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CIENA CORP 8-K Report, Financial Results (Dec 13, 2018)

Reports
Earnings & Results·Other Events·Exhibits & Filings
Filing Date
Filed December 13, 2018
Period End
December 13, 2018
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. Leadership change8-K · Oct ’17Oct ’17
  2. Material agreement8-K · Jan ’22Jan ’22
  3. Material agreement8-K · Jun ’26Jun ’26

01—Abstract

Summary

Summary of the 8-K filed December 13, 2018. Cited figures are marked; the original filing is the authoritative source.

Ciena Corporation (CIEN) filed an 8-K on December 13, 2018, primarily to announce its fourth fiscal quarter and full fiscal year 2018 financial results.

The company also disclosed that its Board of Directors has authorized a new $500 milliona share repurchase program, replacing any prior authorizations. While the full financial details are expected to be in the furnished press release and accompanying investor materials, the key takeaway for investors is Ciena's continued commitment to returning capital to shareholders through significant stock buybacks. This indicates management's confidence in the company's financial health and future prospects, alongside the expected release of operational performance for the period.

02—Key points

Key Highlights

  1. Ciena announced its financial results for the fourth fiscal quarter and full fiscal year ended October 31, 2018.
  2. The company's Board of Directors authorized a new stock repurchase program with a value of up to $500 million.
  3. This new repurchase program replaces all previously authorized share repurchase programs.
  4. The press release, management's prepared remarks, and an investor presentation detailing the financial results are furnished as exhibits.
  5. Share repurchases may be executed through various methods including open market transactions and Rule 10b5-1 plans.
  6. The amount and timing of share repurchases are subject to market conditions, liquidity, and business performance.

03—Questions

Frequently Asked Questions

  1. What is the main purpose of this 8-K filing?

    The main purpose of this 8-K filing is to report Ciena Corporation's financial results for its fourth fiscal quarter and full fiscal year ended October 31, 2018, and to announce a new $500 million stock repurchase program authorized by its Board of Directors.

  2. What is the significance of the $500 million stock repurchase program?

    The $500 million stock repurchase program signifies management's confidence in Ciena's financial stability and future outlook. It indicates a commitment to returning capital to shareholders, which can potentially increase earnings per share and signal undervaluation of the company's stock.

  3. Where can I find the detailed financial results for Q4 2018?

    The detailed financial results are available in the press release (Exhibit 99.1), management's prepared remarks (Exhibit 99.2), and the investor presentation (Exhibit 99.3) that are furnished as part of this 8-K filing. These documents are typically found on Ciena's investor relations website.

  4. How will Ciena execute the stock repurchases?

    Ciena may repurchase shares at management's discretion through various methods, including open market transactions, privately negotiated transactions, or structured transactions with investment banks. They may also utilize Rule 10b5-1 plans to facilitate these repurchases.

04—Continue

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