Ciena Preliminary Q1 Revenue Below Prior Guidance; Affirms FY22 Revenue Guidance

(RTTNews) - Ciena Corp. (CIEN) said it experienced several specific disruptions in the supply chain late in the first quarter that exacerbated an already-challenging macro supply situation. For the first quarter, the company now expects revenue to be in the range of $840 to $850 million, compared to prior guidance range of $870 to $910 million. Adjusted gross margin is expected to be approximately 45% to 46%, at the high end of the previous guidance of 43% to 46%.

Ciena Corp. continues to expect to achieve its revenue guidance of 11% to 13% annual growth for fiscal 2022.

Shares of Ciena Corp. were down 1% in pre-market trade on Tuesday.