IoT
Feature
News
5/24/2002
05:34 PM
50%
50%
RELATED EVENTS
The Analytics Job and Salary Outlook for 2016
Jan 28, 2016
With data science and big data top-of-mind for all types of organizations, hiring analytics profes ...Read More>>

Ciena's Plunge

Ciena Corp. continued its financial free fall, posting another quarter of losses last week. "We're seeing our customers go to extreme measures to preserve cash," president and CEO Gary Smith says. For its second quarter, ended April 30, the optical transmission and switching equipment maker lost $612.2 million on revenue of $87.1 million, down from a $50.7 million loss on $425.4 million for the same quarter a year ago.

With the telecom industry in a severe downturn and no relief in sight, Smith predicts that Ciena's third quarter will be no better than its second. Its results "are indicative of a really bad market rather than the company's performance," says Ron Kline, an analyst at research firm RHK. It's been hit particularly hard, he says, by the drop-off in long-haul service providers' spending.

Comment  | 
Print  | 
More Insights
Register for InformationWeek Newsletters
White Papers
Current Issue
How to Knock Down Barriers to Effective Risk Management
Risk management today is a hodgepodge of systems, siloed approaches, and poor data collection practices. That isn't how it should be.
Video
Slideshows
Twitter Feed
InformationWeek Radio
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.