1
CIENA CORPORATION
EXHIBIT 11
COMPUTATION OF PRO FORMA EARNINGS (LOSS) PER SHARE
Three months ended January 31,
1996 1997
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Net income (loss) $ (3,334,000) $ 13,083,000
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Weighted average shares of common
stock outstanding 12,110,000 13,245,000
Weighted average effect of convertible
preferred stock on as-if-converted
basis 62,551,000 73,316,000
Weighted average effect of common
stock equivalents 6,981,000 11,893,000
Staff Accounting Bulletin No. 83
issuances and grants:
Common shares issued within one
year of initial filing 1,081,000 268,000
Common stock equivalents issued within
one year of initial filing 5,623,000 703,000
Convertible preferred stock issued within
one year of initial filing 10,765,000 -
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99,111,000 99,425,000
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Pro forma net income (loss) per common
and common equivalent share $ (0.03) $ 0.13
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