Friday, 05 March 2021 17:28

Ciena reports ‘solid revenue, profitability’ for first quarter 2021 Featured

By
Ciena president and CEO Gary Smith Ciena president and CEO Gary Smith

Global networking systems, services and software company Ciena has reported first quarter 2021 revenue of US$757.1 million, compared to US$832.9 million for the fiscal first quarter last year.

Other results revealed that:

  • Ciena's GAAP net income for the fiscal first quarter 2021 was $55.3 million, or $0.35 per diluted common share, which compares to a GAAP net income of $62.3 million, or $0.40 per diluted common share, for the fiscal first quarter 2020.
  • Ciena's adjusted (non-GAAP) net income for the fiscal first quarter 2021 was $81.3 million, or $0.52 per diluted common share, which compares to an adjusted (non-GAAP) net income of $81.7 million, or $0.52 per diluted common share, for the fiscal first quarter 2020.

Releasing the quarterly report on Friday, Ciena (NYSE: CIEN) president and CEO Gary Smith said the company had delivered “solid revenue and profitability in the first fiscal quarter in the face of continued challenging market conditions and a dynamic industry environment,"

"Our strong market position has enabled us to start the year largely as expected, and we are leveraging our innovation leadership and competitive advantage to deliver on our long-term growth opportunities."

To view Ciena’s Fiscal First Quarter 2021 Financial Results report click here.


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Peter Dinham

Peter Dinham - an iTWire treasure is a mentor and coach who volunteers also a writer and much valued founding partner of iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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