Ciena misses by $0.07, reports revs in-line; acquires Packet Design
- Reports Q2 (Apr) earnings of $0.23 per share, $0.07 worse than the Capital IQ Consensus of $0.30; revenues rose 3.3% year/year to $730 mln vs the $726.38 mln Capital IQ Consensus.
- Adj. gross margin 40.7% vs. low-to-mid 40% range guidance.
- Co will acquire privately-held Packet Design, LLC, a provider of network performance management software focused on Layer 3 network optimization, topology and route analytics. The acquisition is intended to accelerate Ciena's Blue Planet software strategy, extending its intelligent automation capabilities into IP with critical new features that help customers optimize service delivery and maximize network utilization.
- Co will update guidance in prepared remarks/on the call.