$CIEN (+1,23 %) | Ciena Q4 Earnings Highlights
🔹 Revenue: $1.12B (Est. $1.1)😐; Flat YoY
🔹 Non-GAAP EPS: $0.54 (Est. $0.65) 🔴
🔹 Gross Margin: 40.9% (down 2.2% YoY)
Revenue by Segment:
🔹 Networking Platforms: $859M; 76.4% of revenue
◦ Optical Networking: $779.6M (+4.2% YoY)
◦ Routing & Switching: $79.4M (-38% YoY)
🔹 Platform Software & Services: $99.6M (+21% YoY)
🔹 Global Services: $142.0M (-5.7% YoY)
Revenue by Region:
🔹 Americas: $852.2M (76% of total revenue)
🔹 EMEA: $150.7M (-8% YoY)
🔹 Asia Pacific: $121.2M (-26% YoY)
Key Operational Metrics:
🔹 Cash Flow: $349.3M (Q4); $514.5M for FY2024
🔹 Cash & Investments: $1.33B at year-end
🔹 Headcount: 8,657
🔹 Inventory: $820.4M, with product turns of 2.7
Full-Year FY24:
🔹 Revenue: $4.01B (vs. $4.39B in FY23)
🔹 GAAP EPS: $0.58 (vs. $1.71 in FY2023)
🔹 Non-GAAP EPS: $1.82 (vs. $2.72 in FY2023)
🔹 Operating Margin: 4.1% (vs. 8.2% FY23)
Key Highlights:
🔸 Ciena repurchased 2.1M shares for $132M in Q4.
🔸 Optical Networking growth of 4.2% YoY reflects strength in Cloud and AI-driven demand.
🔸 CEO Gary Smith cited "positive industry dynamics" and increasing technology leadership as drivers for future growth.
Challenges:
🔸 Routing & Switching and Asia-Pacific revenue experienced significant declines, impacting overall results.
🔸 Margins compressed due to higher operating expenses and softer global demand.