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Ciena reports Q3 2019 financial results; observes a 17.3 per cent YoY increase in revenues

September 09, 2019
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Ciena Corporation has announced unaudited financial results for its fiscal third quarter ended July 31, 2019 (Q3 2019).

Ciena’s revenue increased from $818.8 million during Q3 2018 to $960.6 million during Q3 2019.

Moreover, Ciena's GAAP net income increased from $50.8 million ($0.34 per diluted common share) during Q3 2018 to $86.7 million ($0.55 per diluted common share) during Q3 2019.

Meanwhile, Ciena's adjusted (non-GAAP) net income increased from $74.3 million ($0.48 per diluted common share) during Q3 2018 to $112.3 million ($0.71 per diluted common share) during Q3 2019.

Key highlights-

Q3 2019 revenue: $960.6 million, increasing 17.3 per cent year over year

Q3 2019 net income per share: $0.55 GAAP; $0.71 adjusted (non-GAAP)

Share repurchases: Repurchased approximately 1.1 million shares of common stock for an aggregate price of $45.4 million during the quarter

Commenting on the development, Gary Smith, president and CEO, Ciena, said,  "We delivered another quarter of outstanding financial results as we benefit from our strong competitive position within the industry and continue to gain market share. Looking ahead, fiscal 2019 will be an extraordinary year for Ciena, including substantial revenue growth and increased profitability."

For more information on Ciena's Q3 2019 financial results, follow the below link

https://investor.ciena.com/news/press-release-details/2019/Ciena-Reports-Fiscal-Third-Quarter-2019-Financial-Results/default.aspx

 
 
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