Optical networking vendor, Ciena reported $692.0 million in revenues for the fourth quarter 2015 as compared to $591.0 million during the same period a year ago, exceeding analysts expectations. The company, however posted a loss of $13.8 million for the period, narrowing from $30.7 million a year ago.
As for the whole financial year 2015, Ciena reported a revenue of $2.4 billion, as compared to $2.3 billion a year ago. Ciena recorded a net income of $11.7 million during this period as compared to net loss of $40.6 million for fiscal year 2014.
Ciena provides equipment, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. Its competitors include Juniper Networks, Alcatel-Lucent and Infinera.
Ciena CEO Gary Smith on the company’s financial progress over the last 5 years: $CIEN pic.twitter.com/QwqWXSuUHk
— Ciena (@Ciena) December 10, 2015
Gary Smith, President and CEO, Ciena
Our strong financial performance in fiscal 2015 included substantial increases in gross and operating margin as well as meaningful cash generation, which enabled us to exceed the longer-term financial milestones that we established several years ago.
