HANOVER, Md.--(BUSINESS WIRE)-- Ciena^® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal first quarter ended January 29, 2022.

• Q1 Revenue: $844.4 million
• Q1 Net Income per Share: $0.29 GAAP; $0.47 adjusted (non-GAAP)
• Share Repurchases: Ciena entered into a $250 million accelerated share repurchase ("ASR") arrangement during the first quarter of fiscal 2022 under its new share repurchase program. The final settlement of the ASR was completed in the second quarter of fiscal 2022 with approximately 3.6 million shares repurchased.

“First quarter revenue grew more than 10% year-over-year and continued broad-based demand drove very strong orders growth in the quarter, providing us additional visibility for the fiscal year," said Gary Smith, president and CEO of Ciena. "We expect our strategic investments to drive a significant increase in supply chain capacity in the second half, and therefore remain confident in our ability to address demand and achieve the strong revenue growth we expect for the fiscal year.”

For the fiscal first quarter 2022, Ciena reported revenue of $844.4 million as compared to $757.1 million for the fiscal first quarter 2021.

Ciena's GAAP net income for the fiscal first quarter 2022 was $45.8 million, or $0.29 per diluted common share, which compares to a GAAP net income of $55.3 million, or $0.35 per diluted common share, for the fiscal first quarter 2021.

Ciena's adjusted (non-GAAP) net income for the fiscal first quarter 2022 was $72.6 million, or $0.47 per diluted common share, which compares to an adjusted (non-GAAP) net income of $81.3 million, or $0.52 per diluted common share, for the fiscal first quarter 2021.