Ciena (CIEN) Has $8.5 Billion in Backlog, but Can It Justify Its Premium?

Ciena (NYSE:CIEN) took in $1.67 billion in its latest fiscal quarter, 37% more than a year earlier. Over the past five years, though, its sales grew only about 6.2% a year, and its earnings per share shrank about 18% a year. That gap is the question hanging over the stock. Network equipment makers have ridden […]