Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Ciena Corporation    

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 
The feature you requested does not exist. However, we suggest the following feature:

TECH STOCKS: Ciena, Cisco, Facebook Highlight Mixed Tech Action

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/12/2013 | 10:32pm CEST

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Ciena Corp. and Cisco Systems Inc. were among the decliners in the tech sector Thursday, but Facebook Inc. managed to post strong gains as the social-networking giant said it would soon be added to the S&P 500 index.

Ciena (CIEND) fell almost 7%, to close at $21.31, after the company reported on Thursday a quarterly loss of $9.8 million, or 9 cents a share, on revenue of $583.4 million, compared with a loss of $38.8 million, or 39 cents a share, on $465.5 million in sales in the same period a year ago. Excluding one-time items, Ciena would have earned 16 cents a share.

Analysts surveyed by Thomson Reuters had forecast Ciena to earn 24 cents a share on $568 million in revenue.

Ciena said gross margins as a percentage of revenue fell to 39.7% from 41.3% a year ago. Operating expenses also rose to $232 million from $214 million in last year's fourth quarter.

Ciena Chief Executive Gary Smith said that the initial market reaction should be taken with a grain of salt.

"All of our [business] metrics performed strongly," Smith said. "We've got record backlog [of orders] and a lot of engagement with carriers around the world."

For its current fiscal first quarter, Ciena forecast revenue in a range of $515 million to $545 million, while analysts had forecast the company to post sales of $538 million.

With Ciena losing ground, other companies in the networking sector also closed in the red as the sector often moves in tandem when one of its major companies reports upbeat or negative quarterly results.

Cisco Systems Inc. (>> Cisco Systems, Inc.) fell almost 2% to close at $20.51. Cisco officials on Thursday said the company expects revenue to grow between 3% and 6% over the next 3 to 5 years, which fell below analysts' expectations for 5% to 7% sales growth. And on Wednesday, Citigroup started coverage of the networking giant with a sell rating.

Juniper Networks Inc. (>> Juniper Networks, Inc.), F5 Networks Inc. (>> F5 Networks, Inc.) and JDS Uniphase Corp. (JDSUD) also closed in the red.

Separately, Ciena said it would transfer its stock listing to the New York Stock Exchange from the Nasdaq (RIXF) on Dec. 23. The tech-heavy Nasdaq Composite Index fell 5 points to close at 3,998, while the Philadelphia Semiconductor Index (SOX) gave up almost 1% on the day.

Among other leading tech companies, Facebook Inc. (>> Facebook Inc) rose almost 5%, to close at $51.83 a share, as the social-networking giant said it would be added to the S&P 500 Index (SPX). The move was seen as a mixed blessing in some quarters, based on the historical performance of companies that replace others in the closely watched stock index.

Microsoft Corp. (>> Microsoft Corporation) shares gave up 1%, to close at $37.22 following reports that Ford Motor Co. (F) CEO Alan Mulally might not be the leading candidate to replace retiring CEO Steve Ballmer.

More must-read technology news from MarketWatch

Microsoft's Surface 2 may be a holiday hit

Apple's share of China's smartphone market jumps in October

Here's what you'll save by ditching cable TV

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CIENA CORPORATION
09/20 CIENA : KB Kookmin Bank Selects Ciena Optical Encryption to Improve Data Securit..
09/15 CIENA : Crowns Winner of its First Open Networking Innovation Competition Held J..
09/15 CIENA : Patent Issued for Driver and Capacitive Load Integration (USPTO 9436019)
09/08 CIENA : Crowns Winner of its First Open Networking Innovation Competition Held J..
09/08 CIENA : Mexico’s Marcatel taps Ciena for carrier Ethernet solution
09/07 CIENA : Management's Discussion and Analysis of Financial Condition and Results ..
09/07 CIENA CORPORATION : Post Earnings Coverage as Ciena Earnings Metrics Registers G..
09/07 CIENA : Marcatel Expands Ethernet Business Service Offerings with Ciena
09/05 CIENA : to Webcast Financial Community Events
09/02 CIENA : to Webcast Financial Community Events
More news
Sector news : Communications & Networking - NEC
09/26DJApple Goes Without a Lobby Into European Fray
09/25DJApple to Battle EU Regulator Without Usual Lobbying Army
09/22DJCISCO : Salesforce Announce Cloud Integration
09/20DJCorrection to GE Talent Story
09/20DJGE Goes Into High Gear to Attract Silicon Valley Tech Talent
More sector news : Communications & Networking - NEC
Advertisement
Financials ($)
Sales 2016 2 601 M
EBIT 2016 296 M
Net income 2016 69,0 M
Debt 2016 224 M
Yield 2016 -
P/E ratio 2016 45,54
P/E ratio 2017 27,92
EV / Sales 2016 1,27x
EV / Sales 2017 1,14x
Capitalization 3 070 M
More Financials
Income Statement Evolution
More Financials
Consensus 
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 26,5 $
Spread / Average Target 20%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Gary B. Smith President, Chief Executive Officer & Director
Patrick H. Nettles Executive Chairman
François Locoh-Donou Chief Operating Officer & Senior Vice President
James E. Moylan Chief Financial Officer & Senior Vice President
Stephen B. Alexander Chief Technology Officer & Senior Vice President
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CIENA CORPORATION3 070
CISCO SYSTEMS, INC.14.42%155 796
QUALCOMM, INC.24.66%91 823
TELEFONAKTIEBOLAGET LM..-27.58%23 001
ALCATEL LUCENT-4.11%13 928
MOTOROLA SOLUTIONS INC10.96%12 663
More Results