secwatch.observer — SEC 8-K summary
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Issuer:     CIENA CORP (CIEN)
CIK:        0000936395
Form:       8-K
Filed at:   2022-09-01T23:59:59+00:00
Accession:  0000936395-22-000049
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/936395/000093639522000049/0000936395-22-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/936395/000093639522000049/a8-k2022q3earningsrelease.htm
  HTML page:      https://secwatch.observer/filing/0000936395-22-000049

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer