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Ciena already looking past Q1 loss

Thu, 03/04/2010 - 7:20am
Brian Santo

Ciena reported revenue for the fiscal first quarter 2010 of $175.9 million, which compares with $167.4 million for the fiscal first quarter of 2009.

The company’s net loss widened, however. Its Q1 2010 bottom line figure was a negative $53.3 million, compared with a net loss of $24.8 million in the similar period a year ago.

The difference was due in part to a one-time charge of $27 million associated with the costs associated with the pending acquisition of the optical networking and carrier Ethernet assets of Nortel’s Metro Ethernet Networks (MEN) business.

“Revenue recognition delays associated with initial deployments of new platforms with certain customers adversely impacted fiscal first-quarter revenue," said Gary Smith, Ciena's CEO and president. "However, with strong order flow in the quarter, we remain encouraged by continued signs of an improving market environment.

"Based on our current view of the business, we anticipate that our fiscal second-quarter revenue will be in the range of $185 million to $195 million," added Smith.

Ciena said its guidance does not include any contribution from the Nortel unit.

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