Ciena Corp. Q3 Profit Decreases, misses estimates

(RTTNews) - Ciena Corp. (CIEN) released earnings for third quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $10.51 million, or $0.07 per share. This compares with $238.23 million, or $1.52 per share, in last year's third quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $49.03 million or $0.33 per share for the period.

Analysts on average had expected the company to earn $0.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 12.2% to $867.98 million from $988.14 million last year.

Ciena Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $10.51 Mln. vs. $238.23 Mln. last year. -EPS (Q3): $0.07 vs. $1.52 last year. -Analyst Estimates: $0.34 -Revenue (Q3): $867.98 Mln vs. $988.14 Mln last year.