Tuesday 15th of February 2022 04:34:56 AM
Ciena lowers Q1 revenue view to $840M- $850M below estimates
- Ciena (NYSE:CIEN) down 2.7% premarket after it reported Q1 preliminary revenue to be in the range of $840 to $850 million, compared to the company’s previous expectation of $870 to $910 million vs. consensus of $894.95M.
- Adjusted gross margin for fiscal first quarter is expected to be approximately 45% to 46%, at the high end of the previous guidance of 43% to 46%.
- Adjusted operating expense for the quarter is expected to be approximately $290 million, in line with the previous guidance.
- "Accordingly, we continue to expect to achieve our revenue guidance of 11% to 13% annual growth for fiscal 2022 (consensus of 12.14% Y/Y)," said Gary Smith, president and CEO, Ciena.
- The company expects to announce full fiscal first quarter financial results on March 7, 2022, before market open.