Ciena Corporation (CIEN) gained 1.02% to $20.81 in the pre-market session Thursday after it reported fiscal-first quarter 2015 earnings.
The network specialist handed in non-GAAP earnings of $0.12 per share on revenue of $529.2 million, beating Wall Street EPS estimates of $0.03 on revenue of $558.95 million. On a GAAP basis, Ciena’s net loss for 1Q’15 was $18.8 million, or $0.17 per share, which compares to a GAAP net loss of $15.9 million, or $0.15 per share, yoy.
“Our first quarter performance is highlighted by continued customer diversification, an expanding portfolio, and strong profitability. While order timing and foreign exchange headwinds impacted revenue in the quarter, we delivered improved gross margin and excellent operating profit,” said in a statement Gary B. Smith, president and CEO of Ciena.
For Q2’15, Ciena Corp issued revenue projection of $585-$615 million, compared to the consensus revenue estimate of $597.36 million.
On valuation measures, Ciena Corp. shares, trade at a forward P/E of 14.21 and a P/E to growth ratio of 1.17. The median Wall Street price target on the name is $25.00 with a high target of $32.00. Currently ticker boasts 18 ‘Buy’ endorsements, compared to 4 ’Holds’ and no ‘Sell’.
Profitability-wise, CIEN has a t-12 profit and operating margin of (1.78%) and 2.01%, respectively. The $2.20 billion market cap company reported $586.72 million in cash vs. $1.27 billion in debt in its most recent quarter.
CIEN currently prints a one year loss of about 16.60% and a year-to-date return of around 6.10%.
Ciena Corp. is an expert in packet and optical networking and distributed software automation. The company, which provides network and communication infrastructure services to corporations, was founded in 1992 and is headquartered in Hanover, Maryland.