Ciena Misses on Q4 EPS; Will Shift Listing to NYSE
Ciena swung to an adjusted net profit in its Q4, but the result still fell short of expectations. For the quarter, revenue was $583 million, a substantial improvement over the $466 million in the same period the previous year. The company's net loss was much narrower, at $9.8 million ($0.09 per diluted share), against Q4 2012's $38.8 million ($0.39). On an adjusted basis, those figures were a profit of $18.3 million ($0.16 per share) and a shortfall of $6.7 million ($0.07), respectively. Analysts had been anticipating an adjusted EPS of $0.24 on revenue of $569 million.
For the entirety of fiscal 2013, Ciena posted revenue of $2.1 billion and a net loss of $85.4 million ($0.83 per diluted share). On an adjusted basis, bottom line was just under $59 million ($0.54). Those figures for fiscal 2012 were $1.8 billion, and losses of $144.0 million ($1.45 per diluted share), and $23.5 million ($0.24), respectively.
Ciena also provided selected guidance for its current Q1 2014. It believes its top line will come in at $515 million to $545 million, while its adjusted gross margin percentage will be in the low 40s, and operating expenses will total roughly $205 million.
Separately, Ciena announced that it is to transfer the listing of its common stock from Nasdaq to the New York Stock Exchange. It anticipates the first day of trading on the NYSE will be December 23, and that it will keep its present ticker symbol of CIEN.
The article Ciena Misses on Q4 EPS; Will Shift Listing to NYSE originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Ciena. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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