First Trade Date for CIENA Corp.
| Company Name | First Trade Date (yyyy-mm-dd) |
| CIENA Corp. | 1997-02-07 |
| Company Name | Symbol |
| CIENA Corp. | CIEN |
| History and Business of Company (this information may include date of incorporation) | |
|
CIENA Corp. (CIEN) offers optical transport and intelligent optical switching systems that enable service providers to provision, manage and deliver high-bandwidth services to their customers. The company's customers include long-distance carriers, competitive and incumbent local exchange carriers, Internet service providers, wireless and wholesale carriers. The company has pursued a strategy to develop and leverage the power of disruptive technologies to change the fundamental economics of building carrier-class tele- and data-communications networks, thereby providing its customers with a competitive advantage. CIEN's intelligent optical networking products are designed to enable carriers to deliver any time, any size, any priority bandwidth to their customers. CIEN had revenues of $858.8 million for its FY 00 (Oct.), an increase of approximately 78% when compared with FY 99 revenues of $482.1 million. Net income for FY 00 was $81.4 million. This compares with a net loss of $3.9 million forFY 99. For FY 00, CIEN recorded revenue from sales of intelligent optical networking equipment to a total of thirty-two service provider customers. This represents an increase of more than 18% over FY 99's customer base of twenty-seven. During FY 00, three customers each represented more than 10 percent of CIEN's total revenues. Historically, the significant majority of CIEN's revenues have come from the sale of products in a single product category: long- distance optical transport equipment. CIEN believes it is one of the worldwide market leaders in field deployment of open- architecture long-distance optical transport equipment utilizing dense wavelength division multiplexing, or DWDM, technology. The majority of CIEN's fiscal 2000 revenue was derived from sales of its long distance optical transport products, including MultiWave CoreStream and MultiWave Sentry 4000. During the fiscal year 2000, CIEN also recognized revenue from the sale of seven optical networking products including sales of its metropolitan optical transport product, MutliWave Metro and its intelligent optical core switch, MultiWave CoreDirector. On Dec. 19, 2000, CIENA agreed to acquire privately held Cyras Systems, Inc. for 27,000,000 Common shares. Cyras, based in Fremont, CA, is developing data-optimized optical switching systems for metropolitan area network applications. CIENA also will assume $150 million of Cyras' debt. The deal is valued at about $2.6 bilion. INCORPORATED in Delaware Nov. 2, 1992, as HydraLite Inc. Name changed to Cedrus Corp. June 29, 1994; and to present title July 21, 1994. OFFICE- 1201 Winterson Road, Linthicum, MD, USA 21090- 2205 (Tel.: 410-865-8500). WEBSITE-http://www.ciena.com. | |
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