Ciena misses by $0.02, reports revs in-line; guides Q1 revs in-line; will guide for FY17 on the call
- Reports Q4 (Oct) earnings of $0.44 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus of $0.46; revenues rose 3.5% year/year to $716.2 mln vs the $716.93 mln Capital IQ Consensus. U.S. customers contributed 61% of total revenue. One 10%-plus customer represented a total of 18.3% of revenue
- US rev down 3.5%; EMEA +19%; Asia/Pac +17%
- Adj. gross margin 45.2% vs. mid-40% guidance
- Co issues in-line guidance for Q1, sees Q1 revs of $615-645 mln vs. $634.21 mln Capital IQ Consensus. Adjusted (non-GAAP) gross margin in the mid-40s percentage range.
- "Our strong fiscal 2016 results demonstrate our increasingly differentiated performance versus our competitors, marking Ciena's seventh consecutive year of growing faster than the overall market as well as steady improvement in our operating leverage, profitability and cash flow," said Gary Smith, president and CEO, Ciena. "We believe that the combination of our leading technology, strategic investments, global scale and business diversification will enable us to continue to take market share and drive operating leverage in fiscal 2017."
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