Ciena Corp. to take $456M non-cash charge - Baltimore Business Journal:

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The company had to re-examinde the goodwill value because its stock price has falleb 70 percent over the past The loss is tied to theglobal recession’s impacft on the company, which upgradea telephone and data networks to fiber-opticf networks with more capacity and power, executives The move will likely translate to a significantg quarterly loss for the company, said Jim Kelleher, an analysf with New York-based who covers Cienaq (NASDAQ: CIEN). But it is a non-cashu charge and doesn’t impact ongoinvg business or future expenses, company spokeswoman Nicold Anderson said.
Goodwill writedownds have been common at many technology companies in the past six to eighf months as they suffer in the Kelleher said. Ciena’s outlook has weakened as its customerxs — telecommunication firms such as AT&rT and British Telecom — delay large purchases. ’ws Ratings Service in March changed its outloolk on the company from stableto negative. Ciena will report its quarterly earningasJune 4.