Ciena Corporation (NYSE: CIEN), a networking systems, services and software company reported year-end financial results. For the fourth quarter, the company reported revenue of USD 968 Million, an increase of 7.6% year over year. Ciena repurchased 1 million shares of common stock for a total of USD 38.2 Million.
“Our outstanding Q4 financial performance rounded out an extraordinary year of industry-leading growth and profitability,” said Gary Smith, President and CEO, Ciena. “Our innovation, diversification and scale uniquely position us to continue taking share while delivering improved operating margin and driving sustained EPS growth in 2020.”
For fiscal year 2019, Ciena reported a total revenue of USD 3.57 Billion, an increased compared to fiscal year 2018’s revenue of USD 3.09 Billion. For the fiscal year 2019, Ciene repurchased a total of 3.8 million shares of common stock at an average value of USD 39.10. The share repurchase program may be altered in anyway and anytime.
Share value of surged after the announcement, shares are currently trading at a high of day of USD 41.15 with over 12 million shares traded.