CIEN FY 2021 Earnings Report — Ciena Corporation Revenue & Financial Results | Market Cap Arena

Ciena CorporationCIEN

FY 2021 Earnings

Reported December 17, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$3.6B	—	$3.5B	—	2.5%
Op. Income	$527M	—	$514M	—	2.7%
Gross Margin	44.2%	—	43.5%	—	0.8pp
Net Margin	13.8%	—	10.2%	—	3.6pp
EPS (Diluted)	$3.19	—	$2.32	—	37.5%
Free Cash Flow	$462M	—	$411M	—	12.4%

Revenue Flow

Item	Amount
REVENUE	$3.6B
Cost of Revenue	$2.0B
GROSS PROFIT	$1.6B
R&D Expenses	$440M
Selling & Marketing	$452M
General & Administrative	$182M
SG&A Expenses	$634M
Other Expenses	$0
Operating Expenses	$1.1B
Cost & Expenses	$3.1B
OPERATING INCOME	$527M
Interest Income	$2M
Interest Expense	$31M
Other Income/Expenses	-$65M
INCOME BEFORE TAX	$463M
Income Tax Expense	-$37M
Net Income from Continuing Ops	$500M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$500M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$500M
D&A	$132M
EBIT	$494M
EBITDA	$626M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$3.6B
Cost of Revenue	$2.0B
GROSS PROFIT	$1.6B
R&D Expenses	$440M
Selling & Marketing	$452M
General & Administrative	$182M
SG&A Expenses	$634M
Other Expenses	$0
Operating Expenses	$1.1B
Cost & Expenses	$3.1B
OPERATING INCOME	$527M
Interest Income	$2M
Interest Expense	$31M
Other Income/Expenses	-$65M
INCOME BEFORE TAX	$463M
Income Tax Expense	-$37M
Net Income from Continuing Ops	$500M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$500M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$500M
D&A	$132M
EBIT	$494M
EBITDA	$626M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$500M
Depreciation & Amortization	$132M
Stock-Based Compensation	$84M
Deferred Income Tax	-$156M
Other Non-Cash Items	$49M
Change in Working Capital	-$68M
OPERATING CASH FLOW	$542M
Capital Expenditure	-$80M
Acquisitions (Net)	$5M
Purchases of Investments	-$173M
Sales/Maturities of Investments	$157M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$91M
Net Debt Issuance	-$10M
Common Stock Repurchased	-$135M
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	-$117M
FREE CASH FLOW	$462M
Net Change in Cash	$334M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.4B
Short-Term Investments	$181M
Net Receivables	$1.0B
Inventory	$374M
Other Current Assets	$44M
TOTAL CURRENT ASSETS	$3.2B
PP&E (Net)	$329M
Goodwill	$312M
Intangible Assets	$65M
Long-Term Investments	$70M
Tax Assets	$800M
Other Non-Current Assets	$100M
TOTAL NON-CURRENT ASSETS	$1.7B
TOTAL ASSETS	$4.9B
Account Payables	$356M
Short-Term Debt	$7M
Deferred Revenue	$118M
Other Current Liabilities	$160M
TOTAL CURRENT LIABILITIES	$909M
Long-Term Debt	$670M
Deferred Revenue NC	$57M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$104M
TOTAL NON-CURRENT LIABILITIES	$936M
TOTAL LIABILITIES	$1.8B
Common Stock	$2M
Additional Paid-In Capital	$6.8B
Retained Earnings	-$3.8B
Treasury Stock	$0
Accum. Other Comp. Income	$439.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.0B
Minority Interest	$0
TOTAL EQUITY	$3.0B
TOTAL LIABILITIES & EQUITY	$4.9B
Total Debt	$804M
Net Debt	-$619M