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EARNINGS PER SHARE CALCULATION | 6 Months Ended
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Apr. 29, 2023
Earnings Per Share [Abstract] |
EARNINGS PER SHARE CALCULATION | EARNINGS PER SHARE CALCULATION 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 |  | Six Months Ended
| April 29, |  | April 30, |  | April 29, |  | April 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Net income | $ | 57,654 |  |  | $ | 38,922 |  |  | $ | 133,895 |  |  | $ | 84,745 |
Basic weighted average shares outstanding | 149,616 |  |  | 152,197 |  |  | 149,351 |  |  | 153,179 |
Effect of dilutive potential common shares | 531 |  |  | 1,147 |  |  | 501 |  |  | 1,401 |
Diluted weighted average shares | 150,147 |  |  | 153,344 |  |  | 149,852 |  |  | 154,580 |
Basic EPS | $ | 0.39 |  |  | $ | 0.26 |  |  | $ | 0.90 |  |  | $ | 0.55 |
Diluted EPS | $ | 0.38 |  |  | $ | 0.25 |  |  | $ | 0.89 |  |  | $ | 0.55 |
Antidilutive employee share-based awards, excluded | 1,550 |  |  | 1,392 |  |  | 2,159 |  |  | 1,077 |

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