We provide solutions that help our clients create the Adaptive Network™ in response to the constantly changing demands of their users. Ciena Corporation (CIEN) CEO Gary Smith on Q4 2020 Results - Earnings Call Transcript SA Transcripts Dec. 10, 2020 3:32 PM ET Alibaba Is Now An Antitrust Target In China. The amount and timing of repurchases are subject to a variety of factors including liquidity, cash flow, stock price, and general business and market conditions. By delivering best-in-class networking technology through high-touch consultative relationships, we build the world’s most agile networks with automation, openness and scale. Ciena® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal fourth quarter and … The presentation of these non-GAAP financial measures should be considered in addition to Ciena's GAAP results and these measures are not intended to be a substitute for the financial information prepared and presented in accordance with GAAP. Ciena Corporation CIEN is scheduled to report fourth-quarter fiscal 2020 results (ended Oct 31, 2020) on Dec 10, before the opening bell. Adjustments to reconcile net income to net cash provided by operating activities: Loss on fair value of debt conversion liability, Depreciation of equipment, furniture and fixtures, and amortization of leasehold improvements, Provision for inventory excess and obsolescence, Accounts payable, accruals and other obligations, Net cash provided by operating activities, Payments for equipment, furniture, fixtures and intellectual property, Purchase of available for sale securities, Proceeds from maturities of available for sale securities, Settlement of foreign currency forward contracts, net, Acquisition of businesses, net of cash acquired, Net cash provided by (used in) investing activities, Proceeds from issuance of long-term debt, net, Payment for make-whole provision upon conversion of long-term debt, Shares repurchased for tax withholdings on vesting of restricted stock units, Repurchases of common stock - repurchase program, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Net increase (decrease) in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash at beginning of fiscal year, Cash, cash equivalents and restricted cash at end of fiscal year, Supplemental disclosure of cash flow information, Cash paid during the fiscal year for interest, Cash paid during the fiscal year for income taxes, net, Non-cash investing and financing activities, Purchase of equipment in accounts payable, Contingent consideration for acquisition of business, Conversion of 3.75% convertible senior notes, due October 15, 2018 (Original) into 3,038,208 shares of common stock, Conversion of 4.0% convertible senior notes, due December 15, 2020 into 9,197,943 shares of common stock, net, Conversion of debt conversion liability into 1,585,140 shares of common stock, APPENDIX A- Reconciliation of Adjusted (Non- GAAP) Measurements (unaudited), Gross Profit Reconciliation (GAAP/non-GAAP), Total adjustments related to gross profit, Adjusted (non-GAAP) gross profit percentage, Operating Expense Reconciliation (GAAP/non-GAAP), Share-based compensation-research and development, Share-based compensation-sales and marketing, Share-based compensation-general and administrative, Total adjustments related to operating expense, Income from Operations Reconciliation (GAAP/non-GAAP), Total adjustments related to income from operations, Adjusted (non-GAAP) income from operations, Adjusted (non-GAAP) operating margin percentage, Net Income (Loss) Reconciliation (GAAP/non-GAAP), Exclude GAAP provision (benefit) for income taxes, Change in fair value of debt conversion liability, Non-GAAP tax provision on adjusted income before income taxes, Weighted average dilutive potential common shares outstanding 1, GAAP diluted net income (loss) per common share, Adjusted (non-GAAP) diluted net income per common share 2. Q4 Revenue: $968.0 million, increasing 7.6% year over year; Q4 Net Income per Share: $0.51 GAAP; $0.58 adjusted (non-GAAP) HANOVER, Md. One 10%-plus customer represented a total of 15.1% of revenue for the fiscal quarter, Three 10%-plus customers represented a total of 34.1% of revenue for the fiscal year, Cash and investments totaled $1,024.0 million, Cash flow from operations totaled $240.0 million and $413.1 million for the fiscal quarter and year, respectively, Average days' sales outstanding (DSOs) were 75 and 82 for the fiscal quarter and year, respectively, Accounts receivable balance was $724.9 million, Unbilled contract asset balance was $84.0 million. After submitting your information, you will receive an email. "; "Our innovation, diversification and scale uniquely position us to continue taking share while delivering improved operating margin and driving sustained EPS growth in 2020.". +1 (410) 694-5700 Overall, how easy was it to find the information you were looking for? https://www.businesswire.com/news/home/20191212005133/en/, Press Contact: Ciena® Corporation expects to announce its fiscal fourth quarter financial results on Thursday, December 10, 2020. For the fiscal fourth quarter 2020, Ciena reported revenue of $828.5 million as compared to $968.0 million for the fiscal fourth quarter 2019. Supplemental Materials and Live Web Broadcast of Unaudited Fiscal Fourth Quarter 2019 Results. Ciena assumes no obligation to update any forward-looking information included in this press release. Ciena's non-GAAP measures and the related adjustments may differ from non-GAAP measures used by other companies and should only be used to evaluate Ciena's results of operations in conjunction with our corresponding GAAP results. Forward-looking statements in this release include: "Our fiscal fourth quarter and full-year year 2020 performance reported today demonstrates that we have the innovation, diversification and global scale to perform well in a challenging environment." For fiscal year 2020, Ciena reported revenue of $3.53 billion, as compared to $3.57 billion for fiscal year 2019. For updates on Ciena, follow us on Twitter @Ciena, LinkedIn, the Ciena Insights blog, or visit www.ciena.com. … By delivering best-in-class networking technology through high-touch consultative relationships, we build the world’s most agile networks with automation, openness and scale. Weighted average diluted potential common shares outstanding used in calculating adjusted (non-GAAP) diluted net income per potential common share for fiscal 2019 includes 1.9 million shares underlying certain stock option and stock unit awards. All feedback provided is collected by Ciena. Shares of Ciena (NYSE: CIEN) decreased 4% in pre-market trading after the company reported Q4 results. The presentation of these non-GAAP financial measures should be considered in addition to Ciena's GAAP results and these measures are not intended to be a substitute for the financial information prepared and presented in accordance with GAAP. Additional subscriptions at any time used on a non-identifiable basis to help improve your website.... Financial performance rounded out an extraordinary year of industry-leading growth and profitability Quarter and the year Ended 31. Estimate by 23 cents software Company prior year in evaluating the operating performance of Ciena 's management will host! 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