Ciena Corp. Q4 adjusted earnings Miss Estimates

(RTTNews) - Ciena Corp. (CIEN) announced earnings for its fourth quarter that advanced from last year.

The company's profit came in at $80.33 million, or $0.51 per share. This compares with $63.98 million, or $0.34 per share, in last year's fourth quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $90.44 million or $0.58 per share for the period.

Analysts had expected the company to earn $0.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.6% to $967.99 million from $899.36 million last year.

Ciena Corp. earnings at a glance:

-Earnings (Q4): $90.44 Mln. vs. $81.01 Mln. last year. -EPS (Q4): $0.58 vs. $0.53 last year. -Analysts Estimate: $0.63 -Revenue (Q4): $967.99 Mln vs. $899.36 Mln last year.