Ciena bought back $41.2 million 3.75% convertibles due 2008 in third quarter

By Jennifer Chiou

New York, Sept. 1 - Ciena Corp. announced it repurchased $41.2 million of its $690 million outstanding 3.75% convertible notes due 2008 for $36.9 million during the fiscal third quarter.

In result, the company recorded a $3.9 million net gain and saved $4.3 million in future principal payments.

The Linthicum, Md., network equipment company also reported a $51 million net loss for the quarter.

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