Ciena Corp. Files Q3 2024 10-Q
Ticker: CIEN · Form: 10-Q · Filed: Sep 4, 2024 · CIK: 936395
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
CIENA 10-Q FILED: Q3 2024 financials are in. Check it out.
AI Summary
Ciena Corp. filed its 10-Q for the period ending July 27, 2024, reporting on its financial performance. The company's fiscal year ends on November 2nd. Key financial details and operational segments are outlined in this filing.
Why It Matters
This filing provides investors and analysts with a detailed look into Ciena's financial health and operational performance for the third quarter of fiscal year 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing and does not inherently present new risks.
Key Players & Entities
- CIENA CORP (company) — Filer of the 10-Q
- 20240727 (date) — End of the reporting period
- 20240904 (date) — Date of filing
- 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 for the quarter ended July 27, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on September 4, 2024.
What is Ciena Corp.'s fiscal year end date?
Ciena Corp.'s fiscal year ends on November 2nd.
What is the standard industrial classification for Ciena Corp.?
The standard industrial classification for Ciena Corp. is TELEPHONE & TELEGRAPH APPARATUS [3661].
What is the SEC file number for Ciena Corp.?
The SEC file number for Ciena Corp. is 001-36250.
Filing Stats: 4,497 words · 18 min read · ~15 pages · Grade level 19.8 · Accepted 2024-09-04 16:13:18
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share CIEN New York Stock Exchange
Filing Documents
- cien-20240727.htm (10-Q) — 1900KB
- ex311certofceo07-27x24.htm (EX-31.1) — 8KB
- ex312certofcfo07-27x24.htm (EX-31.2) — 8KB
- ex321certofceosection90607.htm (EX-32.1) — 4KB
- ex322certofcfosection90607.htm (EX-32.2) — 4KB
- 0000936395-24-000032.txt ( ) — 9753KB
- cien-20240727.xsd (EX-101.SCH) — 46KB
- cien-20240727_cal.xml (EX-101.CAL) — 96KB
- cien-20240727_def.xml (EX-101.DEF) — 241KB
- cien-20240727_lab.xml (EX-101.LAB) — 660KB
- cien-20240727_pre.xml (EX-101.PRE) — 470KB
- cien-20240727_htm.xml (XML) — 1933KB
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
Financial Statements (unaudited)
Item 1. Financial Statements (unaudited) 3 Condensed Consolidated Statements of Operations for the Quarters and Nine Months Ended July 27, 2024 and July 29, 2023 3 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Quarters and Nine Months Ended July 27, 2024 and July 29, 2023 4 Condensed Consolidated Balance Sheets at July 27, 2024 and October 28, 2023 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended July 27, 2024 and July 29, 2023 6 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Nine Months Ended July 27, 2024 and July 29, 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 26
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 40
Controls and Procedures
Item 4. Controls and Procedures 40
— OTHER INFORMATION
PART II — OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 40
Risk Factors
Item 1A. Risk Factors 40
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 42
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 42
Other Information
Item 5. Other Information 42
Exhibits
Item 6. Exhibits 44
– 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 Nine Months Ended July 27, July 29, July 27, July 29, 2024 2023 2024 2023 Revenue: Products $ 729,503 $ 865,197 $ 2,266,596 $ 2,678,242 Services 212,805 202,689 624,247 578,820 Total revenue 942,308 1,067,886 2,890,843 3,257,062 Cost of goods sold: Products 433,533 516,900 1,315,737 1,559,120 Services 104,830 102,045 315,538 305,372 Total cost of goods sold 538,363 618,945 1,631,275 1,864,492 Gross profit 403,945 448,941 1,259,568 1,392,570 Operating expenses: Research and development 188,888 189,392 571,537 561,115 Selling and marketing 121,520 118,266 373,749 367,156 General and administrative 58,248 49,349 162,504 151,184 Significant asset impairments and restructuring costs 1,361 4,174 21,987 16,625 Amortization of intangible assets 7,185 9,487 22,384 26,773 Acquisition and integration costs — 59 — 3,474 Total operating expenses 377,202 370,727 1,152,161 1,126,327 Income from operations 26,743 78,214 107,407 266,243 Interest and other income, net 14,013 10,187 36,460 50,711 Interest expense ( 24,401 ) ( 24,060 ) ( 72,038 ) ( 63,819 ) Income before income taxes 16,355 64,341 71,829 253,135 Provision for income taxes 2,125 34,608 24,901 89,507 Net income $ 14,230 $ 29,733 $ 46,928 $ 163,628 Basic net income per common share $ 0.10 $ 0.20 $ 0.32 $ 1.09 Diluted net income per potential common share $ 0.10 $ 0.20 $ 0.32 $ 1.09 Weighted average basic common shares outstanding 144,394 149,690 144,876 149,472 Weighted average dilutive potential common shares outstanding 145,361 149,977 145,795 149,867 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 Nine Months Ended July 27, July 29, July 27,