Ciena® Corporation (NYSE: CIEN), a networking systems, services and software company, recently stated unaudited financial results for its financial 3rd-quarter finished July 31, 2k19.
- Q3 Revenue: $960.60M, increasing 17.30% year over year
- Q3 Net Income for each Share: $0.550 GAAP; $0.710 adjusted (non-GAAP)
- Share Repurchases: Repurchased about 1.10M shares of common stock for an aggregate price of $45.40M during the quarter
For the fiscal 3rd-quarter 2k19, Ciena stated revenue of $960.60M as contrast to $818.80M for the fiscal 3rd-quarter 2k18.
Ciena’s GAAP net income for the fiscal 3rd-quarter 2k19 was $86.70M, or $0.550 for each diluted common share, which compares to a GAAP net income of $50.80M, or $0.340 for each diluted common share, for the fiscal 3rd-quarter 2k18.
Ciena’s adjusted (non-GAAP) net income for the fiscal 3rd-quarter 2k19 was $112.30M, or $0.710 for each diluted common share, which compares to an adjusted (non-GAAP) net income of $74.30M, or $0.480 for each diluted common share, for the fiscal 3rd-quarter 2k18.
- Two 10.00%-plus customers represented a total of 25.00% of revenue
- Cash and investments totalled $842.90M
- Cash flow from operations totalled $83.10M
- Average days’ sales outstanding (DSOs) were 82
- Accounts receivable balance was $798.90M
- Unbilled contract asset balance was $74.30M
- Inventories totalled $356.80M, counting:
- Raw materials: $102.20M
- Work in process: $15.50M
- Finished goods: $193.50M
- Deferred cost of sales: $93.40M
- Reserve for excess and obsolescence: $(47.80)M
- Product inventory turns were 5.10
- Headcount totalled 6,368