Ciena has posted its fiscal Q4 results this morning. With its off-month reporting schedule, Ciena gives us a quick look at how things have been going in the sector. So how was it?
Revenues of $744.4M were on the high end of expectations. Non-GAAP net income was $0.46 per share, up two pennies from the same period last year but four pennies shy of the consensus analayst estimate. Packet networking sales led the way, as did the EMEA region.
Meanwhile, Ciena has authorized a stock buyback program, contemplating the repurchase of $300M of its own stock over the next three years.
After an initial drop in the pre-market, the company's stock price is trading up a couple percent so far.
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