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Before turning the call over to Gary, I'll remind you that during this call, we will be making certain forward-looking statements. Such statements are based on current expectations, forecasts and assumptions regarding the company that include risk and uncertainties that could cause actual results to differ materially from the statements discussed today. These statements should be viewed in the context of the risk factors detailed in our most recent 10-Q filing. Our 10-Q is required to be filed with the SEC by September 6, and we expect to file by that date. Ciena assumes no obligation to update the information discussed in this conference call, whether as a result of new information, future events or otherwise.Today's discussion includes certain adjusted or non-GAAP measures of Ciena's results of operations. A detailed reconciliation of these non-GAAP measures to our GAAP results is included in today's press release available on ciena.com. This call is being recorded and will be available for replay on the Investors section of our website. Gary? Gary B. Smith Thanks, Gregg, and good morning, everyone. This morning, we announced solid third quarter results that were in line with expectations. With revenue of $474 million and positive operating margin, we continued to generate cash from operations and achieved positive free cash flow. We believe that our performance in Q3 represents good progress, executing against our strategy and our long-term goals for gaining operating leverage, especially in a challenging economic environment. There are a number of areas where we believe we are executing particularly well. Firstly, we continue to derive packet-optical convergence across the entire portfolio by uniting platforms via control plane and by sharing more software-centric functionality across those platforms. Secondly, we are beginning to deploy some of our recent design wins while also winning new business. Both of these will help drive future growth. And thirdly, we are driving balanced investments in our industry-leading portfolio and market strategies while also managing expenses carefully.
Our execution in each of these areas helped us make important strides across all parts of our business in the third quarter. We're expanding our presence in the important packet-optical metro market, as evidenced by a major Tier 1 win in North America this quarter for the 6500 platform. We also shipped 100-Gig to 2 new global Tier 1s, which, when combined with other new deployments in the quarter, expands the total number of customers using our WaveLogic technology to over 120.In switching, although we are still in the early stages of the 5400 product life cycle, we are seeing broader and faster market adoption from the 5400 than we saw for CoreDirector. We are now beginning deployments of the top 3 major North American carriers, and we're seeing a robust global pipeline for 5400 opportunities, including several large international networks. And in our Carrier Ethernet Solutions portfolio, Heavy Reading again named us as the North American market leader for the first half of 2012. We have completely refreshed the portfolio, and now we are focused on expanding carrier ethernet beyond access and into aggregation, as well as integrating our packet capabilities across the rest of the portfolio. I'm also pleased with the market response to our open architecture launch. As many of you may recall from analyst day, Open is both a network vision and a deliverable architecture that we're using to guide our product development and our overall market approach. It combines multiple facets of optical and packet networking with software and open interfaces. And these are areas where Ciena offers industry-leading expertise to help our customers simplify and dramatically shift the cost curve of performance on-demand networking. Broadly, Open aims to do 3 things: first, use intelligence to create economical exponential scale; secondly, to apply advanced control plane software to make the network, as a whole, programmable, not just individual ports or systems; and then use network level applications to direct the behavior of that programmable network as a single platform infrastructure, while using open interfaces to orchestrate network resources alongside those of computing and storage in a virtualized environment. Read the rest of this transcript for free on seekingalpha.com