Ciena's Q1 revenue rises 18% to $534M, sees uptick in converged packet optical sales
Ciena (NYSE: CIEN) reported that fiscal year first-quarter revenues rose 18 percent year over year to $533.7 million, up from $453.1 million for the fiscal first quarter of 2013.
The company's net loss was $15.9 million, or 15 cent per common share, which compares to a GAAP net loss of $(47.3) million, or $(0.47) per common share, for the first fiscal quarter of 2013.
Similar to earlier quarters, Converged Packet Optical was a dominant revenue driver, rising year-over-year to $333.4 million, up from $240 million in the same period a year ago. Revenues did decline sequentially from $351 million in fiscal year fourth-quarter 2013.
Not far behind was Packet Networking, where revenues were $51.7 million, up year-over-year from $45.8 million in fiscal year first quarter 2013.
However, the vendor did report that legacy Optical Transport and Software and Services both declined year-over-year to $40.1 million and $109 million from $58 million and $110 million, respectively.
Despite any near-term misses, a recent Dell'Oro report revealed that DWDM equipment, particularly platforms that support 100G wavelengths, will drive up total optical transport revenues to $15 billion by 2018.
The research firm said it expects the DWDM market to grow at an average annual rate of 8 percent through 2018 and for 100 Gbps wavelengths to contribute the largest share of DWDM capacity shipments, approaching 80 percent by 2018.
Looking forward, Ciena has forecast fiscal second quarter 2014 revenue in the range of $540 to $570 million.
Shares of Ciena were listed at $25.89, up 53 cents or 2.10 percent, in morning trading on the New York Stock Exchange.
- see the earnings release
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