Last quarter, Ciena posted a surprise loss despite solid revenues. This quarter it was the flip side of the coin on strong earnings per share on revenues that missed targets. Here are their fourth quarter numbers in some context:
|$ in millions||FQ1/14||FQ2/14||FQ3/14||FQ4/14||FQ1/15||FQ2/15
|-Software and Services||108.5||107.1||121.1||124.8||115.3|
Fiscal Q1 guidance had been $540-570M in revenue, which they fell short of due in part to revenue timing from US government contracts and foreign exchange fluctuations (i.e. strong dollar, which cut $10M off that number). Gross margins were higher than usual, and the company described order flow during the quarter as strong. Fiscal Q2 guidance was pretty much right where the analyst community thought it ought to be, however, despite the continued negative effects of the strong dollar on that number ($15M or so).