Ciena Corp - CIEN STOCK NEWS

Ciena Corporation (NYSE: CIEN) announced the availability of proxy materials for its 2022 Annual Meeting of Stockholders, scheduled for March 31, 2022, at 3:00 p.m. ET. The event will be facilitated by President and CEO Gary B. Smith and Senior Vice President David M. Rothenstein. Stockholders can attend virtually, ask questions, and vote using a control number included in their notice. More details and proxy materials are available at Ciena's Investor Relations website.

Ciena Corporation (NYSE: CIEN) announced preliminary financial results for fiscal Q1 2022, expecting revenue between $840 and $850 million, lower than the previous estimate of $870 to $910 million. The GAAP gross margin is projected at 44%-45%, while the adjusted gross margin may reach 45%-46%. Although supply chain disruptions negatively impacted operations, demand for products remains strong, with Ciena projecting 11%-13% annual growth for fiscal 2022. Full Q1 results are set to be released on March 7, 2022.

The NO-UK submarine cable system has successfully achieved an 800Gb/s line rate, utilizing Ciena’s GeoMesh Extreme technology. This advanced system connects Norway and the UK via a 700km route, offering eight fiber pairs. With enhanced capacity and lower energy consumption, it promises superior service to customers. Developed by Altibox Carrier, the cable is expected to meet evolving business demands efficiently. Ciena's technology pushes the boundaries of submarine networks, ensuring cost-effective, high-capacity communication for both regions.

Internet2 has successfully transitioned its research and education network to a new fifth-generation backbone, enhancing capacity and efficiency. This upgrade features optical layers capable of supporting up to 32 terabits per segment and 8-16 petabits per second of port capacity. The network aims to reduce power consumption by 70% and supports vast data movement needs, having transferred over 2.75 exabytes in 2021. The initiative, carried out with key partners including Cisco and Ciena, promotes easier workflow for scientific collaboration while adapting to challenges posed by the ongoing pandemic.

Ciena has partnered with Vodafone Idea to enhance its network capabilities by deploying advanced 5G-ready coherent optical solutions. This collaboration aims to support increasing consumer demands for data and improve service resiliency with the new 300G/400G backbone network. The upgrade focuses on maximizing fiber capacity and energy efficiency, allowing for scalable and cost-effective connectivity across India. The investment in Ciena's technology is anticipated to prepare Vodafone Idea for future digital growth and emerging technologies such as IoT and cloud computing.

Ciena (NYSE: CIEN) has partnered with Gulf Bridge International (GBI) to enhance GBI’s Smart Network capacity by 10 Tb/s using Ciena’s GeoMesh Extreme technology. This significant upgrade aims to support increasing internet traffic demands across the Gulf Cooperation Council (GCC), Europe, and India, particularly in anticipation of major sporting events in Qatar. Ciena's WaveLogic 5 Extreme technology will optimize design capacity and reduce costs, allowing GBI to better serve its clients, including Internet Content Providers.

Ciena Corporation (NYSE: CIEN) has announced a private offering of $400 million in 4.00% Senior Notes due 2030. The offering is set to close on January 18, 2022. Interest on the Notes will be paid semi-annually starting July 31, 2022. The company plans to utilize the proceeds for general corporate purposes. The Notes will be solely offered to qualified institutional buyers and non-U.S. persons, adhering to the Securities Act regulations.

Ciena Corporation (NYSE: CIEN) has initiated a private offering of Senior Notes maturing in 2030, subject to market conditions. The Notes will be guaranteed by certain domestic subsidiaries. The company plans to utilize the net proceeds from this offering for general corporate purposes. The offering will comply with Rule 144A and Regulation S under the Securities Act, targeting qualified institutional buyers and non-U.S. persons. Notably, this offering will not be registered under the Securities Act, limiting its availability.

Ciena Corporation (NYSE: CIEN) has announced an accelerated share repurchase (ASR) agreement with Goldman Sachs to buy back $250 million of its common stock, part of a broader $1 billion share repurchase program. The company will fund the ASR with cash on hand and operational cash flow. Ciena will make an initial payment to Goldman and receive about 2.7 million shares based on a stock price of $74.12. Final transactions are expected to close by the end of April 2022.