Ciena Corporation has announced unaudited financial results for its fiscal fourth quarter and year ended October 31, 2013.

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For the fiscal fourth quarter 2013, Ciena reported revenue of $583.4 million as compared to $465.5 million for the fiscal fourth quarter 2012. For fiscal year 2013, Ciena reported revenue of $2.1 billion, as compared to $1.8 billion for fiscal year 2012.

On the basis of generally accepted accounting principles (GAAP), Ciena’s net loss for the fiscal fourth quarter 2013 was $(9.8) million, or $(0.09) per common share, which compares to a GAAP net loss of $(38.8) million, or $(0.39) per common share, for the fiscal fourth quarter 2012. For fiscal year 2013, Ciena had a GAAP net loss of $(85.4) million, or $(0.83) per common share, which compares to a GAAP net loss of $(144.0) million or $(1.45) per common share for fiscal year 2012.

Ciena’s adjusted (non-GAAP) net income for the fiscal fourth quarter 2013 was $18.3 million, or $0.16 per diluted common share, which compares to an adjusted (non-GAAP) net loss of $(6.7) million, or $(0.07) per common share, for the fiscal fourth quarter 2012. For fiscal year 2013, Ciena’s adjusted (non-GAAP) net income was $59.0 million, or $0.54 per diluted common share, as compared to an adjusted (non-GAAP) net loss of $(23.5) million, or $(0.24) per common share for fiscal year 2012.

Additional Performance Metrics for Fiscal Fourth Quarter 2013 

?Non-U.S. customers contributed 44.1 per cent of total revenue

?One 10 per cent-plus customer represented a total of 16.5 per cent of revenue

?Cash and investments totaled $486.5 million

?Cash flow from operations totaled $3.6 million

?Average days’ sales outstanding (DSOs) were 75

?Accounts receivable balance was $488.6 million

?Inventories totaled $249.1 million, including:

?Raw materials: $53.3 million

?Work in process: $7.8 million

?Finished goods: $153.8 million

?Deferred cost of sales: $75.8 million

?Reserve for excess and obsolescence: $(41.6) million

?Product inventory turns were 4.6

?Headcount totaled 4,754

Business Outlook for Fiscal First Quarter 2014

Ciena expects financial performance for fiscal first quarter 2014, a quarter in which we typically experience seasonal reductions in order volume and customer deployment activity, to include:

?Revenue in the range of $515 to $545 million

?Adjusted (non-GAAP) gross margin percentage in the low 40s range

?Adjusted (non-GAAP) operating expense of approximately $205 million