Ciena beats by $0.02, reports revs in-line; guides Q4 revs below consensus
- Reports Q3 (Jul) earnings of $0.51 per share, excluding non-recurring items, $0.02 better thanthe Capital IQ Consensus of $0.49; revenues rose 8.7% year/year to $728.7 mln vs the $726.81 mln Capital IQ Consensus. NA rev +6%; EMEA -9%; Asia-Pac +41%
- Adj. gross margin 45.5% vs. mid-40% guidance.
- "We delivered another solid quarter with strong revenue growth and profitability, and we took additional market share through our diversification and innovation leadership," said Gary B. Smith, president and CEO, Ciena. "Our continued success, combined with strong fundamental demand drivers that are playing in our favor, is drawing a clear division between the winners and losers in the marketplace."
- Co issues downside guidance for Q4, sees Q4 revs of $720-750 mln vs. $770.30 mln Capital IQ Consensus; adj gross margin in the mid-40s percentage range.
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