,854
12,842
22,652
24,538
Add: Acquisition and integration costs (recoveries)
3,127
(735
)
4,031
3,370
Add: Legal settlement
—
—
—
137
Adjusted EBITDA
$
154,506
$
151,629
$
713,932
$
557,259
The adjusted (non-GAAP) measures above and their reconciliation to Ciena's GAAP results for the periods presented reflect adjustments relating to the following items:
View source version on businesswire.com: https://www.businesswire.com/news/home/20201210005427/en/
Press: Nicole Anderson Ciena Corporation +1 (410) 694-5761 pr@ciena.com
Investors: Gregg Lampf Ciena Corporation +1 (410) 694-5700 ir@ciena.com
1 Year Ciena Chart |
1 Month Ciena Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions