Ciena has posted its first quarter financials this morning, and they seem to have made the markets happy although. It's early yet, with the investor call and Q2 outlook still to come.
Revenues checked in at $646.1M, up 4% over the same period last year.and a few million above expectations. The company's core Converged Packet Optical revenues were up a bit, but it was in Software Platforms that Ciena saw the biggest gains. Geographically, it was EMEA and APAC that did the heavy lifting, while demand was slightly weaker than the prior year in the Americas.
Adjusted earnings per share of $0.15 were three pennies ahead of composite analyst projections. On the other hand, Adjusted EBITDA fell to $61.8M for the quarter due to higher expenses than in the prior year.
The unadjusted numbers also included some big non-cash tax-related charges due to changes in deferred tax assets and some repatriation of foreign earnings.