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Ciena Corporation (CIEN+0.24%) has submitted its 10-Q filing for the quarterly period ended February 1, 2025.
The filing includes financial statements for the quarter, showing an increase in total revenue to $1,072,260,000 from $1,037,709,000 in the same quarter the previous year. This increase is attributed to higher sales in the Americas region.
Cost of goods sold for the quarter was $600,439,000, representing 56% of sales, compared to 55% in the same quarter of the previous year. This increase in cost ratio is due to product mix changes.
The company reported a gross profit of $471,821,000 for the quarter, compared to $466,962,000 in the previous year, with the increase attributed to higher service margins.
Research and development expenses rose to $192,663,000 from $187,269,000, reflecting increased employee-related compensation costs.
Net income for the quarter was $44,572,000, down from $49,547,000 in the previous year. This decline is due to increased operating expenses.
Cash provided by operating activities was $103,723,000, while cash used in investing and financing activities was $67,090,000 and $93,457,000, respectively.
Ciena had a working capital of $3,491,711,000 as of February 1, 2025, highlighting its strong liquidity position.
The filing also details a refinancing of the company's 2030 Term Loan, which now bears interest at a rate of SOFR plus 1.75%, maturing on October 24, 2030.
Ciena does not anticipate any significant changes to its capital structure in the near future.
The company continues to focus on its core business and expanding market opportunities, particularly in the Americas region.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Ciena Corporation quarterly 10-Q report dated March 12, 2025. To report an error, please email earnings@qz.com.