Ciena Corporation has announced unaudited financial results for its fiscal second quarter ended May 2, 2020.
The company reported a year-on-year (YoY) increase of 3.4 per cent in its revenue from $865.0 million in second quarter (Q2) financial year (FY) 2019 to $894.1 million in Q2 FY20. Further, net income per share stood at $0.59 generally accepted accounting principles (GAAP) and $0.76 adjusted (non-GAAP)
Ciena’s GAAP net income for the Q2 FY20 was $91.7 million, or $0.59 per diluted common share, which compares to a GAAP net income of $52.7 million, or $0.33 per diluted comon share, for the Q2 FY19.
The company’s adjusted (non-GAAP) net income for the Q2 FY20 was $117.4 million, or $0.76 per diluted common share, which compares to an adjusted (non-GAAP) net income of $76.2 million, or $0.48 per diluted common share, for the Q2 FY19.
Commenting on the results, Gary Smith, president and chief executive officer (CEO), Ciena, said, “In this uncertain environment, we delivered industry leading financial performance during our second quarter, including strong revenue and outstanding profitability. Our strategy, centered around innovation, diversification and global scale, has resulted in a resilient business capable of navigating challenging times and delivering strong shareholder value over the long-term.”