Ciena Corp. Q1 adjusted earnings Beat Estimates

(RTTNews) - Ciena Corp. (CIEN) reported a profit for its first quarter that increased from last year.

The company's bottom line totaled $62.33 million, or $0.40 per share. This compares with $33.62 million, or $0.21 per share, in last year's first quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $81.75 million or $0.52 per share for the period.

Analysts had expected the company to earn $0.38 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.0% to $832.91 million from $778.53 million last year.

Ciena Corp. earnings at a glance:

-Earnings (Q1): $81.75 Mln. vs. $52.82 Mln. last year. -EPS (Q1): $0.52 vs. $0.33 last year. -Analysts Estimate: $0.38 -Revenue (Q1): $832.91 Mln vs. $778.53 Mln last year.