Ciena Corporation (NYSE:CIEN) Files An 8-K Results of Operations and Financial ConditionITEM 2.02 – RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On December 7, 2017, Ciena Corporation ("Ciena") issued a press release announcing its financial results for its fourth quarter ended October 31, 2017. The text of the press release is furnished as Exhibit 99.1 to this Report. As discussed in this press release, Ciena will be hosting an investor call to discuss its results of operations for its fourth quarter ended October 31, 2017.
In conjunction with the issuance of this press release, Ciena posted to the quarterly results page of the Investors section of www.ciena.coman audio recording of management commentary providing greater context for Ciena's performance to date and its strategy, as well as certain long-term financial targets, and an accompanying investor presentation. A transcript of the recording and related investor presentation are furnished as Exhibits 99.2 and 99.3 to this Report.
The information in Exhibits 99.1, 99.2 and 99.3 and Item 2.02 of this Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement to the Securities Act of 1933, as amended. Investors are encouraged to review the “Investors” page of our website at www.ciena.com because, as with the other disclosure channels that we use, from time to time we may post material information exclusively on that site.
ITEM 8.01 – OTHER EVENTS
On December 7, 2017, Ciena announced that its Board of Directors has authorized a program to repurchase up to $300 million of the company’s common stock through the end of fiscal 2020. Ciena may purchase shares at management’s discretion in the open market, in privately negotiated transactions, in transactions structured through investment banking institutions, or a combination of the foregoing. Ciena may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its shares under this authorization. The amount and timing of repurchases are subject to a variety of factors including liquidity, cash flow, stock price, and general business and market conditions. The program may be modified, suspended or discontinued at any time.
The text of the press release is attached as Exhibit 99.4 to this Report.
ITEM 9.01 – FINANCIAL STATEMENTS AND EXHIBITS
CIENA CORP ExhibitEX-99.1 2 exhibit9912017q4pressrelea.htm EXHIBIT 99.1 Exhibit FOR IMMEDIATE RELEASECiena Reports Fiscal Fourth Quarter 2017 and Year-End Financial ResultsHANOVER,…To view the full exhibit click