My take on the CIEN guidance is also more positive than the market took it.  

1.- On a YoY basis there is revenue growth

2.- On a YoY basis there is earnings growth

3.- As I stated, the multiple is reasonable

4.- There is this little detail of secular growth trends for this Industry

5.- The CEO is a veteran, he has been at the Ciena helm since the dot com days, he sure has lowered the bar to easily beat