Ciena reported revenue of $1.04 billion for its fiscal fourth quarter ended October 30, 2021, an increase of 25.7% year over year. Q4 net income per share was $0.66 GAAP; $0.85 adjusted (non-GAAP), increasing 41.7% year over year.
“Our strong financial results exceeded our expectations in the fourth quarter and for the full fiscal year, driven by continued execution of our strategy and our demonstrated ability to manage supply chain challenges,” said Gary Smith, President and CEO, Ciena. “Looking ahead, we intend to continue driving growth in our business by leveraging our market leadership and investing to capitalize on robust demand dynamics. In addition, our strong balance sheet and cash generation expectations allow us to increase return of capital to our shareholders.”
For fiscal year 2021, Ciena reported revenue of $3.62 billion, as compared to $3.53 billion for fiscal year 2020.
On December 1, 2021, Ciena’s Board of Directors authorized the repurchase of up to $1.0 billion of the company’s stock, replacing the previous share repurchase authorization. In connection with this new authorization, the company intends to enter into an accelerated share repurchase (ASR) arrangement under which it will repurchase $250 million of its common stock.
Some highlights:
- WL5 Extreme (WL5e) total number of customers has reached 140 including 75 in 2021
- 43 wins in the Routing and Switching portfolio
- Blue Planet revenue grew 23% YoY
- Commercially shipped its first 400 ZR pluggables, WL5 Nano
- Non-telco represented 39% of total revenue
- Direct web-scale contributed 18% of total revenue
- APAC contributed 12% of total revenue
