Ciena Q3 revenue down 12% YoY to $868M; adjusted EPS $0.33 vs $0.92; cites supplier shortages

CIENA CORP

2022-Q3 EPS reported $0.62 revenue$2,661,651,000

Revenue $868.0M, down 12.2% YoY from $988.1M; GAAP EPS $0.07 vs $1.52 (prior year had $124.2M tax benefit).
Adjusted (non-GAAP) net income $49.0M ($0.33/diluted share) vs $144.9M ($0.92) a year ago.
GAAP gross margin fell to 39.3% from 48.0%; adjusted gross margin 40.0% vs 48.5%.
CEO cites late delivery and substantially lower-than-committed volumes from a small number of suppliers.
Repurchased 3.2M shares for $155M during the quarter; cash and investments $1.3B.

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