Ciena Reports Fiscal Fourth Quarter 2021 and Year-End Financial Results

Ciena Reports Fiscal Fourth Quarter 2021 and Year-End Financial Results

Board Authorizes Share Repurchase up to $1.0 Billion

Ciena® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal fourth quarter and year ended October 30, 2021.

  • Q4 Revenue: $1.04 billion, increasing 25.7% year over year
  • Q4 Net Income per Share: $0.66 GAAP; $0.85 adjusted (non-GAAP), increasing 41.7% year over year
  • Share Repurchases: Repurchased approximately 0.5 million shares of common stock for an aggregate price of $26.7 million during the fourth quarter

“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 fourth quarter 2021, Ciena reported revenue of $1.04 billion, as compared to $828.5 million for fiscal fourth quarter 2020. For fiscal year 2021, Ciena reported revenue of $3.62 billion, as compared to $3.53 billion for fiscal year 2020.

Ciena’s GAAP net income for fiscal fourth quarter 2021 was $103.5 million, or $0.66 per diluted common share, which compares to GAAP net income of $65.0 million, or $0.42 per diluted common share, for fiscal fourth quarter 2020. For fiscal year 2021, Ciena’s GAAP net income was $500.2 million, or $3.19 per diluted common share, as compared to GAAP net income of $361.3 million, or $2.32 per diluted common share, for fiscal year 2020.

Ciena’s adjusted (non-GAAP) net income for fiscal fourth quarter 2021 was $132.7 million, or $0.85 per diluted common share, which compares to adjusted (non-GAAP) net income of $94.5 million, or $0.60 per diluted common share, for fiscal fourth quarter 2020. For fiscal year 2021, Ciena’s adjusted (non-GAAP) net income was $456.5 million, or $2.91 per diluted common share, as compared to adjusted (non-GAAP) net income of $460.1 million, or $2.95 per diluted common share, for fiscal year 2020.

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