Earnings Per Share Calculation

6 Months Ended

May 01, 2021

EARNINGS PER SHARE CALCULATION

The following table presents the calculation of basic and diluted net income per share (in thousands, except per share amounts):


	Quarter Ended				Six Months Ended
	May 1,		May 2,		May 1,		May 2,
	2021		2020		2021		2020
Net income	$	103,117	$	91,655	$	158,465	$	153,983
Basic weighted average shares outstanding	155,331		153,858		155,257		154,099
Effect of dilutive potential common shares	1,545		1,283		1,477		1,344
Diluted weighted average shares	156,876		155,141		156,734		155,443
Basic EPS	$	0.66	$	0.60	$	1.02	$	1.00
Diluted EPS	$	0.66	$	0.59	$	1.01	$	0.99
Antidilutive employee share-based awards, excluded	30		203		82		467

Basic net income per common share (“Basic EPS”) is computed using the weighted average number of common shares outstanding. Diluted net income per potential common share (“Diluted EPS”) is computed using the weighted average number of the following, in each case, to the extent the effect is not anti-dilutive: (i) common shares outstanding; (ii) shares issuable upon vesting of stock unit awards; and (iii) shares issuable under Ciena’s employee stock purchase plan and upon exercise of outstanding stock options, using the treasury stock method.