Ciena

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.

About 20 of High Street Partners' employees are based at its Annapolis headquarters. The rest of its 160 workers are spread around the world, from California to London to Shanghai — which makes sense, considering its niche. The company helps firms set up international operations and keep them humming, whether it's a U.S. corporation trying to break into Brazil or a European company expanding here. High Street is finding plenty of call for those services: Revenue increased by more than 50 percent in 2011, and the company expects to repeat the performance in 2012.

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.

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....

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.

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.

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.

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.

Ciena Corp. of Linthicum said yesterday that it will supply technology that increases optical fiber capacity to St. Louis-based Digital Teleport Inc. for a 250-mile route.Ciena said its "MultiWave 1600" system can multiply by 16 the capacity of a single optical fiber. The company's "dense wavelength division multiplexing system" works with existing fiber-optic systems that have a broad range of speeds and formats."Our contract with Digital Teleport represents our first deployment of the MultiWave 1600 as part of a newly built long-distance fiber-optic route," Ciena Chief Executive Pat Nettles said.

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....

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.

At least once a year, executives from Ciena Corp. spend a day at Johns Hopkins Hospital getting poked and prodded as they undergo tests for a barrage of potential ailments, from anemia to prostate cancer. They aren't necessarily feeling ill or showing any symptoms. In fact, the executives of Linthicum-based Ciena are often healthy — and their company wants to keep it that way. The $2,000-per-person prices for these full-body examinations are considered an essential corporate expense.

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.

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.

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.

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.

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.

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.

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.

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.