Ciena laid low by telecoms gloom

Telecoms spending "unsustainably low"...

Telecoms spending "unsustainably low"...

Ciena has added to the telecoms gloom by reporting an 80 per cent drop in second quarter sales. The optical networking company also warned that third quarter sales are likely to be flat or down from the same period last year as the telecom spending depression continues. Ciena CEO Gary Smith said spending by telecoms customers were "unsustainably low", reports the FT.