Ciena Corp. Q2 Profit Decreases, misses estimates

(RTTNews) - Ciena Corp. (CIEN) announced earnings for second quarter that decreased from last year and missed the Street estimates.

The company's bottom line totaled $38.92 million, or $0.25 per share. This compares with $103.12 million, or $0.66 per share, in last year's second quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $76.44 million or $0.50 per share for the period.

Analysts on average had expected the company to earn $0.54 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.8% to $949.23 million from $833.93 million last year.

Ciena Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $38.92 Mln. vs. $103.12 Mln. last year. -EPS (Q2): $0.25 vs. $0.66 last year. -Analyst Estimates: $0.54 -Revenue (Q2): $949.23 Mln vs. $833.93 Mln last year.