Ciena Reports Fiscal Fourth Quarter 2024 Financial Results
Ciena® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal fourth quarter endedNovember 2, 2024.
Q4 Revenue:$1.12 billion
Q4 Net Income per Share:$0.25 GAAP; $0.54 adjusted (non-GAAP)
Share Repurchases: Repurchased approximately 2.1 million shares of common stock for an aggregate price of $132.0 million during the quarter
"Our Q4 revenue and strong order flow reflect our significant and increasing technology leadership and positive industry dynamics," saidGary Smith, president and CEO, Ciena. "As Cloud and AI drive bandwidth demand across the network, we are positioned for accelerated revenue growth and market share expansion moving forward."
For fiscal fourth quarter 2024, Ciena reported revenue of$1.12 billionas compared to$1.13 billionfor the fiscal fourth quarter 2023. For fiscal year 2024, Ciena reported revenue of$4.01 billion, as compared to$4.39 billionfor fiscal year 2023.
Ciena's GAAP net income for the fiscal fourth quarter 2024 was$37.0 million, or$0.25per diluted common share, which compares to a GAAP net income of$91.2 million, or$0.62per diluted common share, for the fiscal fourth quarter 2023. For fiscal year 2024, Ciena's GAAP net income was$84.0 million, or$0.58per diluted common share, as compared to GAAP net income of$254.8 million, or$1.71per diluted common share, for fiscal year 2023.
Ciena's adjusted (non-GAAP) net income for the fiscal fourth quarter 2024 was$79.3 million, or$0.54per diluted common share, which compares to an adjusted (non-GAAP) net income of$111.2 million, or$0.75per diluted common share, for the fiscal fourth quarter 2023. For fiscal year 2024, Ciena's adjusted (non-GAAP) net income was$266.3 million, or$1.82per diluted common share, as compared to adjusted (non-GAAP) net income of$406.3 million, or$2.72per diluted common share, for fiscal year 2023.
Performance Summary For Fiscal Fourth Quarter and Year EndedNovember 2, 2024
The tables below (in millions, except percentage data) provide comparisons of certain quarterly and annual results to the prior year. Appendices A and B set forth reconciliations between the GAAP and adjusted (non-GAAP) measures contained in this release.
