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Ciena +7% on Q4 beats, three-year target update

Published 12/13/2018, 07:44 AM
© Reuters.  Ciena +7% on Q4 beats, three-year target update
CIEN
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  • Ciena (NASDAQ:CIEN) gains 6.7% premarket on Q4 results that beat estimates with a 21% Y/Y revenue growth.
  • Revenue breakdown: Products, $743.9M; Services, $155.5M.
  • Share repurchase: The board authorizes a new repurchase program of up to $500M, replacing the previous plan.
  • Three-year targets: In its investor presentation, Ciena says it sees adjusted EPS growing at an average of 20%+ per year over the next three years, increasing the target on expectations of higher growth and continued operating margin improvement. Adjusted operating margin expected at 15% for FY20 and at least 15% in FY21. FCF target remains at about 60% to 70% of operating income over the three-year period.
  • Earnings call is scheduled for 8:30 AM ET with a webcast available here.
  • Press release.
  • Previously: Ciena beats by $0.05, beats on revenue (Dec. 13)
  • Now read: DocuSign reports Q3 beats with upside guide, exec changes


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