Ciena Corp (CIEN) reported fourth-quarter FY21 revenue growth of 25.7 percent year-on-year to $1.04 billion, beating the consensus of $1.03 billion. Segments Total Networking Platforms revenue rose by 30.5 percent Y/Y to $828.8 million, and Total Global Services increased 7.6 percent Y/Y to $126.8 million. Margins The adjusted gross margin contracted 320 bps to 46.3 percent as costs surged 33.1 percent Y/Y. The adjusted operating margin expanded 100 bps to 16.8 percent as operating costs rose 9.3 percent Y/Y. The non-GAAP EPS of $0.85 was in-line with the consensus. Ciena held $1.7 billion in cash and equivalents and generated $254.9 million in operating cash flow. Share Buyback On December 1, 2021, the board authorized up to $1.0 billion to repurchase, replacing the previous share repurchase authorization. Ciena aims to enter into an accelerated share repurchase (ASR) arrangement to repurchase $250 million shares under the new program. The final settlement of …