Ciena Posts $160 Million Loss

Ciena ( CIEN) lost $160 million, or 42 cents a share, on revenue of $50 million in its third quarter and said revenue for the current quarter would trail expectations. The bottom-line loss reflected acquisition- and inventory-related charges.

The optical components maker included the standard roll call of profitability measures in its earnings release. It said that on a GAAP basis excluding charges related to deferred compensation, amortization of intangible assets, restructuring and doubtful accounts, it lost 23 cents a share in the period. Further adjusted for the inventory writedown, it lost 16 cents a share, although it noted that wasn't a GAAP number.

Analysts forecast a loss of 19 cents a share for the Linthicum, Md., company.

"Service providers' re-evaluation of their networks and their business models has resulted in uncertainty and volatility in the telecom equipment industry, but we believe longer-term, this process will provide the opportunity for new leaders to emerge," Ciena said in the release.

The company said fourth-quarter revenue should be unchanged from to slightly higher than its third-quarter revenue. Analysts polled by First Call had been predicting revenue of about $78 million.

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