Ciena Corp. Q4 Profit Decreases, but beats estimates

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

The company's bottom line came in at $57.65 million, or $0.39 per share. This compares with $103.50 million, or $0.66 per share, in last year's fourth quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $90.92 million or $0.61 per share for the period.

Analysts on average had expected the company to earn $0.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.6% to $971.01 million from $1.04 billion last year.

Ciena Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $57.65 Mln. vs. $103.50 Mln. last year. -EPS (Q4): $0.39 vs. $0.66 last year. -Analyst Estimates: $0.08 -Revenue (Q4): $971.01 Mln vs. $1.04 Bln last year.