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CIENA CORP 8-K Report (Sep 5, 2000)

Reports
Other Events
Filing Date
Filed September 5, 2000
Period End
September 5, 2000
Security
CIEN
In the record · 2016–202610-K1010-Q338-K105

CIEN filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 105 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Apr ’16Apr ’16
  2. FY2018 annual report10-K · Dec ’18Dec ’18
  3. Leadership change8-K · Apr ’21Apr ’21
  4. Leadership change8-K · Jun ’25Jun ’25

01—Abstract

Summary

Summary of the 8-K filed September 5, 2000. Cited figures are marked; the original filing is the authoritative source.

CIENA Corporation (CIEN) filed an 8-K on September 5, 2000, to report a significant event impacting its financial results.

The company announced that a London court issued an administration order against iaxis Limited, a European customer. This development directly affects CIENA's accounts receivable, as up to $28.2 milliona owed by iaxis Limited may now be uncollectible. Consequently, CIENA expects to record a one-time charge for doubtful accounts in its fourth fiscal quarter, which was set to end on October 31, 2000.

This filing serves to inform investors of this material event and its potential negative impact on earnings for the period. Investors should pay close attention to the fourth-quarter financial statements to understand the full extent of this provision.

02—Key points

Key Highlights

  1. CIENA Corporation announced a significant customer issue on September 5, 2000.
  2. A London court issued an administration order against European customer iaxis Limited.
  3. Up to $28.2 million in net accounts receivable from iaxis Limited may be uncollectible.
  4. The company expects to record a one-time charge for doubtful accounts in Q4 FY2000.
  5. The provision for doubtful accounts relates to the potential uncollectibility of the iaxis Limited receivable.
  6. The report includes a press release detailing the impact of the administration order.
  7. The expected charge will affect the financial results for the fiscal quarter ending October 31, 2000.

03—Questions

Frequently Asked Questions

  1. What is the main reason for this 8-K filing?

    This 8-K filing is to inform investors that CIENA Corporation is facing potential uncollectibility of up to $28.2 million in accounts receivable from a European customer, iaxis Limited, due to an administration order issued by a London court.

  2. What is the financial impact on CIENA?

    CIENA expects to record a one-time charge in its fourth fiscal quarter (ending October 31, 2000) for a provision for doubtful accounts to account for the potential loss from iaxis Limited.

  3. Who is iaxis Limited?

    iaxis Limited is identified as a European customer of CIENA Corporation.

  4. When will the financial impact be recognized?

    The financial impact, in the form of a one-time charge for doubtful accounts, is expected to be recorded in CIENA's fourth fiscal quarter ending October 31, 2000.

04—Continue

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