Ciena Q1 revenue up 11.5% to $844M; GAAP EPS $0.29, adj EPS $0.47, margins down YoY

CIENA CORP

2022-Q1 EPS reported $0.29 revenue$844,443,000

Revenue $844.4M (+11.5% YoY); GAAP net income $45.8M ($0.29 diluted EPS) vs $55.3M ($0.35) YoY.
Adjusted net income $72.6M ($0.47 diluted EPS) vs $81.3M ($0.52) YoY; adj gross margin 46.2% down from 48.0%.
Americas revenue $595.1M (70.5% of total); one customer accounted for 13.1% of revenue.
Entered $250M ASR; completed in Q2 with ~3.6M shares repurchased. Cash and investments $1.7B.
CEO cites strong orders growth; expects supply chain capacity improvement in H2.

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