Ciena announces strong quarterly figures, despite Covid 19 disruption

The company increased its revenues and its gross margin in the second quarter of 2020
Ciena, Q2, Financials, Telecoms

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Terrestrial and subsea connectivity specialist, Ciena, has announced a 3.4 per cent increase in Q2 revenues on a year-on-year basis.
Q2 revenues grew to $894.1 million in 2020, compared to $865 million in 2019. The company also increased its gross margin from 43.3 per cent in Q2 2019 to 46.2 per cent in the second quarter of 2020. 
“In this uncertain environment, we delivered industry leading financial performance during our second quarter, including strong revenue and outstanding profitability," said Gary Smith, president and CEO, Ciena.
"Our strategy, centred around innovation, diversification and global scale, has resulted in a resilient business capable of navigating challenging times and delivering strong shareholder value over the long-term."
Ciena's GAAP net income for the fiscal second quarter 2020 was $91.7 million, or $0.59 per diluted common share, which compares to a GAAP net income of $52.7 million, or $0.33 per diluted common share, for the fiscal second quarter 2019.
Ciena's adjusted (non-GAAP) net income for the fiscal second quarter 2020 was $117.4 million, or $0.76 per diluted common share, which compares to an adjusted (non-GAAP) net income of $76.2 million, or $0.48 per diluted common share, for the fiscal second quarter 2019.

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