EARNINGS PER SHARE CALCULATION

3 Months Ended

Jan. 27, 2024

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 that 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 for the periods indicated (in thousands, except per share amounts):


	Quarter Ended
	January 27,		January 28,
	2024		2023
Net income	$	49,547	$	76,241
Basic weighted average shares outstanding	145,291		149,081
Effect of dilutive potential common shares	557		470
Diluted weighted average shares	145,848		149,551
Basic EPS	$	0.34	$	0.51
Diluted EPS	$	0.34	$	0.51
Antidilutive employee share-based awards, excluded	2,491		2,768