Ciena Corp Stock Price, News & Analysis

Ciena Corporation (NYSE: CIEN) has reaffirmed its fiscal second quarter and full year 2023 guidance, emphasizing stability in the demand environment and normalization of backlog and inventory dynamics. The company expects revenue between $1,035M to $1,115M for the second quarter, with an adjusted gross margin in the low 40s% and operating expenses around $335M. For the full year, Ciena anticipates a revenue growth of 20% to 22%, adjusted gross margins between 42% to 44%, and quarterly operating expenses of approximately $330M. The outlook reflects solid operational performance despite ongoing economic pressures.

Ciena (NYSE: CIEN) has collaborated with Colt Technology Services to enhance the Colt IQ Network, enabling high-capacity services over distances exceeding 500km using Ciena’s 6500 Reconfigurable Line System (RLS). This upgrade more than doubles Colt’s network capacity, streamlining deployment and offering enhanced operational tools like Zero-Touch Provisioning. The network aims to meet growing demands for cloud-based applications and high-bandwidth content in Japan. The collaboration reinforces Colt's position as a leader in digital infrastructure, supported by Ciena's continuous innovation.

Asia Submarine-cable Express (ASE) partnered with Ciena to enhance the sustainability and design capacity of its 8,148km cable system connecting Japan, Hong Kong, Malaysia, the Philippines, and Singapore. The upgrades, featuring Ciena's Waveserver 5 and WaveLogic 5 Extreme, improve design capacity by 193% while reducing power consumption by 60%. This collaboration addresses increasing congestion in intra-Asia cable routes and supports the growing demand for data bandwidth. Ciena also provides consulting and network transformation services for ASE’s submarine cable.

Ciena Corporation (NYSE: CIEN) reported a 25% increase in revenue year-over-year, reaching $1.06 billion for fiscal Q1 2023, compared to $844.4 million in Q1 2022. The GAAP net income was $76.2 million, or $0.51 per share, up from $45.8 million, or $0.29 per share, a year earlier. Adjusted net income was $95.6 million, translating to $0.64 per share. Ciena's gross margin declined to 43.2% from 45.5%, with operating expenses rising 14.3% to $370.7 million. The company also reported strong backlogs and visibility for future growth.

Ciena Corporation (NYSE: CIEN) will participate in the Morgan Stanley Technology, Media and Telecom Conference on March 9, 2023, at 11:00 a.m. Eastern Time. David Rothenstein, Senior Vice President and Chief Strategy Officer, will speak at the event. The conference will be webcast live and recorded, with archived versions available approximately 24 hours post-event on Ciena's Events & Presentations page. Ciena focuses on building adaptive networks, enhancing digital capabilities for customers, and fostering collaborative relationships within the tech community.

Ciena has launched the WaveLogic 6 technology, enhancing coherent optics with capabilities to support up to 1.6Tb/s single-carrier wavelengths. The new systems, WaveLogic 6 Extreme and WaveLogic 6 Nano, improve spectral efficiency by 15% and reduce space and power requirements by 50%. This innovation aims to address the growing demand for bandwidth while minimizing energy use. WaveLogic 6 will be available in the first half of 2024, marking a significant advancement in optical transport solutions tailored for service providers.

Ciena Corporation (NYSE: CIEN) announced the availability of proxy materials for its 2023 Annual Meeting of Stockholders, scheduled for March 30, 2023, at 3:00 p.m. ET. The meeting will be led by President and CEO Gary B. Smith and Senior VP David M. Rothenstein. Stockholders as of the January 30, 2023 record date will receive a notice to access proxy materials online and participate in the meeting. An audio webcast with a slide presentation will be available during the event. Ciena’s 2022 Annual Report can also be accessed on their Investor Relations website.

Ciena (NYSE: CIEN) has partnered with Maryland Broadband Cooperative (MdBC) to upgrade its optical network across Maryland. This initiative involves deploying new transport technology to enhance the existing 2,500 fiber mile network, providing 400G transport services to over 80 member organizations, including telecom and healthcare entities. The upgrade aims to improve broadband access, promote economic development, and enhance digital equity in rural areas. Ciena's technology will facilitate better network management and proactive maintenance, ultimately supporting community needs.

Ciena Corporation (NYSE: CIEN) will announce its fiscal first-quarter results on Monday, March 6, 2023, before market opening. The press release will be accessible via Ciena's website. Accompanying the financial results, Ciena will also provide additional supporting materials in the Investor Relations section. A live audio web broadcast featuring management will begin at 8:30 a.m. Eastern on the same day, available through their site. For those unable to attend live, a recording will be made available shortly after the call concludes.