Ciena Corp. Q4 Profit Increases, beats estimates

(RTTNews) - Ciena Corp. (CIEN) reported earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $91.20 million, or $0.62 per share. This compares with $57.65 million, or $0.39 per share, in last year's fourth quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $111.22 million or $0.75 per share for the period.

Analysts on average had expected the company to earn $0.69 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.4% to $1.13 billion from $971.01 million last year.

Ciena Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $91.20 Mln. vs. $57.65 Mln. last year. -EPS (Q4): $0.62 vs. $0.39 last year. -Analyst Estimate: $0.69 -Revenue (Q4): $1.13 Bln vs. $971.01 Mln last year.