Ciena Corp. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Ciena Corp. (CIEN) revealed earnings for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $14.23 million, or $0.10 per share. This compares with $29.73 million, or $0.20 per share, in last year's third quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $50.81 million or $0.35 per share for the period.

Analysts on average had expected the company to earn $0.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.7% to $942.31 million from $1.067 billion last year.

Ciena Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $14.23 Mln. vs. $29.73 Mln. last year. -EPS (Q3): $0.10 vs. $0.20 last year. -Revenue (Q3): $942.31 Mln vs. $1.067 Bln last year.