Ciena Corp. Q3 Profit Tops Estimates; Names François Locoh-Donou COO

(RTTNews) - Ciena Corp. (CIEN), the network specialist, reported third-quarter net income of $23.6 million, or $0.19 per share, compared to $16.2 million, or $0.15 per share, a year ago. Adjusted net income was $50.7 million, or $0.37 per share, for the fiscal third quarter 2015.

On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $0.34 for the quarter. Analysts' estimates typically exclude special items.

Revenue was $602.9 million compared to $603.6 million, last year. Analysts expected revenue of $629.87 million for the quarter.

Gary Smith, president and CEO of Ciena, said: "Despite short-term revenue headwinds related to the timing of network implementations at certain large service provider customers, fundamental demand drivers for our business remain strong. In fact, we now expect to exceed 10% adjusted operating margin for the full fiscal year."

Ciena expects fourth quarter revenue, inclusive of a full quarter of results from the acquired Cyan business, to be in the range of $665 to $700 million. Analysts expect the company to report fourth-quarter revenue of $662.76 million.

Ciena also announced that François Locoh-Donou has been appointed senior vice president and chief operating officer, effective November 1, 2015. In the new position, Locoh-Donou will assume responsibility for Ciena's Global Field Organization, including the global sales and services functions, while retaining his existing responsibility for Ciena's research and development, product line management, supply chain and quality functions.

Locoh-Donou joined Ciena in 2002 and has served as senior vice president, Global Products Group since August 2011.