Ciena Corp Stock Price, News & Analysis

Ciena Corporation has announced key leadership changes effective January 30, 2023. Joe Cumello has been promoted to Senior Vice President and General Manager of the Blue Planet division, succeeding his role as Senior Vice President, Global Marketing & Communications. Cumello, who has over 30 years of industry experience, will focus on growth strategies for Blue Planet. Rebecca Smith has been appointed to replace him, moving from Vice President, Global Portfolio and Programs Marketing. She brings over 25 years of experience and will lead Ciena’s global marketing strategy.

Ciena Corporation announced key leadership changes aimed at enhancing its strategic direction. David M. Rothenstein has been promoted to Senior Vice President and Chief Strategy Officer, following nearly two decades as General Counsel. He will spearhead strategic planning, mergers, and acquisitions, while continuing to oversee sustainability efforts. Concurrently, Sheela Kosaraju has been elevated to Senior Vice President and General Counsel, managing global legal affairs since joining in 2010. These appointments are effective January 30, 2023, and reflect Ciena's commitment to strong leadership and market growth.

Ciena Corporation (NYSE: CIEN) will participate in the Needham Growth Conference on January 10, 2023, at 12:45 p.m. Eastern Time. David Rothenstein, Senior Vice President and Chief Strategy Officer, is set to speak at this live webcast event. Archived versions will be available approximately 24 hours post-event on the Events & Presentations page of Ciena's website. Ciena specializes in networking systems and services, enabling customers to create adaptive networks.

Ciena (NYSE: CIEN) has partnered with Dedicado to deploy a groundbreaking high-capacity network between Argentina and Uruguay, utilizing WaveLogic 5 Extreme technology. This network offers speeds between 600 Gbps and 800 Gbps, aiming to enhance support for 5G and data traffic. It can deliver up to 25.2 Tbps, providing flexibility to meet unpredictable bandwidth demands. The deployment is expected to reduce operational costs and power usage while improving network efficiency.

Ciena Corporation (NYSE:CIEN) reported its unaudited fiscal fourth quarter results for the period ending October 29, 2022, revealing revenue of $971.0 million, down 6.8% year-over-year. The net income per share was $0.39 GAAP and $0.61 adjusted. The gross margin declined to 44.7%, compared to 45.8% in Q4 2021. For the fiscal year 2022, total revenue reached $3.63 billion, slightly up from $3.62 billion in 2021. Ciena anticipates strong revenue growth in fiscal 2023, supported by a significant backlog and improved supply conditions.

Ciena Corporation (NYSE: CIEN) has announced its intent to acquire Tibit Communications and has successfully acquired Benu Networks. The cash-free, debt-free acquisition of Tibit is valued at approximately $210 million and is expected to close in Ciena's fiscal first quarter of 2023. These acquisitions aim to enhance Ciena's broadband access solutions through next-generation PON technologies and advanced subscriber management. The transactions are anticipated to strengthen Ciena's market position and accelerate the deployment of integrated broadband solutions.

Ciena Corporation (NYSE: CIEN) is set to announce its fiscal fourth quarter and year-end financial results on Thursday, December 8, 2022, before the market opens. The press release will be accessible on their official website. Additionally, Ciena will provide supporting materials on its Quarterly Results page. A live audio web broadcast hosted by management will occur at 8:30 a.m. Eastern, with an archived version available for those unable to attend. Investors and analysts can expect important insights regarding the company's financial performance.

Ciena (NYSE: CIEN) has announced the launch of its 400GbE Data Center Interconnect (DCI) service in collaboration with Omantel, aiming to enhance connectivity to meet increasing digital traffic demands. This innovative service, powered by Ciena's 6500 Packet-Optical Platform and WaveLogic 5 Extreme, allows for up to 800Gb/s capacity and is designed for wholesale, cloud, and content provider customers. The launch is part of Omantel's strategy to establish Oman as a leading digital gateway, improving delivery of cloud applications and content quality.

Ciena (NYSE: CIEN) is collaborating with WIOCC to activate a fiber pair on the Equiano submarine cable system, enhancing connectivity between Europe, Nigeria, and South Africa. This cable spans 15,000km, boasting 12 fiber pairs and 144Tbps capacity, making it one of the largest serving Africa. WIOCC has also partnered with Ciena on the 2Africa submarine cable, scheduled to come online in stages through 2023 and 2024. This initiative signifies a substantial investment in Africa's digital infrastructure, aiming to stimulate cloud and wholesale connectivity growth.