Ciena has announced unaudited financial results for its fiscal third quarter ended August 1, 2020. The company’s revenues during the period under consideration stood at $976.7 million, increasing 1.7 per cent year over year. Ciena had reported revenue of $960.6 million for the fiscal third quarter 2019.

Meanwhile, Ciena’s GAAP net income for the fiscal third quarter 2020 was $142.3 million, or $0.91 per diluted common share. In contrast, its GAAP net income was $86.7 million, or $0.55 per diluted common share, for the fiscal third quarter 2019.

Commenting on the results, Gary Smith, president and CEO, Ciena, said, “We delivered outstanding financial results in the third quarter, reflecting our continued innovation, market leadership and strong competitive position in an uncertain macro environment. Although COVID-related market dynamics have resulted in an orders slowdown and are likely to adversely impact our revenue for a few quarters, we are confident in our ability to continue executing on our strategy and expanding our market leadership.”