Ciena continues to prosper with its focus on what it’s calling converged Ethernet-based networking, reporting revenues of $216.2 million in its Q4 2007, ended Oct. 31; that figure is up 35 percent compared with last year, and up 5.5 percent sequentially. That led to a $30.4 million profit.
For the full year of 2007, net income was $82.8 million, up from just $600,000 in fiscal 2006.
Separately, Ciena announced that BT has selected its CN 3000 Ethernet Access Series as one of its preferred Network Termination Equipment (NTE) platforms for the operator’s 21st Century Network.
Ciena already supplies BT with optical Ethernet transport and switching products.
Ciena has also named James E. Moylan Jr., 56, to succeed outgoing CFO Joseph Chinnici. Most recently, Moylan was EVP and CFO at Swett & Crawford – a private, equity-owned wholesale insurance broker.
Gary Smith, Ciena’s president and CEO, said: “As we look into fiscal 2008, we believe Ciena is poised to benefit not only from capacity-related growth, but also from the transition to next-generation, converged Ethernet-based network infrastructures. We believe that Ciena’s focus on targeted segments of growth markets will enable us to continue to grow faster than our overall market. We expect to deliver up to 5 percent sequential revenue growth in our fiscal first quarter and 20 percent annual revenue growth in fiscal 2008.”