CIENA Announces Two-for-One Stock Split.Business Editors LINTHICUM, Md.--(BUSINESS WIRE)--Aug. 15, 2000 CIENA Corporation Ciena Corporation NASDAQ: CIEN develops and markets communications network platforms and software, and offers professional services. The Company's broadband access, data and optical networking platforms, software tools, and global network services support worldwide telecom announced today that its Board of Directors has approved and declared a two-for-one stock split of the Company's common shares. Shareholders of record at the close of business on August 28, 2000 will receive a distribution of one new share for each share held. The distribution date for the split, being effected by way of a stock dividend, is September September: see month. 18, 2000. "CIENA continues to demonstrate its leadership in intelligent optical networking Communications between computers, telephones and other electronic devices using light. An optical network is far more reliable and has far greater potential transmission capacity than networking in the electrical domain. See optical fiber. ," said Patrick Nettles net·tle n. 1. Any of numerous plants of the genus Urtica, having toothed leaves, unisexual apetalous flowers, and stinging hairs that cause skin irritation on contact. 2. Any of various hairy, stinging, or prickly plants. , CIENA's president and chief executive officer. "With six consecutive quarters of revenue growth and a share price which has increased more than four-fold Adj. 1. four-fold - having four units or components; "quadruple rhythm has four beats per measure"; "quadruplex wire" quadruple, quadruplex, quadruplicate, fourfold in a year, a stock split will allow a broader base of investors to participate in this strong business momentum." As of July 31, 2000, CIENA had 141,907,933 common shares outstanding. Upon completion of the split, the number will increase to 283,815,866 common shares outstanding. ABOUT CIENA CIENA Corporation's market-leading intelligent optical networking systems form the core for the new era of networks and services worldwide. CIENA's LightWorks(TM) architecture enables next-generation optical services and changes the fundamental economics of service-provider networks by simplifying the network and reducing the cost to operate it. Additional information about CIENA can be found at http://www.ciena.com. |
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