Ciena Reports Wider Third Quarter Loss

Telecommunications equipment provider Ciena Corp. reported a net loss of $141.5 million for its fiscal third quarter. The firm lost $294 million in the third quarter last year, the Maryland-based company said Thursday. Revenue for the 2004 third quarter totaled $75.6 million representing a 10.4 percent increase over the like period in the previous year.

"We have taken a number of important steps toward restoring health and profitability to our business, and over the next several quarters, our focus and execution will be crucial for success," Ciena CEO Gary Smith said in a statement. The firm said "ongoing customer uncertainty" was the chief cause for slow near future customer orders.

Ciena is targeting DSL, storage extension and voice-video-data products for future growth, Smith said. Those products and services accounted for more than 35 percent of the firm's sales in the third quarter ending July 31, he said.