For fiscal year 2022 (November 2021–October 2022), Ciena reported revenue of USD 3.63 billion, as compared to USD 3.62 billion for fiscal year 2021. For fiscal fourth quarter 2022, Ciena reported revenue of USD 971.0 million as compared to USD 1.04 billion for the fiscal fourth quarter 2021.
Ciena’s GAAP net income for fiscal year 2022 was USD 152.9 million as compared to GAAP net income of USD 500.2 million for fiscal year 2021. Ciena’s adjusted (non-GAAP) net income for the fiscal year 2022 was USD 288.9 million as compared to adjusted (non-GAAP) net income of USD 456.5 million for fiscal year 2021.
Two customers each represented 10 percent-plus of revenue for the fiscal fourth quarter and fiscal year 2022, combining for a total of 25.6 percent of revenue for the fiscal fourth quarter and 23 percent of revenue for the fiscal year 2022.
Ciena India Private Limited
Standalone profit and loss statement ( ₹ crore)
|Revenue from operations||763.84||626.99|
|EPS (diluted) (₹)||34.96||24.86|
Inventories totalled USD 946.7 million, including USD 664.9 million of raw materials, USD 18.2 million of work in process, and USD 258.6 million for finished goods and Deferred cost of sales amounted to USD 41.1 million. Ciena Corporation currently has 8079 employees.
Balance sheet ( ₹ crore)
|Total equity and liabilities||658.74||596.01|
In the routing and switching portfolio, quarterly revenue was up nearly 40 percent year-over-year in Q4 as Ciena Corporation benefited from the addition of the Vyatta Solutions and organic portfolio enhancements.
GAAP-Unaudited (USD mn)
|Gross margin (%)||43.0||47.6||(4.6)%|
|Operating margin (%)||6.1||13.7||(7.6)%|
*Denotes % change, or in the case of margin, absolute change
During Q4, the company reached a milestone of more than 200 Adaptive IP customers, fuelled by momentum in coherent routing, metro aggregation, PON, and high-speed business services. And it continues to invest in its next-gen metro and edge strategy, particularly in its routing and switching portfolio.
Ciena Corporation recently closed the acquisition of Benu Networks, and announced that plans to acquire Tibit Communications, which is expected to close in Q1’23. These acquisitions will enable the company to build upon its existing strategic investments in fiber broadband access and pursue a larger set of opportunities in this market segment.
Statement of operations (USD mn)
|Cost of goods sold|
|Total cost of goods sold||2072.32||1898.70|
Specifically, the addition of advanced subscriber management and next-generation PON technologies will advance its ability to address fast-growing applications, including residential broadband, enterprise business services, and fixed-wireless access. This also represents a significant addressable market expansion for Ciena, and is expected to be a considerable investment area for many of its customers.
Consolidated unaudited balance sheet (USD mn)
|Total liabilities and stockholders’ equity||5069.63||4865.23|
In optical, Ciena added 15 new customers for WaveLogic 5e in Q4, bringing the total global customer count to more than 200 with more than 50,000 WaveLogic 5e modems shipped to date. In Blue Planet, the company won several new logos during the year, while expanding its presence at a number of Tier-I service providers.
Revenue by region (Unaudited) (USD mn)
|Europe, Middle East, and Africa||555.2||670.5|
Additionally, the strategic win at DISH has now gone live with both its inventory and service order orchestration solutions. And, the network transformation services grew 50 percent year-over-year, reflecting the increased demand from customers to move from legacy to next-generation networks. And, with respect to diversification, its non-telco revenue was approximately 40 percent for the year. And, within that, 4 of the top 10 customers were major web scalers. And, like last year, the company had more than USD 1 billion in orders from web-scale customers in FY’22, once again demonstrating continued strong demand from this key customer segment.
CEO, President & Director,
“Our strong fiscal fourth quarter financial results were better than expected as we benefited from some favorable supply chain developments in the second half of the quarter.
Looking ahead, we expect to deliver outsized revenue growth in fiscal 2023 given our significant backlog and continued signs of gradual supply improvement. And, we remain confident that the durability of secular demand drivers and our strategic investments to expand our addressable market position us to deliver strong revenue growth over the next several years.”
|Revenue by segment (Unaudited)|
|Converged Packet Optical||2380.0||2553.5|
|Routing and Switching||398.4||271.8|
|Total Networking Platforms||2778.4||2825.3|
|Platform Software and Services||277.2||229.6|
|Blue Planet Automation Software and Services||76.6||77.2|
|Maintenance Support and Training||292.4||283.4|
|Installation and Deployment||157.4||171.5|
|Consulting and Network Design||50.7||33.7|