CIENA CEO Statement On Today's Events.LINTHICUM, Md.--(BUSINESS WIRE)--Sept. 14, 1998--The following can be attributed to 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. , president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , 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 : "Today, CIENA is taking a series of steps geared to demonstrate our commitment to the company's original mission established four and a half years ago: simplifying the network and lowering the cost of bandwidth for our customers." "Four months ago, we announced our intent to merge with Tellabs as a means to expand the scope of that mission. While the strategic basis for this transaction still remains compelling, our short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. financial performance and the effect of recent events to our near-term outlook, has made it highly improbable that we can get shareholder approval without substantially undervaluing CIENA." "Demonstrating our commitment to move forward, CIENA also announced today an organizational restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). that will strengthen our sales and marketing so we can focus on our customers, take advantage of new business opportunities and increase shareholder value." "In addition, we unveiled a new product capability today that illustrates CIENA's ability to deliver new capabilities to the market that further define us as the world's leader in 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. ." "After all is said and done, CIENA remains a young, vibrant and high growth potential company with a strong balance sheet, a strong workforce that is charged up and a strong growing base of satisfied customers." To receive copies of today's announcements and view comments by Patrick Nettles, visit our website at www.ciena.com or refer to Business Wire. CONTACT: Investor Contact: Suzanne DuLong (888) 243-6223 email: ir@CIENA.com or Press Contact: Denny Bilter (410) 865-8677 email: dbilter@ciena.com |
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