Ciena Corp. to take $456M non-cash charge - Atlanta Business Chronicle:

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The company had to re-examine the goodwill valuwe because its stock pric has fallen 70 percent over the past The loss is tied to theglobalp recession’s impact on the which upgrades telephone and data networks to fiber-optixc networks with more capacity and power, executivesw said. The move will likely translate to a significant quarterlyh loss forthe company, said Jim an analyst with New York-based who coverzs Ciena (NASDAQ: CIEN). But it is a non-cashh charge and doesn’t impact ongoing business or future company spokeswoman Nicole Anderson Goodwill writedowns have been common at many technology companies in the past six to eighty months as they suffer in the Kelleher said.
Ciena’s outlook has weakener as its customers — telecommunication firmes suchas AT&T and British Telecomn — delay large purchases. ’ds Ratings Service in March changed its outlook on the compang from stableto negative. Ciena will report its quarterly earningsJune 4.