EARNINGS PER SHARE CALCULATION

12 Months Ended

Oct. 28, 2023

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 28, 2023		October 29, 2022		October 30, 2021
Net income	$	254,827	$	152,902	$	500,196
Basic weighted average shares outstanding	148,971		151,208		155,279
Effect of dilutive potential common shares	409		985		1,464
Diluted weighted average shares outstanding	149,380		152,193		156,743
Basic EPS	$	1.71	$	1.01	$	3.22
Diluted EPS	$	1.71	$	1.00	$	3.19
Antidilutive employee share-based awards, excluded	2,675		1,370		110