Como se combate o populismo? "Com eleições", responde Fukuyama

[AC]

ver o fecho de hoje. Abaixo dos 2.21 é MAU !!!

[AC]

Second Quarter 2005 Highlights

-- Delivered sequential revenue growth of 9.6% and year-over-year revenue growth of 39.0%.

-- Improved overall gross margin from 25.6% in the fiscal first quarter to 26.2% in the fiscal second quarter.

-- Announced that BT had selected Ciena as a preferred supplier to support its 21st Century Network (21CN), including Ciena's optical switching, optical transport and Ethernet transport platforms.

-- For the second consecutive year, Ciena was honored by SBC Communications as an "Outstanding Supplier."

-- Ciena expanded its strategic relationship with TELMEX and announced that its CoreDirector(R) multiservice switching system had been selected for Telefonos de Mexico's nationwide long-distance network and that new Ethernet modules will be added to existing CoreDirectors in TELMEX's Mexico City metro area network.

-- Reduced cash burn from operations by 15.5% sequentially, from $43.3 million in the fiscal first quarter of 2005 to $36.6 million in the fiscal second quarter 2005.

-- Ended the fiscal second quarter 2005 with cash and short- and long-term investments valued at $1.19 billion.

Non-GAAP Presentation of Quarterly Results

In evaluating the operating performance of its business, Ciena's management excludes certain charges or credits that are required by GAAP. These items, which are identified in the tables that follow, share one or more of the following characteristics: they are unusual, and Ciena does not expect them to recur in the ordinary course of its business; they do not involve the expenditure of cash; they are unrelated to the ongoing operation of the business in the ordinary course; or their magnitude and timing is largely outside of the Company's control.

[AC]

Alguns estão convictos que se vai repetir a cotação dos últimos resultados, mas hoje ela não fechou abaixo da MM200, o que por sinal é muito bom, apesar de fazer uma vela muito preta com grande volume. A CIEN está agora no seu preço justo por acção, mas com uma tendência clara de subida no longo prazo.