|
|
Article: Md. Fiber-Optics Firm Ciena Narrows Loss Despite Revenue Drop
- Article from:
- The Washington Post
- Article date:
- May 23, 2003
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
|
Ciena Corp. announced yesterday that it trimmed its losses but
that its sales decreased in its most recent fiscal quarter.
The maker of fiber-optics equipment is trying to muscle its way to
profitability by developing new products and targeting bigger
customers.
The Linthicum, Md., company said it lost $75.5 million (17 cents
per share) in its fiscal second quarter ended April 30, compared with
a loss of $612.2 million ($1.86) a year earlier. Revenue fell to
$73.5 million from $87.1 million.
Economic recovery won't be immediate, but Ciena is starting to
meet some milestones by winning new customers and adding new
technologies, Gary B. Smith, president and chief executive, told
analysts in a ...