Ciena® (NYSE:  CIEN), a network strategy and technology company, today announced that its  Board of Directors has authorized a program to repurchase up to $300 million of  the company’s common stock through the end of fiscal 2020.

“Our share repurchase program reflects  the strength of our balance sheet, the stability of our business today and the  confidence we have in our future. It also demonstrates our intent to  incorporate the return of capital to shareholders in our strategic and  operating plans as the business continues to grow and generate cash,” said  Ciena’s Chief Financial Officer James E. Moylan, Jr.

Ciena may purchase shares at  management’s discretion in the open market, in privately negotiated  transactions, in transactions structured through investment banking  institutions, or a combination of the foregoing. The Company may also, from  time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its  shares under this authorization. The amount and timing of repurchases are  subject to a variety of factors including liquidity, cash flow, stock price,  and general business and market conditions. The program may be modified,  suspended or discontinued at any time.

The share repurchase program will  be funded with cash on hand or cash generated from operations.

About Ciena
Ciena (NYSE: CIEN) is a network strategy and technology company. We translate best-in-class technology into value through a high-touch, consultative business model – with a relentless drive to create exceptional experiences measured by outcomes. For updates on Ciena, follow us on Twitter @Ciena, LinkedIn, the Ciena Insights blog, or visit

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