Ciena Corp. Files 10-Q for Period Ending January 27, 2024
Ticker: CIEN · Form: 10-Q · Filed: Mar 7, 2024 · CIK: 936395
Sentiment: neutral
Topics: 10-Q, Ciena Corp, Financial Report, Quarterly Earnings, Telecommunications
TL;DR
<b>Ciena Corp. filed its Q1 2024 10-Q, detailing financial performance and business segments.</b>
AI Summary
CIENA CORP (CIEN) filed a Quarterly Report (10-Q) with the SEC on March 7, 2024. Ciena Corp. filed its quarterly report on Form 10-Q for the period ended January 27, 2024. The filing covers financial data and business operations for the specified quarter. Key financial statement information, including balance sheets and income statements, is presented. Details on revenue segments, such as Optical Networking and Platform Software and Services, are included. The report also contains information on common stock, additional paid-in capital, and retained earnings.
Why It Matters
For investors and stakeholders tracking CIENA CORP, this filing contains several important signals. This filing provides investors with the latest financial health and operational performance of Ciena Corp. It allows for comparison with previous periods and industry benchmarks to assess the company's trajectory.
Risk Assessment
Risk Level: medium — CIENA CORP shows moderate risk based on this filing. The filing is a standard 10-Q, which typically contains a mix of positive and negative financial information, and does not inherently signal a strong positive or negative outlook without deeper analysis of the specific numbers and risk factors.
Analyst Insight
Review the detailed financial statements and risk factors within the 10-Q to understand Ciena Corp.'s current financial position and future outlook.
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Optical Networking | ||
| Platform Software and Services | ||
| Blue Planet Automation Software and Services | ||
| Global Services |
Key Numbers
- 2024-01-27 — Period End Date (Conformed period of report)
- 2024-03-07 — Filing Date (Filed as of date)
- 1102 — Fiscal Year End (Fiscal year end)
- 3661 — SIC Code (Standard Industrial Classification)
Key Players & Entities
- CIENA CORP (company) — Filer name
- 2024-01-27 (date) — Period of report
- 2024-03-07 (date) — Filing date
- DE (jurisdiction) — State of incorporation
- HANOVER (location) — Business address city
- MD (location) — Business address state
- 21076 (postal_code) — Business address zip
- 4108658500 (phone_number) — Business phone
FAQ
When did CIENA CORP file this 10-Q?
CIENA CORP filed this Quarterly Report (10-Q) with the SEC on March 7, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by CIENA CORP (CIEN).
Where can I read the original 10-Q filing from CIENA CORP?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by CIENA CORP.
What are the key takeaways from CIENA CORP's 10-Q?
CIENA CORP filed this 10-Q on March 7, 2024. Key takeaways: Ciena Corp. filed its quarterly report on Form 10-Q for the period ended January 27, 2024.. The filing covers financial data and business operations for the specified quarter.. Key financial statement information, including balance sheets and income statements, is presented..
Is CIENA CORP a risky investment based on this filing?
Based on this 10-Q, CIENA CORP presents a moderate-risk profile. The filing is a standard 10-Q, which typically contains a mix of positive and negative financial information, and does not inherently signal a strong positive or negative outlook without deeper analysis of the specific numbers and risk factors.
What should investors do after reading CIENA CORP's 10-Q?
Review the detailed financial statements and risk factors within the 10-Q to understand Ciena Corp.'s current financial position and future outlook. The overall sentiment from this filing is neutral.
How does CIENA CORP compare to its industry peers?
Ciena Corp. operates in the telecommunications equipment industry, providing networking systems, software, and services.
Are there regulatory concerns for CIENA CORP?
The company is subject to standard SEC regulations for public filings, including the requirement to submit 10-Q reports quarterly.
Industry Context
Ciena Corp. operates in the telecommunications equipment industry, providing networking systems, software, and services.
Regulatory Implications
The company is subject to standard SEC regulations for public filings, including the requirement to submit 10-Q reports quarterly.
What Investors Should Do
- Analyze Ciena's revenue breakdown by segment for Q1 2024.
- Examine changes in balance sheet items like cash, debt, and equity compared to prior periods.
- Review any disclosed risk factors for potential impacts on future performance.
Year-Over-Year Comparison
This filing represents the most recent quarterly update for Ciena Corp., following previous filings such as the 10-Q for the period ending October 28, 2023.
Filing Stats: 4,398 words · 18 min read · ~15 pages · Grade level 19 · Accepted 2024-03-07 14:39:44
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share CIEN New York Stock Exchange
Filing Documents
- cien-20240127.htm (10-Q) — 1497KB
- ex311certofceo01-27x24.htm (EX-31.1) — 8KB
- ex312certofcfo01-27x24.htm (EX-31.2) — 8KB
- ex321certofceosection90601.htm (EX-32.1) — 4KB
- ex322certofcfosection90601.htm (EX-32.2) — 4KB
- 0000936395-24-000008.txt ( ) — 8409KB
- cien-20240127.xsd (EX-101.SCH) — 47KB
- cien-20240127_cal.xml (EX-101.CAL) — 89KB
- cien-20240127_def.xml (EX-101.DEF) — 247KB
- cien-20240127_lab.xml (EX-101.LAB) — 630KB
- cien-20240127_pre.xml (EX-101.PRE) — 457KB
- cien-20240127_htm.xml (XML) — 1519KB
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
Financial Statements (unaudited)
Item 1. Financial Statements (unaudited) 3 Condensed Consolidated Statements of Operations for the Quarters Ended January 27, 2024 and January 28, 2023 3 Condensed Consolidated Statements of Comprehensive Income for the Quarters Ended January 27, 2024 and January 28, 2023 4 Condensed Consolidated Balance Sheets at January 27, 2024 and October 28, 2023 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended January 27, 2024 and January 28, 2023 6 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three Months Ended January 27, 2024 and January 28, 2023 7 Notes to Condensed Consolidated Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 34
Controls and Procedures
Item 4. Controls and Procedures 34
— OTHER INFORMATION
PART II — OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 34
Risk Factors
Item 1A. Risk Factors 34
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 37
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 37
Other Information
Item 5. Other Information 37
Exhibits
Item 6. Exhibits 38
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements CIENA CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited) Quarter Ended January 27, January 28, 2024 2023 Revenue: Products $ 835,777 $ 877,715 Services 201,932 178,806 Total revenue 1,037,709 1,056,521 Cost of goods sold: Products 466,472 500,337 Services 104,275 100,238 Total cost of goods sold 570,747 600,575 Gross profit 466,962 455,946 Operating expenses: Research and development 187,269 181,730 Selling and marketing 128,158 123,807 General and administrative 54,683 50,896 Significant asset impairments and restructuring costs 4,971 4,298 Amortization of intangible assets 7,252 7,441 Acquisition and integration costs — 2,558 Total operating expenses 382,333 370,730 Income from operations 84,629 85,216 Interest and other income, net 10,650 31,973 Interest expense ( 23,776 ) ( 15,870 ) Income before income taxes 71,503 101,319 Provision for income taxes 21,956 25,078 Net income $ 49,547 $ 76,241 Basic net income per common share $ 0.34 $ 0.51 Diluted net income per potential common share $ 0.34 $ 0.51 Weighted average basic common shares outstanding 145,291 149,081 Weighted average dilutive potential common shares outstanding 145,848 149,551 The accompanying notes are an integral part of these Condensed Consolidated Financial Statements. 3 CIENA CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in thousands) (unaudited) Quarter Ended January 27, January 28, 2024 2023 Net income $ 49,547 $ 76,241 Unrealized gain on available-for-sale securities, net of tax 895 1,050 Unrealized gain on foreign currency forward contracts, net of tax 7,156 5,342 Unrealized loss on interest rate swaps, net of tax ( 9,474 ) ( 5,025 ) Change in cumulative translation adjustments 14,323 15,979 Other comprehensive income 12,900 17,346 Total comprehensive income $ 62,447 $ 93,587 The accompanying notes are an integral part o