Ciena Corp. Q3 Profit Increases, beats estimates

(RTTNews) - Ciena Corp. (CIEN) revealed a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $29.73 million, or $0.20 per share. This compares with $10.51 million, or $0.07 per share, in last year's third quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $89.11 million or $0.59 per share for the period.

Analysts on average had expected the company to earn $0.51 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 23.0% to $1.07 billion from $0.87 billion last year.

Ciena Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $29.73 Mln. vs. $10.51 Mln. last year. -EPS (Q3): $0.20 vs. $0.07 last year. -Analyst Estimate: $0.51 -Revenue (Q3): $1.07 Bln vs. $0.87 Bln last year.