Ciena's fiscal Q4 takes hit from decline in packet optical spending

But year-over-year revenue rose 2 percent to $465.5 million
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Ciena (Nasdaq: CIEN) reported on Thursday fiscal Q4 2012 revenues of $465.5 million, up from $455.5 million in fiscal Q4 2011.

Like its optical equipment counterparts Alcatel-Lucent (NYSE: ALU) and Cisco (Nasdaq: CSCO), Ciena is feeling the pain of slower service provider spending.

Some of Ciena's largest telecom customers have cut spending on new optical equipment due to ongoing economic uncertainty in both the United States and in Europe.

Two of the segments that were hurt the most in this recent quarter were Packet Optical Transport (POT) and Packet Optical Switching (POS). POT revenues dropped almost by 2 percent to $289.4 million, while POS declined from $37.8 million to $20.5 million. 

During the quarter, Ciena's net loss increased to $38.8 million, or 39 cents per share, from $22.3 million, or 23 cents per share, in 2011.

On a more positive note, Carrier Ethernet Solutions and Software and Services revenues were $47.9 million and $107.7 million, respectively, up year-over-year from $28.8 and $89.3 million.

For fiscal year 2012, the Hanover, Md., vendor reported revenue of $1.8 million, up from $1.7 million for fiscal year 2011.

The vendor has forecast Q1 revenue to fall in the range between $435 million and $460 million. Analysts polled by Thomson Reuters, I/B/E/S were expecting revenue of $458.6 million.

Ciena, whose shares have risen 11 percent in the last three months, were listed at $15.85, up 28 cents, or 1.8 percent, in morning trading on the Nasdaq stock exchange.

For more:
- see the earnings release
- Reuters has this article

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