Ciena Reports Fiscal Second Quarter 2016 Financial Results

June 2, 2016 at 8:00 AM EDT

HANOVER, Md.--(BUSINESS WIRE)--Jun. 2, 2016-- Ciena® Corporation (NYSE: CIEN), the network specialist, today announced unaudited financial results for its fiscal second quarter ended April 30, 2016.

For the fiscal second quarter 2016, Ciena reported revenue of $640.7 million as compared to $621.6 million for the fiscal second quarter 2015.

On the basis of generally accepted accounting principles (GAAP), Ciena's net income for the fiscal second quarter 2016 was $14.0 million, or $0.10 per diluted common share, which compares to a GAAP net income of $20.7 million, or $0.17 per diluted common share, for the fiscal second quarter 2015.

Ciena's adjusted (non-GAAP) net income for the fiscal second quarter 2016 was $52.4 million, or $0.34 per diluted common share, which compares to an adjusted (non-GAAP) net income of $47.3 million, or $0.35 per diluted common share, for the fiscal second quarter 2015.

"This quarter's strong financial performance is a result of the investments we've made to diversify our business, in particular the expansion of our packet business and our momentum in key geographies," said Gary B. Smith, president and CEO, Ciena. "As the industry shifts toward an on-demand networking model across an open ecosystem, we are confident in our ability to address those demands with a broader set of customers, applications and geographies to deliver sustainable long-term growth and increased profitability."

Fiscal Second Quarter 2016 Performance Summary

The tables below (in millions, except percentage data) provide comparisons of certain quarterly results to prior periods, including sequential quarter and year-over-year changes. A reconciliation between the GAAP and adjusted (non-GAAP) measures contained in this release is included in Appendix A.

     
    GAAP Results
    Q2   Q1   Q2   Period Change
    FY 2016   FY 2016   FY 2015   Q-T-Q*   Y-T-Y*
Revenue   $ 640.7     $ 573.1     $ 621.6     11.8 %   3.1 %
Gross margin   44.2 %   43.9 %   43.8 %   0.3 %   0.4 %
Operating expense   $ 254.9     $ 240.2     $ 230.0     6.1 %   10.8 %
Operating margin   4.4 %   2.0 %   6.8 %   2.4 %   (2.4 )%
                               
     
    Non-GAAP Results
    Q2   Q1   Q2   Period Change
    FY 2016   FY 2016   FY 2015   Q-T-Q*   Y-T-Y*
Revenue   $ 640.7     $ 573.1     $ 621.6     11.8 %   3.1 %
Adj. gross margin   45.1 %   44.7 %   44.4 %   0.4 %   0.7 %
Adj. operating expense   $ 222.6     $ 208.4     $ 207.9     6.8 %   7.1 %
Adj. operating margin   10.3 %   8.3 %   10.9 %   2.0 %   (0.6 )%
                               

* Denotes % change, or in the case of margin, absolute change

     
    Revenue by Segment
    Q2 FY 2016   Q1 FY 2016   Q2 FY 2015
    Revenue   %**   Revenue   %**   Revenue   %**
Networking Platforms                        
Converged Packet Optical   $ 435.2   67.9   $ 389.2   67.9   $ 432.9   69.6
Packet Networking   68.5   10.7   48.2   8.4   53.3   8.6
Optical Transport   8.5   1.3   12.1   2.1   16.5   2.7
Total Networking Platforms   512.2   79.9   449.5   78.4   502.7   80.9
                         
Software and Software-Related Services                        
Software Platforms   11.8   1.9   8.1   1.4   9.2   1.5
Software-Related Services   18.7   2.9   17.3   3.0   14.7   2.4
Total Software and Software-Related Services   30.5   4.8   25.4   4.4   23.9   3.9
                         
Global Services                        
Maintenance Support and Training   57.1   8.9   56.1   9.8   53.1   8.5
Installation and Deployment   30.2   4.7   30.8   5.4   30.7   4.9
Consulting and Network Design   10.7   1.7   11.3   2.0   11.2   1.8
Total Global Services   98.0   15.3   98.2   17.2   95.0   15.2
                         
Total   $ 640.7   100.0   $ 573.1   100.0   $ 621.6   100.0
                               

Additional Performance Metrics for Fiscal Second Quarter 2016

     
    Revenue by Geographic Region
    Q2 FY 2016   Q1 FY 2016   Q2 FY 2015
    Revenue   % **   Revenue   % **   Revenue   % **
North America   $ 395.5   61.7   $ 392.7   68.5   $ 397.2   63.9
Europe, Middle East and Africa   96.2   15.0   80.7   14.1   102.2   16.4
Caribbean and Latin America   57.9   9.0   43.8   7.6   47.9   7.7
Asia Pacific   91.1   14.3   55.9   9.8   74.3   12.0
Total   $ 640.7   100.0   $ 573.1   100.0   $ 621.6   100.0
                               

** Denotes % of total revenue

  • U.S. customers contributed 57.3% of total revenue
  • One customer accounted for greater than 10% of revenue and represented 18% of total revenue
  • Cash and investments totaled $1,242.4 million
  • Cash flow from operations totaled $60.7 million
  • Average days' sales outstanding (DSOs) were 78
  • Accounts receivable balance was $555.1 million
  • Inventories totaled $190.9 million, including:
    • Raw materials: $50.6 million
    • Work in process: $12.9 million
    • Finished goods: $120.4 million
    • Deferred cost of sales: $70.4 million
    • Reserve for excess and obsolescence: $(63.4) million
  • Product inventory turns were 6.1
  • Headcount totaled 5,418

Business Outlook for Fiscal Third Quarter 2016

Statements relating to business outlook are forward-looking in nature and actual results may differ materially. These statements should be read in the context of each of the "Forward-Looking Statements" and "Non-GAAP Presentation of Quarterly Results" found in the Notes to Investors below.

Ciena expects fiscal third quarter 2016 financial performance to include:

  • Revenue in the range of $655 to $685 million
  • Adjusted (non-GAAP) gross margin in the mid-40s percentage range
  • Adjusted (non-GAAP) operating expense of approximately $225 million

Live Web Broadcast of Unaudited Fiscal Second Quarter 2016 Results

Ciena will host a discussion of its unaudited fiscal second quarter 2016 results with investors and financial analysts today, Thursday, June 2, 2016 at 8:30 a.m. (Eastern). The live broadcast will be available at www.ciena.com, and an archived replay will be available shortly following the conclusion of the live broadcast on the Investor Relations page of Ciena's website at www.ciena.com/investors. Ciena will also post to the Investor Relations page a presentation that includes certain highlighted information discussed on the call and certain historical results of operations.

Notes to Investors

Forward-Looking Statements. You are encouraged to review the Investors section of our website, where we routinely post press releases, SEC filings, recent news, financial results, and other announcements. From time to time we exclusively post material information to this website along with other disclosure channels that we use. This press release contains certain forward-looking statements that involve risks and uncertainties. These statements are based on current expectations, forecasts, assumptions and other information available to the Company as of the date hereof. Forward-looking statements include statements regarding Ciena's expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words. Forward-looking statements in this release include: "This quarter's strong financial performance is a result of the investments we've made to diversify our business, in particular the expansion of our packet business and our momentum in key geographies."; "As the industry shifts toward an on-demand networking model across an open ecosystem, we are confident in our ability to address those demands with a broader set of customers, applications and geographies to deliver sustainable long-term growth and increased profitability."; "Ciena expects fiscal third quarter 2016 financial performance to include: Revenue in the range of $655 to $685 million; Adjusted (non-GAAP) gross margin in the mid-40s percentage range; Adjusted (non-GAAP) operating expense of approximately $225 million."

Ciena's actual results, performance or events may differ materially from these forward-looking statements made or implied due to a number of risks and uncertainties relating to Ciena's business, including: the effect of broader economic and market conditions on our customers and their business; changes in network spending or network strategy by large communication service providers; seasonality and the timing and size of customer orders, including our ability to recognize revenue relating to such sales; the level of competitive pressure we encounter; the product, customer and geographic mix of sales within the period; supply chain disruptions and the level of success relating to efforts to optimize Ciena's operations; changes in foreign currency exchange rates affecting revenue and operating expense; and the other risk factors disclosed in Ciena's Report on Form 10-Q, which Ciena filed with the Securities and Exchange Commission on March 9, 2016. Ciena assumes no obligation to update any forward-looking information included in this press release.

Non-GAAP Presentation of Quarterly Results. This release includes non-GAAP measures of Ciena's gross profit, operating expense, income (loss) from operations, net income (loss) and net income (loss) per share. In evaluating the operating performance of Ciena's business, management excludes certain charges and credits that are required by GAAP. These items share one or more of the following characteristics: they are unusual and Ciena does not expect them to recur in the ordinary course of its business; they do not involve the expenditure of cash; they are unrelated to the ongoing operation of the business in the ordinary course; or their magnitude and timing is largely outside of Ciena's control. Management believes that the non-GAAP measures below provide management and investors useful information and meaningful insight to the operating performance of the business. The presentation of these non-GAAP financial measures should be considered in addition to Ciena's GAAP results and these measures are not intended to be a substitute for the financial information prepared and presented in accordance with GAAP. Ciena's non-GAAP measures and the related adjustments may differ from non-GAAP measures used by other companies and should only be used to evaluate Ciena's results of operations in conjunction with our corresponding GAAP results. To the extent not previously disclosed in a prior Ciena financial results press release, Appendix A to this press release sets forth a complete GAAP to non-GAAP reconciliation of the non-GAAP measures contained in this release.

With respect to Ciena’s expectations under “Business Outlook for Fiscal Third Quarter 2016” above, Ciena is not able to provide a quantitative reconciliation of the adjusted (non-GAAP) gross margin and adjusted (non-GAAP) operating expense guidance measures to the corresponding gross profit and gross profit percentage, and operating expense GAAP measures without unreasonable efforts. Ciena cannot provide meaningful estimates of the non-recurring charges and credits excluded from these non-GAAP measures due to the forward-looking nature of these estimates and their inherent variability and uncertainty. For the same reasons, Ciena is unable to address the probable significance of the unavailable information.

About Ciena. Ciena (NYSE: CIEN) is the network specialist. We collaborate with customers worldwide to unlock the strategic potential of their networks and fundamentally change the way they perform and compete. Ciena leverages its deep expertise in packet and optical networking and distributed software automation to deliver solutions in alignment with its OPn architecture for next-generation networks. We enable a high-scale, programmable infrastructure that can be controlled and adapted by network-level applications, and provide open interfaces to coordinate computing, storage and network resources in a unified, virtualized environment. For updates on Ciena news, follow us on Twitter @Ciena or on LinkedIn.

 
CIENA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
         
    Quarter Ended April 30,   Six Months Ended April 30,
    2016   2015   2016   2015
Revenue:                
Products   $ 523,978     $ 511,880     $ 981,567     $ 934,195  
Services   116,739     109,722     232,265     216,569  
Total revenue   640,717     621,602     1,213,832     1,150,764  
Cost of goods sold:                
Products   291,778     286,898     552,260     523,446  
Services   65,846     62,293     127,029     124,612  
Total cost of goods sold   357,624     349,191     679,289     648,058  
Gross profit   283,093     272,411     534,543     502,706  
Operating expenses:                
Research and development   114,603     105,202     222,649     205,963  
Selling and marketing   86,668     82,471     169,146     159,183  
General and administrative   35,203     30,302     66,345     59,855  
Acquisition and integration costs   2,285     1,020     3,584     1,020  
Amortization of intangible assets   15,566     11,019     32,428     22,038  
Restructuring costs   535     (17 )   919     8,068  
Total operating expenses   254,860     229,997     495,071     456,127  
Income from operations   28,233     42,414     39,472     46,579  
Interest and other income (loss), net   967     (5,549 )   (7,809 )   (13,782 )
Interest expense   (12,608 )   (12,947 )   (25,318 )   (26,608 )
Income before income taxes   16,592     23,918     6,345     6,189  
Provision for income taxes   2,595     3,265     3,894     4,315  
Net income   $ 13,997     $ 20,653     $ 2,451     $ 1,874  
                 
Net Income per Common Share                
Basic net income per common share   $ 0.10     $ 0.18     $ 0.02     $ 0.02  
Diluted net income per potential common share1   $ 0.10     $ 0.17     $ 0.02     $ 0.02  
                 
Weighted average basic common shares outstanding   137,950     113,555     137,313     110,578  
Weighted average dilutive potential common shares outstanding2   138,889     128,017     138,693     111,762  
                         
     
1.   The calculation of GAAP diluted net income per common share for the second quarter of fiscal 2015 requires adding back interest expense of approximately $1.4 million associated with Ciena's 0.875% convertible senior notes, due June 15, 2017 to the GAAP net income in order to derive the numerator for the diluted earnings per common share calculation.
     
2.   Weighted average dilutive potential common shares outstanding used in calculating GAAP diluted net income per common share for the second quarter of fiscal 2016 includes 0.9 million shares underlying certain stock options and restricted stock units.
     
    Weighted average dilutive potential common shares outstanding used in calculating GAAP diluted net income per common share for the first six months of fiscal 2016 includes 1.4 million shares underlying certain stock options and restricted stock units.
     
    Weighted average dilutive potential common shares outstanding used in calculating GAAP diluted net income per common share for the second quarter of fiscal 2015 includes 1.4 million shares underlying certain stock options and restricted stock units and 13.1 million shares underlying Ciena's 0.875% convertible senior notes, due June 15, 2017.
     
    Weighted average dilutive potential common shares outstanding used in calculating GAAP diluted net income per common share for the first six months of fiscal 2015 includes 1.2 million shares underlying certain stock options and restricted stock units.
     
 
CIENA CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)
(unaudited)
         
   

April 30,
2016

 

October 31,
2015

ASSETS        
Current assets:        
Cash and cash equivalents   $ 922,033     $ 790,971  
Short-term investments   195,179     135,107  
Accounts receivable, net   555,056     550,792  
Inventories   190,861     191,162  
Prepaid expenses and other   214,920     196,178  
Total current assets   2,078,049     1,864,210  
Long-term investments   125,233     95,105  
Equipment, building, furniture and fixtures, net   248,649     191,973  
Goodwill   267,681     256,434  
Other intangible assets, net   184,920     202,673  
Other long-term assets   77,051     84,656  
Total assets   $ 2,981,583     $ 2,695,051  
LIABILITIES AND STOCKHOLDERS’ EQUITY        
Current liabilities:        
Accounts payable   $ 225,237     $ 222,140  
Accrued liabilities   283,096     316,283  
Deferred revenue   116,799     126,111  
Current portion of long-term debt   5,000     2,500  

Total current liabilities

  630,132     667,034  
Long-term deferred revenue   70,233     62,962  
Other long-term obligations   106,817     72,540  
Long-term debt, net   1,505,389     1,271,639  
Total liabilities   $2,312,571   $2,074,175
Commitments and contingencies        
Stockholders’ equity:        
Preferred stock – par value $0.01; 20,000,000 shares authorized; zero shares issued and outstanding        
Common stock – par value $0.01; 290,000,000 shares authorized; 138,008,639 and 135,612,217 shares issued and outstanding   1,380     1,356  
Additional paid-in capital   6,679,590     6,640,436  
Accumulated other comprehensive loss   (15,619 )   (22,126 )
Accumulated deficit   (5,996,339 )   (5,998,790 )
Total stockholders’ equity   669,012     620,876  
Total liabilities and stockholders’ equity   $ 2,981,583     $ 2,695,051  
                 
     
CIENA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
     
    Six Months Ended April 30,
    2016   2015
Cash flows provided by operating activities:        
Net income   $ 2,451     $ 1,874  
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation of equipment, building, furniture and fixtures, and amortization of leasehold improvements   30,237     27,322  
Share-based compensation costs   29,210     22,136  
Amortization of intangible assets   40,488     26,439  
Provision for inventory excess and obsolescence   20,104     10,834  
Provision for warranty   9,563     7,658  
Other   8,578     10,266  
Changes in assets and liabilities:        
Accounts receivable   (4,865 )   (46,630 )
Inventories   (19,022 )   27,952  
Prepaid expenses and other   (7,670 )   (15,621 )
Accounts payable, accruals and other obligations   (29,400 )   (28,982 )
Deferred revenue   (3,992 )   16,694  
Net cash provided by operating activities   75,682     59,942  
Cash flows used in investing activities:        
Payments for equipment, furniture, fixtures and intellectual property   (53,050 )   (21,899 )
Restricted cash       (44 )
Purchase of available for sale securities   (199,994 )   (130,239 )
Proceeds from maturities of available for sale securities   110,000     90,000  
Settlement of foreign currency forward contracts, net   (4,834 )   10,364  
Acquisition of business, net of cash acquired   (32,000 )    
Purchase of cost method investment       (2,000 )
Net cash used in investing activities   (179,878 )   (53,818 )
Cash flows provided by (used in) financing activities:        
Proceeds from issuance of term loan, net   248,750      
Payment of long term debt   (15,264 )   (8,190 )
Payment for debt and equity issuance costs   (3,778 )   (247 )
Payment of capital lease obligations   (3,769 )   (4,745 )
Proceeds from issuance of common stock   9,968     9,980  
Net cash provided by (used in) financing activities   235,907     (3,202 )
Effect of exchange rate changes on cash and cash equivalents   (649 )   (3,304 )
Net increase (decrease) in cash and cash equivalents   131,062     (382 )
Cash and cash equivalents at beginning of period   790,971     586,720  
Cash and cash equivalents at end of period   $ 922,033     $ 586,338  
Supplemental disclosure of cash flow information        
Cash paid during the period for interest   $ 19,620     $ 21,882  
Cash paid during the period for income taxes, net   $ 6,991     $ 5,811  
Non-cash investing activities        
Purchase of equipment in accounts payable   $ 11,437     $ 11,733  
Equipment acquired under capital lease   $ 3,012     $  
Building subject to capital lease   $ 8,993     $ 10,032  
Construction in progress subject to build-to-suit lease   $ 21,606     $  
Non-cash financing activities        
Conversion of 4.0% convertible senior notes, due March 15, 2015 into 8,898,387 shares of common stock       180,645  
             
 
APPENDIX A - Reconciliation of Adjusted (Non- GAAP) Quarterly Measurements
         
    Quarter Ended April 30,
    2016   2015
Gross Profit Reconciliation        
GAAP gross profit   $ 283,093     $ 272,411  
Share-based compensation-products   629     653  
Share-based compensation-services   693     574  
Amortization of intangible assets   4,315     2,201  
Total adjustments related to gross profit   5,637     3,428  
Adjusted (non-GAAP) gross profit   $ 288,730     $ 275,839  
Adjusted (non-GAAP) gross profit percentage   45.1 %   44.4 %
         
Operating Expense Reconciliation        
GAAP operating expense   $ 254,860     $ 229,997  
Share-based compensation-research and development   3,791     2,534  
Share-based compensation-sales and marketing   3,923     3,841  
Share-based compensation-general and administrative   4,968     3,723  
Share-based compensation-acquisition and integration   697      
Acquisition and integration costs, excluding share-based compensation   1,588     1,020  
Amortization of intangible assets   15,566     11,019  
Restructuring costs   535     (17 )
Settlement of patent litigation   1,200      
Total adjustments related to operating expense   32,268     22,120  
Adjusted (non-GAAP) operating expense   $ 222,592     $ 207,877  
         
Income from Operations Reconciliation        
GAAP income from operations   $ 28,233     $ 42,414  
Total adjustments related to gross profit   5,637     3,428  
Total adjustments related to operating expense   32,268     22,120  
Adjusted (non-GAAP) income from operations   $ 66,138     $ 67,962  
Adjusted (non-GAAP) operating margin percentage   10.3 %   10.9 %
         
Net Income Reconciliation        
GAAP net income   $ 13,997     $ 20,653  
Total adjustments related to gross profit   5,637     3,428  
Total adjustments related to operating expense   32,268     22,120  
Non-cash expense associated with the conversion of convertible notes       768  
Non-cash interest expense   460     371  
Adjusted (non-GAAP) net income   $ 52,362     $ 47,340  
         
Weighted average basic common shares outstanding   137,950   113,555
Weighted average dilutive potential common shares outstanding 1   178,026   158,917
         
Net Income per Common Share        
GAAP diluted net income per common share   $ 0.10     $ 0.17  
Adjusted (non-GAAP) diluted net income per common share 2   $ 0.34     $ 0.35  
                 
     
1.   Weighted average dilutive potential common shares outstanding used in calculating Adjusted (non-GAAP) diluted net income per common share for the second quarter of fiscal 2016 includes 0.9 million shares underlying certain stock options and restricted stock units, 12.6 million shares underlying Ciena's 0.875% convertible senior notes, due June 15, 2017, 17.4 million shares underlying Ciena's 3.75% convertible senior notes, due October 15, 2018 and 9.2 million shares underlying Ciena's 4.0% convertible senior notes, due December 15, 2020.
     
   

Weighted average dilutive potential common shares outstanding used in calculating Adjusted (non-GAAP) diluted net income per common share for the second quarter of fiscal 2015 includes 1.4 million shares underlying certain stock options and restricted stock units, 4.3 million shares underlying Ciena's 4.0% convertible senior notes, due March 15, 2015 (which were paid at maturity during the second quarter of fiscal 2015), 13.1 million shares underlying Ciena's 0.875% convertible senior notes, due June 15, 2017, 17.4 million shares underlying Ciena's 3.75% convertible senior notes, due October 15, 2018 and 9.2 million shares underlying Ciena's 4.0% convertible senior notes, due December 15, 2020.

     
2.   The calculation of Adjusted (non-GAAP) diluted net income per common share for the second quarter of fiscal 2016 requires adding back interest expense of approximately $1.3 million associated with Ciena's 0.875% convertible senior notes, due June 15, 2017, approximately $3.6 million associated with Ciena's 3.75% convertible senior notes, due October 15, 2018 and approximately $2.9 million associated with Ciena's 4.0% convertible senior notes, due December 15, 2020 to the Adjusted (non-GAAP) net income in order to derive the numerator for the Adjusted earnings per common share calculation.
     
    The calculation of Adjusted (non-GAAP) diluted net income per common share for the second quarter of fiscal 2015 requires adding back interest expense of approximately $1.1 million associated with Ciena's 4.0% convertible senior notes, due March 15, 2015 (which were paid at maturity during the second quarter of fiscal 2015), approximately $1.4 million associated with Ciena's 0.875% convertible senior notes, due June 15, 2017, approximately $3.6 million associated with Ciena's 3.75% convertible senior notes, due October 15, 2018 and approximately $2.8 million associated with Ciena's 4.0% convertible senior notes, due December 15, 2020 to the Adjusted (non-GAAP) net income in order to derive the numerator for the Adjusted earnings per common share calculation.
     

The adjusted (non-GAAP) measures above and their reconciliation to Ciena's GAAP results for the periods presented reflect adjustments relating to the following items:

  • Share-based compensation expense - a non-cash expense incurred in accordance with share-based compensation accounting guidance.
  • Acquisition and integration costs - consist of expenses for financial, legal and accounting advisors and severance and other employee related costs, associated with our acquisition of Cyan, Inc. on August 3, 2015 and our acquisition of certain high-speed photonic component assets from TeraXion, Inc. on February 1, 2016. Ciena does not believe that these costs are reflective of its ongoing operating expense following its completion of these integration activities.
  • Amortization of intangible assets - a non-cash expense arising from the acquisition of intangible assets, principally developed technologies and customer-related intangibles, that Ciena is required to amortize over its expected useful life.
  • Restructuring costs - costs incurred as a result of restructuring activities taken to align resources with perceived market opportunities.
  • Settlement of Patent Litigation - included in general and administrative expense is a $1.2 million patent litigation settlement during the second quarter of fiscal 2016.
  • Non-cash expense associated with the conversion of convertible notes - a non-cash expense related to certain private exchange offers conducted with several holders of Ciena's 4.0% senior convertible notes due March 15, 2015 prior to maturity of such notes.
  • Non-cash interest expense - a non-cash debt discount expense amortized as interest expense during the term of Ciena's 4.0% senior convertible notes due December 15, 2020 relating to the required separate accounting of the equity component of these convertible notes.

 

Source: Ciena Corporation

Ciena Corporation
Press Contact:
Nicole Anderson, 877-857–7377
pr@ciena.com
or
Investor Contact:
Gregg Lampf, 877-243–6273
ir@ciena.com