Profitability is in sight for this market leader of optical communication equipment.
Ciena posted top-line results in line with our expectations, but margins slipped sequentially. The company reported its highest backlog ever ($1.15 billion), while BluePlanet-driven sequential software revenue growth reached 70% and 18 total customers (five new) in the quarter. Management is forecasting another strong year in 2017 and sticking to its target of reaching 15% adjusted operating margin sometime between 2018 and 2019. We are also encouraged by strong top-line performance in EMEA and ...Ciena is a networking systems, services and software company, providing solutions that enable a range of network operators to deploy and manage networks that deliver services to businesses and consumers. The company provides hardware, software and services that support the transport, switching, aggregation, service delivery and management of video, data and voice traffic on communications networks. The company's solutions are used by communications service providers, cable and multiservice operators, Web-scale providers, submarine network operators, governments, enterprises, research and education institutions and other network operators.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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