CIEN FY 2022 Earnings Report — Ciena Corporation Revenue & Financial Results | Market Cap Arena

Ciena CorporationCIEN

FY 2022 Earnings

Reported December 16, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$3.6B	—	$3.6B	—	0.3%
Op. Income	$257M	—	$527M	—	-51.2%
Gross Margin	39.4%	—	44.2%	—	-4.8pp
Net Margin	4.2%	—	13.8%	—	-9.6pp
EPS (Diluted)	$1.00	—	$3.19	—	-68.7%
Free Cash Flow	-$259M	—	$462M	—	-156.0%

Revenue Flow

Item	Amount
REVENUE	$3.6B
Cost of Revenue	$2.2B
GROSS PROFIT	$1.4B
R&D Expenses	$529M
Selling & Marketing	$467M
General & Administrative	$179M
SG&A Expenses	$646M
Other Expenses	$0
Operating Expenses	$1.2B
Cost & Expenses	$3.4B
OPERATING INCOME	$257M
Interest Income	$10M
Interest Expense	$47M
Other Income/Expenses	-$75M
INCOME BEFORE TAX	$183M
Income Tax Expense	$30M
Net Income from Continuing Ops	$153M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$153M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$153M
D&A	$140M
EBIT	$230M
EBITDA	$370M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.6B
Cost of Revenue	$2.2B
GROSS PROFIT	$1.4B
R&D Expenses	$529M
Selling & Marketing	$467M
General & Administrative	$179M
SG&A Expenses	$646M
Other Expenses	$0
Operating Expenses	$1.2B
Cost & Expenses	$3.4B
OPERATING INCOME	$257M
Interest Income	$10M
Interest Expense	$47M
Other Income/Expenses	-$75M
INCOME BEFORE TAX	$183M
Income Tax Expense	$30M
Net Income from Continuing Ops	$153M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$153M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$153M
D&A	$140M
EBIT	$230M
EBITDA	$370M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$153M
Depreciation & Amortization	$140M
Stock-Based Compensation	$105M
Deferred Income Tax	-$28M
Other Non-Cash Items	$34M
Change in Working Capital	-$572M
OPERATING CASH FLOW	-$168M
Capital Expenditure	-$91M
Acquisitions (Net)	-$62M
Purchases of Investments	-$652M
Sales/Maturities of Investments	$704M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$101M
Net Debt Issuance	$391M
Common Stock Repurchased	-$549M
Common Dividends Paid	$0
Other Financing Activities	$25M
NET CASH FROM FINANCING	-$133M
FREE CASH FLOW	-$259M
Net Change in Cash	-$428M

Balance Sheet

Item	Amount
Cash & Equivalents	$994M
Short-Term Investments	$154M
Net Receivables	$1.1B
Inventory	$947M
Other Current Assets	$71M
TOTAL CURRENT ASSETS	$3.4B
PP&E (Net)	$313M
Goodwill	$328M
Intangible Assets	$70M
Long-Term Investments	$35M
Tax Assets	$824M
Other Non-Current Assets	$114M
TOTAL NON-CURRENT ASSETS	$1.7B
TOTAL ASSETS	$5.1B
Account Payables	$516M
Short-Term Debt	$7M
Deferred Revenue	$138M
Other Current Liabilities	$193M
TOTAL CURRENT LIABILITIES	$1.0B
Long-Term Debt	$1.1B
Deferred Revenue NC	$62M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$97M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$2.4B
Common Stock	$1M
Additional Paid-In Capital	$6.4B
Retained Earnings	-$3.6B
Treasury Stock	$0
Accum. Other Comp. Income	-$47M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.7B
Minority Interest	$0
TOTAL EQUITY	$2.7B
TOTAL LIABILITIES & EQUITY	$5.1B
Total Debt	$1.2B
Net Debt	$192M