Ciena Corp. Files 10-Q for Q2 2024
Ticker: CIEN · Form: 10-Q · Filed: Jun 6, 2024 · CIK: 936395
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
CIENA 10-Q FILED: Q2 2024 financials are in. Check for revenue and segment details.
AI Summary
Ciena Corp. filed its 10-Q for the period ending April 27, 2024, reporting on its financial performance. The company's fiscal year ends on November 2nd. Key financial data and segment information for product and service revenue are detailed within the filing.
Why It Matters
This filing provides investors and analysts with a detailed look at Ciena's financial health and operational performance for the second quarter of fiscal year 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently present new risks.
Key Players & Entities
- CIENA CORP (company) — Filer of the 10-Q
- 20240427 (date) — End of the reporting period
- 1102 (date) — Fiscal year end
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is April 27, 2024.
When does Ciena Corp.'s fiscal year end?
Ciena Corp.'s fiscal year ends on November 2nd (1102).
What is the filing date of this 10-Q?
This 10-Q filing was submitted on June 6, 2024.
What is the Central Index Key (CIK) for Ciena Corp?
The Central Index Key for Ciena Corp. is 0000936395.
What is Ciena Corp.'s primary business address?
Ciena Corp.'s business address is 7035 Ridge Road, Hanover, MD 21076.
Filing Stats: 4,506 words · 18 min read · ~15 pages · Grade level 19.8 · Accepted 2024-06-06 14:41:09
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share CIEN New York Stock Exchange
Filing Documents
- cien-20240427.htm (10-Q) — 1903KB
- ex31fifthrestatedcertofinc.htm (EX-3.1) — 36KB
- ex311certofceo04-27x24.htm (EX-31.1) — 8KB
- ex312certofcfo04-27x24.htm (EX-31.2) — 8KB
- ex321certofceosection90604.htm (EX-32.1) — 4KB
- ex322certofcfosection90604.htm (EX-32.2) — 4KB
- 0000936395-24-000025.txt ( ) — 9707KB
- cien-20240427.xsd (EX-101.SCH) — 47KB
- cien-20240427_cal.xml (EX-101.CAL) — 96KB
- cien-20240427_def.xml (EX-101.DEF) — 248KB
- cien-20240427_lab.xml (EX-101.LAB) — 649KB
- cien-20240427_pre.xml (EX-101.PRE) — 471KB
- cien-20240427_htm.xml (XML) — 1929KB
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
Financial Statements (unaudited)
Item 1. Financial Statements (unaudited) 3 Condensed Consolidated Statements of Operations for the Quarters and Six Months Ended April 27 , 2024 and April 2 9 , 2023 3 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Quarters and Six Months Ended April 27, 2024 and April 29, 2023 4 Condensed Consolidated Balance Sheets at April 27, 2024 and October 28, 2023 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended April 27, 2024 and April 2 9 , 2023 6 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Six Months Ended April 27, 2024 and April 2 9 , 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 25
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 38
Controls and Procedures
Item 4. Controls and Procedures 38
— OTHER INFORMATION
PART II — OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 39
Risk Factors
Item 1A. Risk Factors 39
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 41
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 41
Other Information
Item 5. Other Information 41
Exhibits
Item 6. Exhibits 42
– 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 Six Months Ended April 27, April 29, April 27, April 29, 2024 2023 2024 2023 Revenue: Products $ 701,316 $ 935,330 $ 1,537,093 $ 1,813,045 Services 209,510 197,325 411,442 376,131 Total revenue 910,826 1,132,655 1,948,535 2,189,176 Cost of goods sold: Products 415,732 541,883 882,204 1,042,220 Services 106,433 103,089 210,708 203,327 Total cost of goods sold 522,165 644,972 1,092,912 1,245,547 Gross profit 388,661 487,683 855,623 943,629 Operating expenses: Research and development 195,380 189,993 382,649 371,723 Selling and marketing 124,071 125,083 252,229 248,890 General and administrative 49,573 50,939 104,256 101,835 Significant asset impairments and restructuring costs 15,655 8,153 20,626 12,451 Amortization of intangible assets 7,947 9,845 15,199 17,286 Acquisition and integration costs — 857 — 3,415 Total operating expenses 392,626 384,870 774,959 755,600 Income (loss) from operations ( 3,965 ) 102,813 80,664 188,029 Interest and other income, net 11,797 8,551 22,447 40,524 Interest expense ( 23,861 ) ( 23,889 ) ( 47,637 ) ( 39,759 ) Income (loss) before income taxes ( 16,029 ) 87,475 55,474 188,794 Provision for income taxes 820 29,821 22,776 54,899 Net income (loss) $ ( 16,849 ) $ 57,654 $ 32,698 $ 133,895 Basic net income (loss) per common share $ ( 0.12 ) $ 0.39 $ 0.23 $ 0.90 Diluted net income (loss) per potential common share $ ( 0.12 ) $ 0.38 $ 0.22 $ 0.89 Weighted average basic common shares outstanding 144,914 149,616 145,104 149,351 Weighted average dilutive potential common shares outstanding 144,914 150,147 146,059 149,852 The accompanying notes are an integral part of these Condensed Consolidated Financial Statements. 3 CIENA CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in thousands) (unaudited) Quarter Ended