EARNINGS PER SHARE CALCULATION

12 Months Ended

Oct. 29, 2022

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.

The following table presents the calculation of Basic and Diluted EPS (in thousands except per share amounts):


	Year Ended
	October 29, 2022		October 30, 2021		October 31, 2020
Net income	$	152,902	$	500,196	$	361,291
Basic weighted average shares outstanding	151,208		155,279		154,287
Effect of dilutive potential common shares	985		1,464		1,668
Diluted weighted average shares	152,193		156,743		155,955
Basic EPS	$	1.01	$	3.22	$	2.34
Diluted EPS	$	1.00	$	3.19	$	2.32
Antidilutive employee share-based awards, excluded	1,370		110		263