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Ciena Lowers Revenue Projections As It Buys ONI SystemsCiena Lowers Revenue Projections As It Buys ONI Systems
Optical equipment vendor Ciena Corp. reported an adjusted net loss of $56.7 million on revenue of $162.2 million for its first quarter, ended Jan. 31, and lowered revenue projections for its second quarter.
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Optical equipment vendor Ciena Corp. (CIEN-Nasdaq) reported an adjusted net loss of $56.7 million on revenue of $162.2 million for its first quarter, ended Jan. 31, and lowered revenue projections for its second quarter. It also said it will gain significant business in metropolitan-area optical networking in a deal to buy ONI Systems, which specializes in this area. The acquisition would let Ciena offer customers end-to-end optical-networking platforms. The stock swap, valued at $900 million, is expected to close by the end of September.
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