Ciena Corporation (NYSE:CIEN) Files An 8-K Results of Operations and Financial Condition
ITEM 2.02 – RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On December 13, 2018, Ciena Corporation ("Ciena") issued a press release announcing its financial results for its fourth fiscal quarter ended October 31, 2018. 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 fiscal quarter ended October 31, 2018.
In conjunction with the issuance of this press release, Ciena posted to the quarterly results page of the Investors section of www.ciena.commanagement's prepared remarks and an accompanying investor presentation. The prepared remarks 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, as well as 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 13, 2018, Ciena announced that its Board of Directors has authorized a program to repurchase up to $500 million of the company’s common stock. This program replaces Ciena's previously authorized share repurchase program.
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.
ITEM 9.01 – FINANCIAL STATEMENTS AND EXHIBITS
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CIENA CORP Exhibit About Ciena Corporation (NYSE:CIEN) Ciena Corporation is a network specialist that focuses on providing communications networking solutions. The Company operates through four segments: Converged Packet Optical, Packet Networking, Optical Transport, and Software and Services. Its Converged Packet Optical portfolio includes networking solutions optimized for the convergence of coherent optical transport, optical transport network (OTN) switching and packet switching. Its Optical Transport products include stand-alone wavelength-division multiplexing (WDM) and synchronous optical networking/synchronous digital hierarchy (SONET/SDH)-based optical transport solutions. Its Packet Networking portfolio includes 8700 Packetwave platform, a multi-terabit packet switching platform for high-density metro networks and inter-data center wide area networks. Its software business consists of the development and licensing of element and network management software, and software-related services that support its hardware offerings. |