Ciena Corporation (NYSE:CIEN) Q2 2019 Earnings Conference Call Transcript

Jun 06, 2019 • 08:30 am ET

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Ciena Corporation (NYSE:CIEN) Q2 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good morning. My name is Lisa, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Ciena Fiscal Second Quarter 2019 Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. (Operator Instructions) Thank you.

Gregg Lampf, Vice President of Investor Relations, you may begin your conference.

Executive
Gregg Lampf

Thank you, Lisa. Good morning and welcome to Ciena's 2019 fiscal second quarter review. With me today is Gary Smith, President and CEO; and Jim Moylan, CFO. Scott McFeely, our Senior Vice President of Global Products and Services will join us for the Q&A portion of today's call. In addition to this call in the press release, we have posted to the Investor section of our website and accompanying investor presentation that reflects this discussion as well as certain highlighted items from the quarter.

Our comments today speak to our current view of the market environment and our industry position, our fiscal second quarter financial performance, as well as our guidance for the fiscal third quarter, and an update to our revenue outlook for fiscal '19. Before turning the call over to Gary, I'll remind you that during this call, we'll be making certain forward-looking statements. Such statements, including our guidance and any commentary about our long-term financial targets are based on current expectations, forecasts and assumptions regarding the Company and its markets, that include risks and uncertainties that could cause actual results to differ materially from the statements discussed today.

These statements should be viewed in the context of the risk factors detailed in our most recent 10-Q filing and in our upcoming 10-Q filing, which is required to be filed with the SEC by June 13, and we expect to file it by that date. Today's discussion also includes certain adjusted or non-GAAP measures of Ciena's results of operations. A detailed reconciliation of these non-GAAP measures to our GAAP results is included in today's press release. Ciena's assumes no obligation to update the information discussed in this conference call, whether as a result of new information, future events or otherwise.

With that, I'll turn the call over to Gary.

Executive
Gary B. Smith

Thanks, Gregg, and good morning, everyone. Today, we reported a very strong quarter across all of our financial and performance metrics. This included revenue growth in all major product segments and customer verticals. This reflects our balanced growth and continued market share gains. Order flow significantly exceeded revenue in the quarter, giving a strong visibility and increased confidence across our business. This performance is driven by the combination of our outstanding execution of a very deliberate and long-term strategy, as well as favorable competitive dynamics. Specifically, we consistently achieve technology leadership across our portfolio and continue to build a diversified customer base in high growth markets, all at global scale and with deep customer relationships.

As a result, we continue to outpace the competition across multiple dimensions. And we