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. 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. Your feedback will be used on a non-identifiable basis to help improve your website experience. From time to time we exclusively post material information to this website along with other disclosure channels that we use. In evaluating the operating performance of Ciena's business, management excludes certain charges and credits that are required by GAAP. Ciena's adjusted (non-GAAP) net income for the fiscal fourth quarter 2019 was $90.4 million, or $0.58 per diluted common share, which compares to an adjusted (non-GAAP) net income of $81.0 million, or $0.53 per diluted common share, for the fiscal fourth quarter 2018. 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. Nicole Anderson Despite this dynamic, today’s results reflect the strength and durability of our business model, including continued strong profitability with adjusted operating margin of 15.8% in Q4 and 17.6% for the full fiscal year, which exceeded our forecast. The bottom line beat the Zacks Consensus Estimate by 23 cents. Ciena Corporation CIEN is scheduled to report fourth-quarter fiscal 2020 results (ended Oct 31, 2020) on Dec 10, before the opening bell. 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. Weighted average dilutive potential common shares outstanding used in calculating GAAP diluted net income per common share for fiscal 2019 includes 1.9 million shares underlying certain stock option and stock unit awards. From time to time we exclusively post material information to this website along with other disclosure channels that we use. * Denotes % change, or in the case of margin, absolute change, Blue Planet Automation Software and Services, Additional Performance Metrics for Fiscal Fourth Quarter and Year Ended October 31, 2020. Ciena ® Corporation (NYSE: CIEN) expects to announce its fiscal fourth quarter and year end 2020 financial results on Thursday, December 10, 2020 before the open of the financial markets. Forward-Looking Statements. 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. Adjustments to reconcile net income to net cash provided by operating activities: Loss on fair value of debt conversion liability, Depreciation of equipment, furniture and fixtures, and amortization of leasehold improvements, Provision for inventory excess and obsolescence, Accounts payable, accruals and other obligations, Net cash provided by operating activities, Payments for equipment, furniture, fixtures and intellectual property, Purchase of available for sale securities, Proceeds from maturities of available for sale securities, Settlement of foreign currency forward contracts, net, Acquisition of businesses, net of cash acquired, Net cash provided by (used in) investing activities, Proceeds from issuance of long-term debt, net, Payment for make-whole provision upon conversion of long-term debt, Shares repurchased for tax withholdings on vesting of restricted stock units, Repurchases of common stock - repurchase program, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net increase (decrease) in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash at beginning of fiscal year, Cash, cash equivalents and restricted cash at end of fiscal year, Supplemental disclosure of cash flow information, Cash paid during the fiscal year for interest, Cash paid during the fiscal year for income taxes, net, Non-cash investing and financing activities, Purchase of equipment in accounts payable, Contingent consideration for acquisition of business, Conversion of 3.75% convertible senior notes, due October 15, 2018 (Original) into 3,038,208 shares of common stock, Conversion of 4.0% convertible senior notes, due December 15, 2020 into 9,197,943 shares of common stock, net, Conversion of debt conversion liability into 1,585,140 shares of common stock, APPENDIX A- Reconciliation of Adjusted (Non- GAAP) Measurements (unaudited), Gross Profit Reconciliation (GAAP/non-GAAP), Total adjustments related to gross profit, Adjusted (non-GAAP) gross profit percentage, Operating Expense Reconciliation (GAAP/non-GAAP), Share-based compensation-research and development, Share-based compensation-sales and marketing, Share-based compensation-general and administrative, Total adjustments related to operating expense, Income from Operations Reconciliation (GAAP/non-GAAP), Total adjustments related to income from operations, Adjusted (non-GAAP) income from operations, Adjusted (non-GAAP) operating margin percentage, Net Income (Loss) Reconciliation (GAAP/non-GAAP), Exclude GAAP provision (benefit) for income taxes, Change in fair value of debt conversion liability, Non-GAAP tax provision on adjusted income before income taxes, Weighted average dilutive potential common shares outstanding 1, GAAP diluted net income (loss) per common share, Adjusted (non-GAAP) diluted net income per common share 2. https://www.businesswire.com/news/home/20201210005427/en/, Press: About Ciena. To receive notifications via email, enter your email address and select at least one subscription below. One 10%-plus customer represented a total of 15.1% of revenue for the fiscal quarter, Three 10%-plus customers represented a total of 34.1% of revenue for the fiscal year, Cash and investments totaled $1,024.0 million, Cash flow from operations totaled $240.0 million and $413.1 million for the fiscal quarter and year, respectively, Average days' sales outstanding (DSOs) were 75 and 82 for the fiscal quarter and year, respectively, Accounts receivable balance was $724.9 million, Unbilled contract asset balance was $84.0 million. Today, Thursday, December 12, 2019, 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 2019 results. APPENDIX B - Calculation of EBITDA and Adjusted EBITDA (unaudited), Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA), Less: Interest and other income (loss), net, Add: Loss on extinguishment and modification of debt, Add: Depreciation of equipment, building, furniture and fixtures, and amortization of leasehold improvements, Add: Significant asset impairments and restructuring costs, Add: Acquisition and integration costs (recoveries). We provide solutions that help our clients create the Adaptive Network™ in response to the constantly changing demands of their users. [email protected], Investors: 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. https://www.businesswire.com/news/home/20191212005133/en/. Ciena's fiscal fourth-quarter revenue of $828.5 million was down 14.4% over the prior-year period, though it … For the fiscal fourth quarter 2019, Ciena reported revenue of $968.0 million as compared to $899.4 million for the fiscal fourth quarter 2018. https://www.businesswire.com/news/home/20191212005133/en/, Press Contact: [email protected]. 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. HANOVER, Md.--(BUSINESS WIRE)--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.Q4 Revenue: $828.5 million; Q4 Net Income per Share: $0.42 GAAP; $0.60 adjusted (non-GAAP), increasing 3.4% year over year Share Repurchases: … For updates on Ciena, follow us on Twitter @Ciena, LinkedIn, the Ciena Insights blog, or visit www.ciena.com. The calculation of GAAP diluted net income per common share for the fourth quarter of fiscal 2018 requires a) adding back interest expense of approximately $0.4 million associated with Ciena's "Original" 3.75% convertible senior notes, which were converted by holders thereof immediately prior to maturity during the fourth quarter of fiscal 2018 and approximately $2.8 million associated with Ciena's 4.0% convertible senior notes, which were converted at Ciena's election during the fourth quarter of fiscal 2018, and b) reducing net income by $12.9 million for a non-cash loss due to a mark to market fair value adjustment related to the outstanding conversion feature of Ciena's "New" 3.75% senior convertible notes, which were converted by holders thereof immediately prior to maturity during the fourth quarter of fiscal 2018, in order to derive the numerator for the diluted earnings per common share calculation. Ciena Corporation (CIEN) CEO Gary Smith on Q4 2020 Results - Earnings Call Transcript SA Transcripts Dec. 10, 2020 3:32 PM ET Alibaba Is Now An Antitrust Target In China. Your feedback will be used on a non-identifiable basis to help improve your website experience. Inventories totaled $345.0 million, including: Reserve for excess and obsolescence: $(47.3) million, Product inventory turns were 5.4 and 5.0 for the fiscal quarter and year, respectively. Performance Summary for the Fiscal Fourth Quarter and the Year Ended October 31, 2020. Ciena® Corporation (NYSE: CIEN), the network specialist, today announced unaudited financial results for its fiscal fourth quarter and year ended October 31, 2016. The calculation of adjusted (non-GAAP) diluted net income per common share for the fourth quarter of fiscal 2018 requires adding back interest expense of approximately $0.4 million associated with Ciena's "Original" 3.75% convertible senior notes and approximately $2.3 million associated with Ciena's 4.0% convertible senior notes to the adjusted (non-GAAP) net income in order to derive the numerator for the adjusted (non-GAAP) earnings per common share calculation. Ciena (NYSE: CIEN) is a networking systems, services and software company. These statements are based on current expectations, forecasts, assumptions and other information available to the Company as of the date hereof. Your feedback will be used on a non-identifiable basis to help improve your website experience. 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. "Our innovation, diversification and scale uniquely position us to continue taking share while delivering improved operating margin and driving sustained EPS growth in 2020.". How was your overall experience on the site today? Nicole Anderson For fiscal year 2019, Ciena's adjusted (non-GAAP) net income was $331.8 million, or $2.11 per diluted common share, as compared to an adjusted (non-GAAP) net income of $210.6 million, or $1.39 per diluted common share for fiscal year 2018. You can sign up for additional subscriptions at any time. Ciena Corporation CIEN is scheduled to report fourth-quarter fiscal 2020 results (ended Oct 31, 2020) on Dec 10, before the opening bell. Ciena's management will also host a discussion today with investors and financial analysts that will include the Company's outlook. Weighted average dilutive potential common shares outstanding used in calculating adjusted (non-GAAP) diluted net income per common share for the fourth quarter of fiscal 2018 includes 2.0 million shares underlying certain stock option and stock unit awards, 0.7 million and 2.5 million shares underlying Ciena's "New" and "Original" 3.75% convertible senior notes, respectively, which were converted by holders thereof immediately prior to maturity during the fourth quarter of fiscal 2018, and 8.9 million shares underlying Ciena's 4.0% convertible senior notes, which were converted at Ciena's election during the fourth quarter of fiscal 2018. The tables below (in millions, except percentage data) provide comparisons of certain quarterly and annual results to the prior year. Ciena® Corporation expects to announce its fiscal fourth quarter financial results on Thursday, December 10, 2020. Today, Thursday, December 13, 2018, in conjunction with this announcement, Ciena has posted to the Quarterly Results page of the Investor Relations section of its website certain prepared remarks of management and related supporting materials for … 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. An archived replay of the live broadcast will be available shortly following its conclusion on the Investor Relations page of Ciena's website. 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. (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. Cash flows provided by (used in) investing activities: Payments for equipment, furniture, fixtures and intellectual property, Purchase of available for sale securities, Proceeds from maturities of available for sale securities, Settlement of foreign currency forward contracts, net, Acquisition of businesses, net of cash acquired, Net cash provided by (used in) investing activities, Shares repurchased for tax withholdings on vesting of restricted stock units, Repurchases of common stock - repurchase program, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net increase in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash at beginning of fiscal year, Cash, cash equivalents and restricted cash at end of fiscal year, Supplemental disclosure of cash flow information, Cash paid during the fiscal year for interest, Cash paid during the fiscal year for income taxes, net, Non-cash investing and financing activities, Purchase of equipment in accounts payable, Conversion of debt conversion liability into 1,585,140 shares of common stock, Operating lease right-of-use assets subject to lease liability, APPENDIX A - Reconciliation of Adjusted (Non-GAAP) Measurements (unaudited), Gross Profit Reconciliation (GAAP/non-GAAP), Total adjustments related to gross profit, Adjusted (non-GAAP) gross profit percentage, Operating Expense Reconciliation (GAAP/non-GAAP), Share-based compensation-research and development, Share-based compensation-sales and marketing, Share-based compensation-general and administrative, Total adjustments related to operating expense, Income from Operations Reconciliation (GAAP/non-GAAP), Total adjustments related to income from operations, Adjusted (non-GAAP) income from operations, Adjusted (non-GAAP) operating margin percentage, Net Income Reconciliation (GAAP/non-GAAP), Non-GAAP tax provision on adjusted income before income taxes, GAAP diluted net income per potential common share, Adjusted (non-GAAP) diluted net income per potential common share. CONDENSED UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS, Acquisition and integration costs (recoveries), Significant asset impairments and restructuring costs, Loss on extinguishment and modification of debt, Diluted net income per potential common share, Weighted average basic common shares outstanding, Weighted average diluted potential common shares outstanding(1). After submitting your information, you will receive an email. An archived replay of the live broadcast will be available shortly following its conclusion on the Investor Relations page of Ciena's website. 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® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal fourth quarter and … "; "Our innovation, diversification and scale uniquely position us to continue taking share while delivering improved operating margin and driving sustained EPS growth in 2020.". Management believes that the non-GAAP measures below provide management and investors useful information and meaningful insight to the operating performance of the business. Ciena assumes no obligation to update any forward-looking information included in this press release. APPENDIX B- Calculation of EBITDA and Adjusted EBITDA (unaudited), Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA), Less: Interest and other income (loss), net, Add: Loss on extinguishment and modification of debt, Add: Provision (benefit) for income taxes, Add: Depreciation of equipment, building, furniture and fixtures, and amortization of leasehold improvements, Add: Significant asset impairments and restructuring costs. For the fiscal fourth quarter 2015, Ciena reported revenue of $692.0 million as compared to … 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: To protect your privacy, please do not enter any personal information -- Ciena Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results … +1 (410) 694-5761 The calculation of adjusted (non-GAAP) diluted net income per common share for fiscal 2018 requires adding back interest expense of approximately $1.8 million associated with Ciena's "Original" 3.75% convertible senior notes and approximately $8.7 million associated with Ciena's 4.0% convertible senior notes to the adjusted (non-GAAP) net income in order to derive the numerator for the adjusted (non-GAAP) earnings per common share calculation. 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. Weighted average dilutive potential common shares outstanding used in calculating adjusted (non-GAAP) diluted net income per common share for fiscal 2019 includes 1.9 million shares underlying certain stock option and stock unit awards. [email protected]. Ciena assumes no obligation to update any forward-looking information included in this press release. Financial performance rounded out an extraordinary year of industry-leading growth and profitability certain and! Release contains certain forward-looking statements that involve risks and uncertainties $ 3.57 billion for year! 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