Ciena (CIEN) FY2011 results: revenue $1.7 billion, up 40.9% on the year
Ciena Corp. (CIEN) reported revenue of $1.7 billion for fiscal 2011, the year ended 31 October 2011, up 40.9% on the year before. Net income was -$196 million, and diluted earnings per share $-2.04. The figures are the company's own, from the 10-K it filed with the SEC on 22 December 2011.
Revenue
$1.7 billion
+40.9% on the year
FY2008FY2011
Operating margin
-9.4%
-26.0% a year earlier
FY2008FY2011
Net income
-$196 million
FY2008FY2011
Diluted EPS
-$2.04
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
1,742
1,237
653
+40.9%
Cost of revenue
1,033
739
368
+39.7%
Gross profit
709
498
285
+42.5%
Gross margin
40.7%
40.2%
43.6%
Research and development
380
328
190
+15.9%
Operating income
-163
-322
-579
Operating margin
-9.4%
-26.0%
-88.8%
Interest expense
37.9
18.6
7.4
+103.7%
Pre-tax income
-188
-332
-582
Income tax
7.7
1.9
-1.3
+295.3%
Net income
-196
-334
-581
Net margin
-11.2%
-27.0%
-89.0%
Diluted EPS
-$2.04
-$3.58
-$6.37
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
-90.5
-229
7.4
Capital expenditure
52.4
51.2
24.1
+2.3%
Free cash flow
-143
-280
-16.7
Free cash flow margin
-8.2%
-22.7%
-2.6%
Cash from investing
-68.6
-199
-74.2
Cash from financing
13.2
630
1.1
-97.9%
Depreciation and amortisation
130
142
46.8
-8.7%
Share-based compensation
37.9
35.6
34.4
+6.7%
Diluted shares, weighted
96m
93m
91m
+3.0%
Shares outstanding at period end
97m
94m
92m
+3.6%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
13.9
159
456
-91.3%
Debt
1,442
1,443
n/a
-0.0%
Other liabilities
495
516
1,049
-4.1%
Total liabilities and equity
1,951
2,118
1,504
-7.9%
Fixed assets
123
120
61.9
+1.9%
Goodwill
0.0
0.0
0.0
Intangible assets
332
426
60.8
-22.2%
Investments
50.3
0.0
571
Cash and equivalents
542
689
486
-21.3%
Receivables
418
344
118
+21.5%
Inventory
230
262
88.1
-12.1%
Other assets
257
277
118
-7.2%
Total assets
1,951
2,118
1,504
-7.9%
10-K for the year ended 31 October 2011, filed 22 December 2011: the filing.