Ciena Corp. Q1 Profit Decreases, but beats estimates

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

The company's earnings came in at $49.55 million, or $0.34 per share. This compares with $76.24 million, or $0.51 per share, in last year's first quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $96.79 million or $0.66 per share for the period.

Analysts on average had expected the company to earn $0.48 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.9% to $1.04 billion from $1.06 billion last year.

Ciena Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $49.55 Mln. vs. $76.24 Mln. last year. -EPS (Q1): $0.34 vs. $0.51 last year. -Revenue (Q1): $1.04 Bln vs. $1.06 Bln last year.