Financial Data and Key Metrics Changes - Comtech reported net sales of $111 million for Q1 2026, a decrease from $130.4 million in the previous quarter but exceeding the midpoint of revenue guidance [13] - Gross profit for Q1 2026 was $36.8 million, representing a 153.3% increase from $14.5 million in Q1 2025, with a gross profit margin of 33.1% [14] - The company reported an operating loss of $2.8 million in Q1 2026, significantly improved from an operating loss of $129.2 million in Q1 2025 [15] - Adjusted EBITDA for Q1 2026 was $9.6 million, compared to an adjusted EBITDA loss of $30.8 million in Q1 2025 [16] - Operating cash flows were $8.1 million for Q1 2026, a substantial improvement from negative $21.8 million in Q1 2025 [17] Business Line Data and Key Metrics Changes - The Satellite and Space Communications segment reported a GAAP operating profit of over $3 million in Q1 2026, compared to a GAAP operating loss of approximately $119 million in the same period last year [8] - The Illyrium segment achieved adjusted EBITDA of $11.3 million, a slight increase from $11.0 million in the prior year [10] Market Data and Key Metrics Changes - The company secured approximately $27 million in initial funding toward a multi-year contract extension valued at over $130 million, which will contribute to future backlog [16] - Illyrium was awarded over $15 million in incremental multi-year funding for next-generation solutions development [12] Company Strategy and Development Direction - Comtech is focused on optimizing cash flow and has strategically phased out low-margin products to transition to higher-margin opportunities [25] - The company aims to capitalize on attractive growth opportunities in its business segments, particularly in satellite and space communications [4] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's revitalized financial health, which is expected to enhance employee retention, customer trust, and vendor relationships [21] - The company is at an inflection point, with improved margins and strategic growth opportunities ahead [25] Other Important Information - Mary Jane Raymond has joined the board of directors, bringing governance and operational expertise [22] Q&A Session Summary Question: Will the $130 million of new bookings flow to backlog in the current quarter? - A portion will be booked in the first quarter, but the majority will be booked in the second quarter [24] Question: What are the expectations for top-line growth given the transition to higher volume production? - The focus is on optimizing cash flow, with a belief that the company is at an inflection point for regrowth after phasing out low-margin business [25] Question: Any updates on the PIK preferred stock obligation? - No specific comments were made, but the company is exploring various options to improve its capital structure [27]

Core Insights - Ciena Corporation's stock increased by 7.88% to $239.34 after reporting fourth-quarter results that indicated a decline in profit but a significant rise in revenue [1] Financial Performance - Ciena reported earnings of $19.48 million, or $0.13 per share, down from $37.02 million, or $0.25 per share, a year earlier [1] - Revenue increased by 20.5% to $1.35 billion, compared to $1.12 billion in the previous year [1] Stock Trading Activity - The stock opened at $236.35 and has fluctuated between $222.45 and $248.00 during the trading day [2] - Current bid and ask prices are $232.68 and $233.38, respectively [2] - Trading volume reached 5,278,851, significantly higher than the average of 2,903,439 [2] - Ciena's 52-week trading range is between $49.21 and $248.00, with today's price near the upper limit of this range [2]

Financial Data and Key Metrics Changes - The company reported record fiscal fourth quarter revenue of $1.35 billion, up 20% year-over-year, and full year revenue of $4.77 billion, a 19% increase from the previous year [9][35] - Earnings per share (EPS) for Q4 was $0.91, reflecting a 69% increase year-over-year, while full year EPS was $2.64, up 45% from fiscal 2024 [10][41] - Record orders for the year reached $7.8 billion, contributing to a backlog of approximately $5 billion entering fiscal 2026 [10][37] Business Line Data and Key Metrics Changes - The optical business grew 19% year-over-year, driven by a 72% increase in RLS [35] - Routing and switching business saw a 49% year-over-year growth, with significant contributions from the 3000 and 5000 series products [35] - Global services revenue increased by 25% year-over-year, with advisory and enablement services growing 53% and installation implementation services growing 45% [36] Market Data and Key Metrics Changes - Demand from cloud customers, particularly hyperscalers, is accelerating, with service provider orders up nearly 70% for the year [15][16] - The company’s optical market share has increased by two points year-to-date, with expectations for further gains in 2026 [16] - The in and around data center opportunities grew threefold from 2024 to 2025, indicating a significant market expansion [22] Company Strategy and Development Direction - The company is focused on high-speed connectivity technologies, particularly in the AI ecosystem, to serve cloud and service provider customers [10][11] - Investments are being made to expand capacity and meet increasing demand, with a commitment to flat operating expenses in 2026 while investing in new opportunities [34][44] - The company anticipates a robust growth trajectory driven by AI-related infrastructure investments, with expected revenue for fiscal 2026 between $5.7 billion and $6.1 billion [42][44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the durability of demand and the financial trajectory, citing strong market dynamics and technology leadership [29][47] - The company is navigating supply chain challenges and is proactively expanding capacity to meet unprecedented demand [17][76] - Management highlighted the importance of network scaling for cloud providers, emphasizing that the network is becoming a critical factor for operationalizing AI [91] Other Important Information - The company completed a cash purchase of Nubis Communications to enhance its interconnects portfolio [34] - Adjusted gross margin for Q4 was 43.4%, with expectations for year-over-year improvements [38] - The company plans to repurchase approximately $330 million in shares under its stock repurchase authorization plan [44] Q&A Session Summary Question: Guidance and New Use Cases - The new opportunities discussed are included in the guidance, with a significant increase in revenue from in and around data center projects [50] Question: Scale-across Opportunities - Discussions with hyperscalers are ongoing, with initial wins expanding to multiple sites, indicating substantial revenue potential [51][52] Question: Timeline for New Hyperscaler Engagements - Revenue from new hyperscalers is expected to begin in 2026, with significant scaling anticipated in 2027 and 2028 [61] Question: Supply Constraints - The company is facing constraints primarily in photonics parts and is working closely with suppliers to secure supply [76][78] Question: Margin Sustainability - The company expects ongoing multi-year gross margin expansion, driven by improved operational efficiencies and customer value realization [96][97]

Financial Data and Key Metrics Changes - The company reported record fiscal fourth quarter revenue of $1.35 billion, up 20% year-over-year, and full year revenue of $4.77 billion, up 19% from the previous year [9][35] - Earnings per share (EPS) for Q4 was $0.91, a 69% increase year-over-year, while full year EPS was $2.64, up 45% from fiscal 2024 [10][41] - Record orders for the year reached $7.8 billion, resulting in a backlog of approximately $5 billion [10][37] Business Line Data and Key Metrics Changes - The optical business grew 19% year-over-year, driven by a 72% increase in RLS [35] - Routing and switching business saw a 49% year-over-year growth, with significant contributions from the 3000 and 5000 series products [35] - Global services revenue increased by 25% year-over-year, with advisory and enablement services growing 53% and installation implementation services growing 45% [36] Market Data and Key Metrics Changes - Demand from cloud customers, including hyperscalers, is accelerating, with service provider orders up nearly 70% for the year [15][16] - The company’s optical market share has increased by two points year-to-date, with expectations for further gains in 2026 [16] - The in and around data center opportunities grew threefold from 2024 to 2025, contributing significantly to expected growth in 2026 [22] Company Strategy and Development Direction - The company is focused on high-speed connectivity technologies, particularly in the AI ecosystem, serving both cloud and service provider customers [10][11] - Investments are being made to expand capacity and meet increasing demand, with a commitment to flat operating expenses in 2026 while investing in new opportunities [34][44] - The company anticipates a significant increase in capital expenditures for fiscal 2026 to support robust demand [44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the durability of demand and the financial trajectory, citing strong market dynamics and technology leadership [29][47] - The company expects revenue for fiscal 2026 to be approximately $5.7-$6.1 billion, representing nearly 24% annual growth at the midpoint [42] - Management noted that the demand for network expansion driven by AI is unprecedented and is expected to continue [18][19] Other Important Information - The company has improved its cash conversion cycle by 34 days, resulting in $1.4 billion in cash at year-end [32] - Adjusted gross margin for Q4 was 43.4%, with expectations for year-over-year improvements [38] - The company completed a cash purchase of Nubis Communications to enhance its interconnects portfolio [34] Q&A Session Questions and Answers Question: How much of the new opportunities are included in the guidance? - All new opportunities discussed are included in the guidance, with a significant increase in revenue from in and around data center projects [50] Question: Can you provide a timeline for when additional hyperscalers will contribute to revenue? - Revenue from all three hyperscalers is expected to begin in 2026, with significant scaling anticipated in 2027 and 2028 [61] Question: What are the supply constraints currently faced by the company? - The main constraints are on photonics and optical parts, with efforts being made to secure supply through investments and strong relationships with suppliers [76][78] Question: What is the outlook for margins given the current product mix? - Margins are expected to improve as new products ramp up and pricing discussions yield benefits, with a target of reaching mid-40s gross margins in the future [96] Question: How does the company view the sustainability of its telco business? - The telco business is expected to remain sustainable, with ongoing investments in 5G and MOFEN projects [114]

Financial Data and Key Metrics Changes - Ciena reported record fiscal fourth quarter revenue of $1.35 billion, up 20% year-over-year, and full year revenue of $4.77 billion, up 19% from fiscal 2024 [5][19] - Earnings per share (EPS) for Q4 was $0.91, a 69% increase year-over-year, and full year EPS was $2.64, up 45% from fiscal 2024 [5][25] - Record orders for the year reached $7.8 billion, resulting in a backlog of approximately $5 billion [5][23] Business Line Data and Key Metrics Changes - Optical business revenue increased by 19% year-over-year, driven by RLS growth of 72% [19][23] - Routing and switching business grew 49% year-over-year, with significant contributions from the 3000 and 5000 series products [19][23] - Global services revenue grew 25% year-over-year, with advisory and enablement services increasing by 53% and installation implementation services by 45% [19][23] Market Data and Key Metrics Changes - Demand from cloud customers, particularly hyperscalers, is accelerating, with service provider orders up nearly 70% for the year [6][8] - Ciena's optical market share has grown by two points year-to-date, with expectations for further gains in 2026 [9] - The company is experiencing strong demand for managed optical fiber networks (MOFEN) projects, with significant wins in India and other regions [8][9] Company Strategy and Development Direction - Ciena is focused on high-speed connectivity technologies, particularly in the AI ecosystem, serving both cloud and service provider customers [5][6] - The company plans to increase investments to scale its business in response to growing demand, with a commitment to flat operating expenses in 2026 while investing in new opportunities [9][27] - Ciena anticipates a significant addressable market opportunity in and around data centers, with expectations of capital spending exceeding $7 trillion in AI-related infrastructure through the end of the decade [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the durability of demand and the company's financial trajectory, citing strong market dynamics and technology leadership [18][29] - The company expects revenue for fiscal 2026 to be approximately $5.7-$6.1 billion, representing nearly 24% annual growth at the midpoint [26] - Management highlighted the importance of addressing supply chain constraints and increasing capacity to meet unprecedented demand [54][56] Other Important Information - Ciena's adjusted gross margin for Q4 was 43.4%, with expectations for year-over-year improvements [24] - The company completed a cash purchase of Nubis Communications to enhance its interconnects portfolio [22] - Ciena's capital expenditures for fiscal 2026 are expected to be between $250 and $275 million to support robust demand [27] Q&A Session Summary Question: Guidance and New Use Cases - Management confirmed that new opportunities discussed are included in the guidance, with a significant increase in revenue from in and around data center projects [32] Question: Scale-across Opportunities - Management indicated that discussions with hyperscalers are ongoing, with initial wins expected to generate hundreds of millions in revenue [33] Question: Timeline for New Hyperscalers - Revenue from all three hyperscalers is expected to begin in 2026, with significant scaling anticipated in 2027 and 2028 [40] Question: Customer Concentration - Three customers accounted for just under 44% of Q4 revenue, with one being AT&T [41] Question: Supply Constraints - Management identified constraints primarily in photonics parts and optical components, with efforts underway to secure supply [54][56]

Nokia CorporationStock Exchange Release11 December 2025 at 16:30 EETCorrection: Changes in Nokia Corporation's own shares Espoo, Finland – the stock exchange release of Nokia Corporation titled “Changes in Nokia Corporation’s Own Shares” published on 9 December 2025 incorrectly stated that the number of own shares held by Nokia Corporation following the transfer was 149 246 864. The correct number is 148 246 864. The corrected stock exchange release in its entirety can be found below. Espoo, Finland – A to ...

MELBOURNE, Fla.--(BUSINESS WIRE)--SkyMirr, today announced that its advanced 5G wireless router, Sky5Gâ"¢, has officially achieved certification for use on T-Mobile's network. ...

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12月11日，受市场传闻影响，中兴通讯午后股价出现剧烈波动，截至午后收盘，A股跌停，港股也跌超 12%。针对市场流传的关于"公司涉及美国《反海外腐败法》合规性调查"的报道，中兴通讯于当日午间 发布重大事项公告进行回应。 中兴通讯公告称，公司董事会已知悉近期新闻媒体针对公司涉及美国《反海外腐败法》合规性调查的报 道。对此，中兴通讯声明，公司正与美国司法部就有关事项进行沟通，并将通过法律等手段坚决维护自 身权益。 关于目前的经营状况，中兴通讯在公告中表示，公司目前生产经营一切正常。针对合规问题，中兴通讯 称始终坚持全面强化合规体系建设，致力于建设行业领先的合规体系；公司反对一切形式的腐败行为， 对任何可能相关的个人持零容忍态度。 采写：南都·湾财社记者 严兆鑫 据市场消息，12月11日早间，一则有关"中兴通讯可能因涉嫌海外行贿向美国支付超过10亿美元和解 金"的消息在市场发酵。随后，中兴通讯A、H股双双大跌，其在港上市的认购证一度暴跌超25%。 值得注意的是，在本次暴跌前，已有部分外资机构减持中兴通讯。港交所数据显示，贝莱德 （BlackRock）及摩根大通（JPMorgan）近期均对中兴通讯H股进行了减持操作。 ...

中兴通讯今日跌停，龙虎榜数据显示，上榜营业部席位全天成交34.97亿元，占当日总成交金额比例为 20.67%。其中，买入金额为16.16亿元，卖出金额为18.81亿元，合计净卖出2.64亿元。具体来看，机构 买入10.34亿元，卖出4.02亿元，合计净买入6.32亿元。此外，国泰海通证券上海松江区中山东路证券营 业部、深股通专用分别卖出5.22亿元、4.77亿元；深股通专用、长城证券杭州民心路证券营业部分别买 入3.71亿元、1.02亿元。 ...