Ciena reported revenue of $602.9 million for its fiscal third quarter 2015, as compared to $603.6 million for the fiscal third quarter 2014. Net income (GAA) for the fiscal third quarter 2015 was $23.6 million, or $0.19 per diluted common share, which compares to a GAAP net income of $16.2 million, or $0.15 per diluted common share, for the fiscal third quarter 2014.
“We delivered strong financial performance in our fiscal third quarter, including increased profitability and cash generation, demonstrating our ability to deliver on our business model and drive continued operating leverage,” said Gary B. Smith, president and CEO of Ciena. “Despite short-term revenue headwinds related to the timing of network implementations at certain large service provider customers, fundamental demand drivers for our business remain strong. In fact, we now expect to exceed 10% adjusted operating margin for the full fiscal year.”
Some highlights:
- U.S. customers contributed 59.8% of total revenue
- One customer accounted for greater than 10% of revenue and represented 20% of total revenue
- Cash and investments totaled $927.3 million
- Cash flow from operations totaled $117.5 million
- Product inventory turns were 5.6
- Headcount totaled 5,196
