Ciena’s Earnings Indigestion (CIEN)

Posted in pre-market 
December 10th, 2009

Ciena Corporation (NASDAQ: CIEN) is trading lower this morning after the company missed its earnings at -$0.12 EPS vs. -$0.07 estimates.  The bright side was revenues, off only 1.9%, at $176 million versus estimates of $168 million. Ciena noted cautious customer spending but the company noted that its order book so far this quarter should yield sequential revenue growth of up to 5%.  At 8:20 AM EST we have shares down 3.9% at $12.71 on over 57,000 shares.  The 52-week range is $4.98 to $16.64 and the average daily volume is over 6 million shares.

Be advised that Ciena shares may whip around based upon comments it makes in the conference call over the Nortel buyout progress more than on its real revenue and earnings data today.

JON C. OGG

Comments are closed

-->