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Politics : Formerly About Applied Materials

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To: StanX Long who wrote (60884)	2/22/2002 1:28:34 AM
From: StanX Long	Read Replies (1) of 70976

Ciena Revenue Falls Sharply in Quarter washingtonpost.com By Yuki Noguchi Washington Post Staff Writer Friday, February 22, 2002; Page E01 Ciena Corp. reported yesterday that revenue fell 54 percent in its first quarter and warned that revenue in the current quarter will be much lower than the fiber-optics maker forecast just two weeks ago. Two of the Linthicum, Md.-based firm's biggest customers canceled or delayed their orders Wednesday evening, which altered sales projections, said Gary B. Smith, chief executive of the firm. Smith said he expects second-quarter revenue to fall to about $100 million -- far short of the $162.2 million in first-quarter sales that the company previously said it would match. During its first fiscal quarter, which ended Jan. 31, Ciena's revenue fell 54 percent and its losses mounted to $70.6 million (22 cents per share), the company announced yesterday. That compares with revenue of nearly $352 million and net income of $53.2 million, or 19 cents per share during the same period last year.

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