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Short Take: Ciena warns of lower-than-expected profits

Fiber optic bandwidth management company Ciena has issued a warning that its third-quarter results could be impacted by price concessions to one of its largest customers in exchange for volume commitments. The company said that, until it diversifies its customer base, it will continue to face fluctuating revenues. In June, Tellabs agreed to buy Ciena for $7.1 billion in stock. The merger is expected to be approved August 21.

Fiber optic bandwidth management company Ciena has issued a warning that its third-quarter results could be impacted by price concessions to one of its largest customers in exchange for volume commitments. The company said that, until it diversifies its customer base, it will continue to face fluctuating revenues. In June, Tellabs agreed to buy Ciena for $7.1 billion in stock. The merger is expected to be approved August 21.