Ciena Corp. Q4 adjusted earnings Miss Estimates

(RTTNews) - Ciena Corp. (CIEN) announced a profit for fourth quarter that declined from the same period last year.

The company's profit totaled $65.04 million, or $0.42 per share. This compares with $80.33 million, or $0.51 per share, in last year's fourth quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $94.52 million or $0.60 per share for the period.

Analysts had expected the company to earn $0.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 14.4% to $828.48 million from $967.99 million last year.

Ciena Corp. earnings at a glance:

-Earnings (Q4): $94.52 Mln. vs. $90.44 Mln. last year. -EPS (Q4): $0.60 vs. $0.58 last year. -Analysts Estimate: $0.63 -Revenue (Q4): $828.48 Mln vs. $967.99 Mln last year.