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BUSINESS
December 31, 2009
Canadian regulatory authorities on Wednesday approved Ciena Corp.'s $769 million planned purchase of a subsidiary of Nortel Networks Corp. Ciena outbid rivals last month to acquire Nortel's Metro Ethernet Networks division in a deal that would make the Linthicum-based company North America's largest purveyor of fiber-optic networking gear and the third largest in the world. Ciena and Nortel, which is based in Canada and operating under bankruptcy protection, needed to receive approval from that country's Minister of Industry for the deal to go through.
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HEALTH
By Meredith Cohn, The Baltimore Sun | February 14, 2014
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BUSINESS
By Gus G. Sentementes | gus.sentementes@baltsun.com | March 5, 2010
Ciena Corp., a Linthicum-based maker of telecommunications networking equipment, posted worse-than-expected quarterly financial results Thursday, leading to a 4 percent drop in the price of its shares. The company missed its revenue expectations during a time when analysts and investors are closely watching how it deals with operational challenges. This month, Ciena is expected to close on its purchase of Nortel's Metro Ethernet Networks division, which it acquired for $769 million and which will effectively double Ciena's size.
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | June 8, 2011
Ciena Corp. on Wednesday posted lower-than-expected earnings for the second quarter of 2011, driving its shares lower in Wall Street trading. The Linthicum-based company, which makes optical networking gear for telecommunications providers, reported a loss of $22.4 million, or 24 cents per share, on revenues of $417.9 million for the quarter ended April 30. Wall Street analysts had expected a loss of 18 cents per share, according to MarketWatch....
BUSINESS
April 3, 2010
Network specialist Ciena Corp., based in Linthicum, has granted 1.7 million shares to 195 new employees. The workers were employed in connection with Ciena's acquisition of the optical networking and carrier ethernet assets of Nortel's Metro Ethernet Networks business. The awards include 100,000 to Philippe Morin, Ciena's new senior vice president of the global products group. The awards are effective April 1. One-fourth of the grant amount will vest on June 20, 2011, and in equal one-twelfth amounts each calendar quarter thereafter over the following three years, provided that the employee continues employment with Ciena.
BUSINESS
By Gus G. Sentementes | gus.sentementes@baltsun.com | March 4, 2010
Ciena Corp., a Linthicum-based maker of telecommunications networking equipment, posted worse-than-expected quarterly financial results on Thursday, leading to a short drop in its shares. The company missed its revenue expectations during a time when analysts and investors are closely watching how it deals with operational challenges. Later this month, Ciena is expected to close on its purchase of Nortel's Metro Ethernet Networks division, which it acquired for $769 million and which will effectively double Ciena's size.
BUSINESS
Gus G. Sentementes | gus.sentementes@baltsun.com | November 24, 2009
In an acquisition that will double its size, Ciena Corp. said Monday that it will buy the optical-networking assets of Nortel Networks Corp. for $769 million. The purchase - set to close in the first quarter next year - would make Linthicum-based Ciena the largest provider of fiber-optic networking gear in North America, and the third largest in the world. "This is a transformational deal, not just for Ciena, but for the industry," said Gary Smith, Ciena's president and chief executive officer.
BUSINESS
July 3, 1997
Ciena Corp. of Linthicum said yesterday that it completed its second stock offering, raising cash for expansion and allowing insiders to take profits after the company's initial offering in February.Ciena said it sold 1 million shares at $44 each, and insiders sold an additional 8.1 million shares. The biggest individual seller was founder David Huber, who left in May after deciding he wanted to work on more basic fiber-optic research than Ciena needed in the short term.Ciena shares closed at $44.1875 yesterday, up 6.25 cents, in Nasdaq trading.
BUSINESS
By Tricia Bishop and Tricia Bishop,Sun reporter | December 14, 2007
Despite reporting a sharp increase in income for both the fiscal fourth quarter and the year, shares of Linthicum's Ciena Corp. sank 12 percent yesterday after the fiber-optics maker missed analysts' expectations and provided a lower estimate for 2008 earnings than Wall Street was anticipating. Profit for the quarter ending Oct. 31 was $30.4 million, or 30 cents per share, more than double the $13 million (14 cents per share) for the comparable quarter last year. Annual income was $82.8 million, or 87 cents per share, compared with a fiscal 2006 profit of about $600,000, or 1 cent per share.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | January 19, 2005
Ciena Corp. of Linthicum filed a federal lawsuit yesterday against Nortel Networks Inc. accusing the Canadian telecom giant of infringing on six of its patents. The filing was made the day after a two-year legal cease-fire between the two companies expired - also ending talks in which the two companies were unable to reach a licensing agreement, Ciena said. Ciena and Nortel "had agreed not to sue each other during a two-year period for patent infringement, with the idea that the two would each reach agreement on cross-licensing technology," said Nicole Anderson, a spokeswoman for Ciena.
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | March 7, 2011
Shares of Ciena Corp., a Linthicum-based maker of telecommunications networking equipment, slid 10 percent Monday after the company posted a fiscal first-quarter loss and predicted that revenues in the second quarter would be lower than expected. The company's net loss widened to $79 million this past quarter compared with $53 million a year ago, largely because of integration costs tied to its purchase last year of Nortel's Metro Ethernet Networks division for $769 million. Ciena said it tallied more than $24 million in merger costs in the first quarter.
BUSINESS
By Hanah Cho, The Baltimore Sun | September 8, 2010
Ciena Corp., a Linthicum-based maker of telecommunications networking equipment, said Wednesday its loss widened in the fiscal third quarter partly because of costs associated with the purchase of Nortel's Metro Ethernet Networks division. Net loss for the quarter ending July 31 was $109.9 million, or $1.18 per share, compared with a loss of $26.5 million, or 29 cents per share, in the corresponding period last year. Revenue for the quarter was $389.7 million, which includes $221.8 million from the Metro Ethernet Networks business.
BUSINESS
April 3, 2010
Network specialist Ciena Corp., based in Linthicum, has granted 1.7 million shares to 195 new employees. The workers were employed in connection with Ciena's acquisition of the optical networking and carrier ethernet assets of Nortel's Metro Ethernet Networks business. The awards include 100,000 to Philippe Morin, Ciena's new senior vice president of the global products group. The awards are effective April 1. One-fourth of the grant amount will vest on June 20, 2011, and in equal one-twelfth amounts each calendar quarter thereafter over the following three years, provided that the employee continues employment with Ciena.
BUSINESS
By Gus G. Sentementes | gus.sentementes@baltsun.com | March 5, 2010
Ciena Corp., a Linthicum-based maker of telecommunications networking equipment, posted worse-than-expected quarterly financial results Thursday, leading to a 4 percent drop in the price of its shares. The company missed its revenue expectations during a time when analysts and investors are closely watching how it deals with operational challenges. This month, Ciena is expected to close on its purchase of Nortel's Metro Ethernet Networks division, which it acquired for $769 million and which will effectively double Ciena's size.
BUSINESS
By Gus G. Sentementes | gus.sentementes@baltsun.com | March 4, 2010
Ciena Corp., a Linthicum-based maker of telecommunications networking equipment, posted worse-than-expected quarterly financial results on Thursday, leading to a short drop in its shares. The company missed its revenue expectations during a time when analysts and investors are closely watching how it deals with operational challenges. Later this month, Ciena is expected to close on its purchase of Nortel's Metro Ethernet Networks division, which it acquired for $769 million and which will effectively double Ciena's size.
BUSINESS
December 31, 2009
Canadian regulatory authorities on Wednesday approved Ciena Corp.'s $769 million planned purchase of a subsidiary of Nortel Networks Corp. Ciena outbid rivals last month to acquire Nortel's Metro Ethernet Networks division in a deal that would make the Linthicum-based company North America's largest purveyor of fiber-optic networking gear and the third largest in the world. Ciena and Nortel, which is based in Canada and operating under bankruptcy protection, needed to receive approval from that country's Minister of Industry for the deal to go through.
BUSINESS
September 30, 1998
Ciena Corp. said yesterday that it has opened a sales office in Beijing. The opening marks another step in the Linthicum company's effort to sell its telecommunications equipment in Asia."
BUSINESS
May 23, 1998
Shares of Ciena Corp. slipped as much as 6.6 percent yesterday due to uncertainty about future orders from WorldCom Inc. and AT&T Corp.The Linthicum-based telecommunications network equipment company's stock closed at $49.25 on the Nasdaq stock market, down $2.8125.Ciena had discussed the orders' status in a statement accompanying its fiscal second-quarter earnings report, which was released after the close of markets on Thursday.The company said it still expects to meet its yearly revenue target of $603 million.
BUSINESS
December 15, 2009
Price names successor for fixed-income division Baltimore money manager T. Rowe Price Group said Monday that its global head of trading will take over for Mary J. Miller, director of the nearly $100 billion fixed-income division, who is stepping down Friday because she has been nominated for a Treasury Department job. Mike Gitlin, who has more than 16 years of experience with global capital markets, joined T. Rowe Price in 2007. Miller - nominated in October - needs U.S. Senate approval to become the Treasury Department's assistant secretary for financial markets.
BUSINESS
December 15, 2009
NEW YORK - Shares of Linthicum-based Ciena Corp. took a hit Monday after Standard & Poor's announced the telecommunications equipment maker would be replaced by Visa Inc. on the S&P 500 index. S&P said Friday that Visa would take Ciena's place on the index Dec. 18 because Ciena is one of several companies in the index no longer representative of the market indicator. Dynegy Inc., KB Home Inc. and Convergys Corp. are being dropped from the S&P 500, too. Ciena provides communications networking equipment, software and services.
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