Ciena posts Q2 revenue of $730M, up 3% yoy

Ciena reported Q2 revenue of  $730.0 million, up 3% year over year as compared to $707.0 million for the fiscal second quarter 2017.

GAAP net income for the fiscal second quarter 2018 was $13.9 million, or $0.09 per diluted common share, which compares to a GAAP net income of $38.0 million, or $0.25 per diluted common share, for the fiscal second quarter 2017. Ciena’s adjusted (non-GAAP) net income for the fiscal second quarter 2018 was $33.8 million, or $0.23 per diluted common share, which compares to an adjusted (non-GAAP) net income of $48.2 million, or $0.30 per diluted common share, for the fiscal second quarter 2017.

“We delivered strong revenue and record order flow in the second quarter as we continue to broaden our leadership and capture market share. Gross margin was impacted by several new, international service provider deployments in their early stages; however, we are confident in our ability to return to our normalized gross margin levels. We anticipate strong revenue growth in the second half of fiscal 2018 and we remain confident in our three-year financial targets,” stated Ciena President and CEO Gary B. Smith.

Some highlights from the company’s quarterly financial presentation:

• Non-telco represented 34% of total revenue
• Direct webscale was 17% of total revenue
• North America represented 59.1% of Q2 revenue
• EMEA was up QoQ and YoY at 16.7% of total revenue
• APAC contributed over 20% of total revenue; India revenue was over 10% of total revenue at $79 million
• WaveLogic Ai: 29 total customers
• Waveserver: 84 customers