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Technology Stocks : Ciena (CIEN) -- Ignore unavailable to you. Want to Upgrade?

To: James Fulop who wrote (8058)	2/17/2000 4:50:00 PM
From: jghutchison	Respond to of 12623

James - great summary. Thanks again. "Ciena has cutting-edge technology, and optical networking is in the eye of the tornado." Or was it crest of a tsunami. Anyway, as uncle Tojo used to say, "sam dam ting". Jack

To: James Fulop who wrote (8058)	2/17/2000 4:51:00 PM
From: James Fulop	Read Replies (3) \| Respond to of 12623

CIENA Reports First Quarter Revenue of $152.2 million, Net Income of $0.06 per Diluted Share MultiWave CoreDirector? Optical Core Switch Trials on Schedule FOR IMMEDIATE RELEASE LINTHICUM, MD , February 17, 2000 ? CIENA Corporation (NASDAQ: CIEN) today reported revenue of $152.2 million for its first fiscal quarter ended January 31, 2000, an increase of approximately 52% as compared to the same period a year ago when the Company reported revenue of $100.4 million. Net income for the first quarter was $9.1 million, or $0.06 per diluted share. This compares with net income for the previous quarter of $4.5 million, or $0.03, per diluted share. For the same period in fiscal 1999, the Company reported a net loss of $1.9 million, or a loss of $0.01 per diluted share.1 CIENA continues to broaden its customer base, recognizing revenue during the first quarter from a total of 25 optical networking customers, an increase of 64% over 13 revenue-generating customers in the same period a year ago. The quarter included revenue from four customers from which the Company had not previously recorded revenue. "With the emergence of the real optical-level service enablers offered for the first time by CIENA in our recently announced LightWorks Toolkit?, optical networking is truly coming of age," said Patrick Nettles, CIENA president and chief executive officer. "Before the end of this year, the optical layer will be used to offer market differentiating services. That's when service providers really begin to reap benefits from the shift from legacy network architectures to next-generation, intelligent optical networks." During the quarter, CIENA shipped MultiWave CoreDirector?, the industry's first intelligent optical core switch, to a total of five trial customers, including announced trial customers Williams and iaxis. A sixth trial was rescheduled to accommodate changes in the customer's testing schedule. CIENA also disclosed it has received a substantial purchase order for long-distance optical transport equipment from a new undisclosed customer that, due to immediate demand from the customer, will involve substantial equipment shipments in the Company's second fiscal quarter. The Company expects these shipments will contribute materially to its reported revenue for the period, although its ability to recognize revenue will be dependent on successful achievement of a number of execution challenges. "Demand in all areas of optical networking - from core transport to metropolitan applications to core switching - appears strong and growing at both 2.5 and 10 gigabit per second transmission speeds, " concluded Nettles. "With a network-spanning product line and our world-wide support capabilities, CIENA is uniquely positioned to benefit from current robust market dynamics in the optical networking space." ciena.com