HANOVER, Md.: Ciena® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal fourth quarter ended November 2, 2024.

• Q4 Revenue: $1.12 billion

• Q4 Net Income per Share: $0.25 GAAP; $0.54 adjusted (non-GAAP)

• Share Repurchases: Repurchased approximately 2.1 million shares of common stock for an aggregate price of $132.0 million during the quarter

"Our Q4 revenue and strong order flow reflect our significant and increasing technology leadership and positive industry dynamics," said Gary Smith, president and CEO, Ciena. "As Cloud and AI drive bandwidth demand across the network, we are positioned for accelerated revenue growth and market share expansion moving forward."

For fiscal fourth quarter 2024, Ciena reported revenue of $1.12 billion as compared to $1.13 billion for the fiscal fourth quarter 2023. For fiscal year 2024, Ciena reported revenue of $4.01 billion, as compared to $4.39 billion for fiscal year 2023.

Ciena's GAAP net income for the fiscal fourth quarter 2024 was $37.0 million, or $0.25 per diluted common share, which compares to a GAAP net income of $91.2 million, or $0.62 per diluted common share, for the fiscal fourth quarter 2023. For fiscal year 2024, Ciena's GAAP net income was $84.0 million, or $0.58 per diluted common share, as compared to GAAP net income of $254.8 million, or $1.71 per diluted common share, for fiscal year 2023.

Ciena's adjusted (non-GAAP) net income for the fiscal fourth quarter 2024 was $79.3 million, or $0.54 per diluted common share, which compares to an adjusted (non-GAAP) net income of $111.2 million, or $0.75 per diluted common share, for the fiscal fourth quarter 2023. For fiscal year 2024, Ciena's adjusted (non-GAAP) net income was $266.3 million, or $1.82 per diluted common share, as compared to adjusted (non-GAAP) net income of $406.3 million, or $2.72 per diluted common share, for fiscal year 2023.

Performance Summary For Fiscal Fourth Quarter and Year Ended November 2, 2024

The tables below (in millions, except percentage data) provide comparisons of certain quarterly and annual results to the prior year. Appendices A and B set forth reconciliations between the GAAP and adjusted (non-GAAP) measures contained in this release.

* Denotes % change, or in the case of margin, absolute change

		Revenue by Segment (unaudited)
		Year Ended
		November 2, 2024					October 28, 2023
		Revenue			%**		Revenue			%**
Networking Platforms
Optical Networking		$	2,642.6		65.8		$	2,987.3		68.1
Routing and Switching			399.5		10.0			506.2		11.5
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