01—Abstract
Summary
Summary of the 10-K filed December 22, 2010. Cited figures are marked; the original filing is the authoritative source.
Ciena Corporation's (CIEN) 2010 Form 10-K report, filed on December 22, 2010, covers the fiscal year ended October 31, 2010.
This filing provides a comprehensive overview of the company's business, financial condition, results of operations, and risk factors, crucial for investors assessing the company's performance and outlook. The report details Ciena's position in the telecommunications networking equipment market and outlines the strategic and operational factors influencing its business.
Investors should pay close attention to the 'Business' and 'Risk Factors' sections for an understanding of Ciena's competitive landscape, market trends, and potential challenges. The 'Management's Discussion and Analysis of Financial Condition and Results of Operations' will offer insights into the company's financial performance, liquidity, and capital resources, providing a basis for evaluating its financial health and future prospects.
02—Key points
Key Highlights
- The filing covers Ciena Corporation's fiscal year ended October 31, 2010, providing a look back at the company's performance during that period.
- Key sections for investors include Item 1 (Business), Item 1A (Risk Factors), and Item 7 (Management's Discussion and Analysis).
- Part III of the report incorporates information from the company's definitive proxy statement for its 2011 Annual Meeting, which will be filed separately.
- The report structure adheres to standard SEC Form 10-K requirements, covering financial statements, legal proceedings, market information, and executive compensation.
- Item 5 details the market for Ciena's common stock and related stockholder matters, including any issuer purchases of equity securities.
- Item 6 presents Selected Consolidated Financial Data, offering a snapshot of key financial metrics over several periods.
03—One dollar
Follow one dollar
For each $1.00 of revenue in FY2010, Ciena Corp lost $0.27.
- Revenue$1.24B100.0%
- Cost of revenue−$739.1M59.8%
- Gross profit$497.5M40.2%
- Operating costs−$819.3M66.3%
- Operating income−$321.8M26.0%
- Interest, other & tax−$11.7M0.9%
- Net income−$333.5M27.0%
04—Financials
Financial Highlights
Figures from 10-KFY2010filed December 22, 2010Financial Statements
FY2010 against FY2009
| Line item | FY2010FY2009 | Change |
|---|---|---|
| Revenue | $1.24B$652.63M | +89.5% |
| Cost of Revenue | $739.13M$367.80M | +101.0% |
| Gross Profit | $497.50M$284.83M | +74.7% |
| R&D Expenses | $327.63M$190.32M | +72.1% |
| Operating Expenses | $819.32M$864.06M | −5.2% |
| Operating Income | -$321.82M-$579.23M | +44.4% |
| Interest Expense | $18.62M$7.41M | +151.4% |
| Net Income | -$333.51M-$581.15M | +42.6% |
| EPS (Basic) | $-3.58$-6.37 | +43.8% |
| EPS (Diluted) | $-3.58$-6.37 | +43.8% |
| Shares Outstanding (Basic) | 93.10M91.17M | +2.1% |
| Shares Outstanding (Diluted) | 93.10M91.17M | +2.1% |
05—Questions
Frequently Asked Questions
What is the primary business of Ciena Corporation as described in this filing?
Ciena Corporation is engaged in the telecommunications networking equipment industry, providing hardware, software, and services for network infrastructure.
Where can I find detailed financial performance information for the fiscal year ended October 31, 2010?
Detailed financial performance information can be found in Item 7 (Management's Discussion and Analysis of Financial Condition and Results of Operations) and Item 8 (Financial Statements and Supplementary Data).
What are the key risks facing Ciena Corporation according to this report?
The key risks facing Ciena Corporation are detailed in Item 1A (Risk Factors) and would likely include market competition, technological changes, customer demand fluctuations, and macroeconomic conditions impacting the telecommunications industry.
When will information regarding executive compensation and corporate governance be available?
Information regarding Directors, Executive Officers, Corporate Governance, and Executive Compensation (Items 10 and 11) is incorporated by reference from Ciena's definitive proxy statement for its 2011 Annual Meeting of Stockholders, which was to be filed with the SEC no later than 120 days after the fiscal year-end.
06—Continue