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Thursday, December 7, 2017

-=Ciena (CIEN) reported earnings on Thur 7 Dec 17 (b/o)

Ciena misses by $0.04, beats on revs; announces $300 mln share repurchase 
  • Reports Q4 (Oct) earnings of $0.46 per share, excluding $1.13 billion benefit related to the reversal of a deferred tax asset valuation allowance, $0.04 worse than the Capital IQ Consensus of $0.50; revenues rose 3.9% year/year to $744.4 mln vs the $736.91 mln Capital IQ Consensus. Ciena's adjusted "New Method" (changing how it calculates its adjusted (non-GAAP) provision for income taxes) net income for the fiscal fourth quarter 2017 was $48.5 million, or $0.32 per diluted common share. Adjusted gross margin 44.2% vs. mid-40s guidance. 
  • NA sales -5%, EMEA -1.6%, APAC +60% 
  • Ciena announced that its Board of Directors has authorized a program to repurchase up to $300 million of the company's common stock through the end of fiscal 2020. 

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