Ciena Corporation, a networking systems, services and software company, has announced unaudited financial results for its fiscal third quarter ended July 31, 2021.
- Q3 Revenue: $988.1 million
- Q3 Net Income per Share: $1.52 GAAP; $0.92 adjusted (non-GAAP)
- Share Repurchases: Repurchased approximately 0.5 million shares of common stock for an aggregate price of $26.0 million during the quarter
Commenting on the development, Gary Smith, president and CEO of Ciena, said, “We delivered outstanding fiscal third-quarter results that reflect continued momentum in our business as well as our differentiated position in the market”. “These results combined with a robust demand environment give us confidence that we will deliver our expected strong second-half performance.”
For the fiscal third quarter of 2021, Ciena reported revenue of $988.1 million as compared to $976.7 million for the fiscal third quarter 2020.
Ciena’s GAAP net income for the fiscal third quarter of 2021 was $238.2 million, or $1.52 per diluted common share, which compares to a GAAP net income of $142.3 million, or $0.91 per diluted common share, for the fiscal third quarter of 2020. Ciena’s GAAP net income for the third quarter of 2021 benefited from the recording of a $124.2 million tax benefit related to an internal transfer of non-U.S. intangible assets. See APPENDIX A – Reconciliation of Adjusted (Non- GAAP) Quarterly Measures for more information and a reconciliation of our adjusted (non-GAAP) net income which excludes the effect of these amounts.
Ciena’s adjusted (non-GAAP) net income for the fiscal third quarter 2021 was $144.9 million, or $0.92 per diluted common share, which compares to an adjusted (non-GAAP) net income of $166.4 million, or $1.06 per diluted common share, for the fiscal third quarter 2020.
For more, read: https://investor.ciena.com/news/press-release-details/2021/Ciena-Reports-Fiscal-Third-Quarter-2021-Financial-Results/default.aspx
