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Ciena

BUSINESS
December 5, 2004
A weekly briefing on the economic calendar Monday Earnings reports: Jos. A. Bank, Navistar, VistaCare Tuesday Revised third-quarter productivity report Consumer credit report for October Earnings reports: Kroger, AutoZone, Hovnanian Enterprises, Net2Phone, UTI Worldwide Wednesday Earnings reports: Korn/Ferry, Movado Group, Toro, Dave & Buster's, Dreamworks Animation Thursday Wholesale inventories for October Import prices, excluding oil, for...
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BUSINESS
By Meredith Cohn and Tricia Bishop and Meredith Cohn and Tricia Bishop,SUN STAFF | October 2, 2004
Towson toolmaker Black & Decker provided one of the bright spots in an otherwise lackluster third quarter for the Standard & Poor's 500, turning in a double-digit gain to rack up the second-best performance of the stocks in the index. Also among Maryland companies in the S&P 500 was one of the quarter's worst performers. Shares of Ciena Corp., the Linthicum fiber-optics equipment maker, lost nearly half their value in the three-month period that ended Thursday, making it the index's third-worst performer.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | April 21, 2004
Ciena Corp., a locally based maker of telecommunications-networking gear, said yesterday that it will shut down its San Jose, Calif., engineering facility on Sept. 30, a move that will save millions while costing 425 workers their jobs. The company will shift the product-development work from San Jose to its other facilities. Some employees - fewer than 100 - might relocate to Ciena's facility in Linthicum, the company said. Chief Executive Officer Gary Smith said the decision to cut jobs was "difficult," but he added that the resultant cost savings "make it a necessary step in the process of restoring Ciena's profitability."
BUSINESS
By Dan Thanh Dang and Dan Thanh Dang,SUN STAFF | February 20, 2004
Ciena Corp., the fourth-biggest U.S. maker of fiber-optic networking systems, said yesterday that it will purchase two privately held equipment makers for $636.7 million in stock. The Linthicum-based company also reported a net loss of $76.7 million, or 16 cents per share, which matched analysts' forecasts for its first fiscal quarter, which ended Dec. 31. That compared with a loss of $107.1 million, or 25 cents per share, for the corresponding quarter in 2003. Ciena has agreed to acquire Catena Networks Inc., a broadband access company with offices in Canada and North Carolina, for 77.5 million shares of stock, worth $486.
BUSINESS
January 27, 2004
In The Region SEC's Allegheny probe reportedly targets finances An "informal" federal investigation of Allegheny Energy Inc. appears to involve the utility's acknowledged financial and accounting problems rather than any suspicion of fraud, Chief Executive Officer Paul J. Evanson said yesterday. The Hagerstown company disclosed the Securities and Exchange Commission inquiry Friday in an SEC filing on its third-quarter financial results. The filing showed that Allegheny lost $51 million in the third quarter of 2003, compared with $263 million a year earlier.
BUSINESS
By BLOOMBERG NEWS | December 12, 2003
Ciena Corp., the fourth-biggest U.S. maker of fiber-optic network equipment, said yesterday that its fiscal fourth-quarter net loss narrowed to $115 million as expenses declined. Ciena's shares fell 11 percent after the company said its loss this quarter will be wider than analysts expected. The fourth-quarter loss narrowed to 24 cents a share from $754.8 million, or $1.75 a share, in the year-earlier period that ended Oct. 31, Linthicum-based Ciena said. Sales rose 14 percent to $70.6 million.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,SUN STAFF | May 23, 2003
Shares of Ciena Corp. fell nearly 8 percent yesterday after the company reported that its revenue decreased in the second quarter from a year ago and said that it could drop further this quarter. The Linthicum-based fiber-optic equipment maker reported a net loss of $75.5 million, or 17 cents per share, for the fiscal quarter that ended April 30. That compares with a net loss of $612.2 million, or $1.86 a share, in the corresponding quarter of last year. During that quarter, however, Ciena took more than $381 million in one-time charges.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,SUN STAFF | April 29, 2003
The Columbia telecommunications company Corvis Corp. was found by a federal jury yesterday to have infringed on a patent of rival Ciena Corp. of Linthicum. The decision in U.S. District Court in Wilmington, Del., comes after a ruling in the same court last month that Corvis infringed on one of Ciena's patents but did not infringe on two others. Yesterday's ruling, which was announced by Ciena, came from the retrial of a fourth patent case that the jury could not reach a decision on last month.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,SUN STAFF | April 10, 2003
Ciena Corp., the Linthicum maker of fiber-optic equipment, said yesterday that it agreed to buy a Massachusetts telecommunications company in a stock deal valued at $158 million. Ciena will buy all of privately held WaveSmith Networks stock for 36 million shares of Ciena common stock. The $158 million value of those shares does not include the return of money Ciena invested in WaveSmith as part of a third round of financing of $30 million in October. With the telecommunications sector in turmoil, Ciena is looking to regain profitability through investments in new products.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,SUN STAFF | March 16, 2003
A picture on the wall in Gary B. Smith's office shows the Nasdaq building in Times Square draped with Ciena Corp.'s banners. The picture wasn't taken during the high-flying days of the technology boom, when stock options flowed like champagne. It was snapped Jan. 11, 2002, long after Ciena and so many others had suffered huge layoffs and losses. "It's been a tumultuous ride," said Smith, Ciena's president and chief executive officer. The facade of telecommunications took hundreds of companies on the ride of a lifetime, bringing many of them to an abrupt end when the bottom fell out in 2001.
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