Ciena Corp. Q1 adjusted earnings Beat Estimates

(RTTNews) - Ciena Corp. (CIEN) released a profit for first quarter that dropped from last year.

The company's bottom line came in at $55.35 million, or $0.35 per share. This compares with $62.33 million, or $0.40 per share, in last year's first quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $81.29 million or $0.52 per share for the period.

Analysts had expected the company to earn $0.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.1% to $757.13 million from $832.91 million last year.

Ciena Corp. earnings at a glance:

-Earnings (Q1): $81.29 Mln. vs. $81.75 Mln. last year. -EPS (Q1): $0.52 vs. $0.52 last year. -Analysts Estimate: $0.45 -Revenue (Q1): $757.13 Mln vs. $832.91 Mln last year.