Ciena Corp. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Ciena Corp. (CIEN) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $44.57 million, or $0.31 per share. This compares with $49.55 million, or $0.34 per share, last year.

Excluding items, Ciena Corp. reported adjusted earnings of $93.96 million or $0.64 per share for the period.

Analysts on average had expected the company to earn $0.41 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 3.4% to $1.072 billion from $1.037 billion last year.

Ciena Corp. earnings at a glance (GAAP) :

-Earnings: $44.57 Mln. vs. $49.55 Mln. last year. -EPS: $0.31 vs. $0.34 last year. -Revenue: $1.072 Bln vs. $1.037 Bln last year.