Ciena Corp. Q1 Profit Decreases, but beats estimates

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

The company's earnings came in at $45.82 million, or $0.29 per share. This compares with $55.35 million, or $0.35 per share, in last year's first quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $72.55 million or $0.47 per share for the period.

Analysts on average 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 rose 11.5% to $844.44 million from $757.13 million last year.

Ciena Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $45.82 Mln. vs. $55.35 Mln. last year. -EPS (Q1): $0.29 vs. $0.35 last year. -Analyst Estimates: $0.45 -Revenue (Q1): $844.44 Mln vs. $757.13 Mln last year.