Ciena reports widening loss

21 Feb 2003

US-based Ciena Corp, which manufactures optical equipment for the telecoms industry, has reported a wider quarterly loss for the three months to 31 January 2003, but said that its results were nonetheless better than expected. The company posted a net loss of USD107.1 million, compared with a loss of USD70.6 million a year ago, but CEO Gary Smith said Ciena was hoping to break even on quarterly sales of USD175 million to USD220 million and expected operating expenses to continue to decline over the long term.