CIENA reports 87% increase in fiscal 2001 revenue over fiscal 2000

December 13, 2001-- CIENA Corporation (NASDAQ: CIEN) reported revenue of $367.8 million for its fourth fiscal quarter ended October 31, 2001. The results increased more than 27% compared to revenues of $287.6 million for the same period a year ago.

Adjusted net income per diluted share, after excluding a goodwill impairment charge, restructuring costs, deferred stock compensation charges, payroll taxes on stock option exercises and amortization of intangibles and goodwill was $17.1 million, or $0.05, earnings per diluted share. Reported, or GAAP, net loss for the period was $1,802.3 million, or a loss of $5.51 per diluted share.

For the twelve months ended October 31, 2001, CIENA reported revenue of $1,603.2 million, an 87% increase over revenue of $858.8 million for fiscal year 2000. For the fiscal year 2001, exclusive of a goodwill impairment charge, restructuring costs, deferred stock compensation charges, in-process research and development, provision for doubtful accounts, settlement of accrued contract obligations, payroll taxes on stock option exercises and amortization of intangibles and goodwill, CIENA's adjusted net income totaled $195.3 million, or $0.60, earnings per diluted share, an increase of 94% compared to fiscal year 2000 adjusted net income of $100.8 million, or $0.34, earnings per diluted share.