Ciena Corp. Q4 Profit Increases, beats estimates

(RTTNews) - Ciena Corp. (CIEN) released earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $76.24 million, or $0.51 per share. This compares with $45.82 million, or $0.29 per share, in last year's fourth quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $95.56 million or $0.64 per share for the period.

Analysts on average had expected the company to earn $0.36 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 25.5% to $1.06 billion from $844.44 million last year.

Ciena Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $76.24 Mln. vs. $45.82 Mln. last year. -EPS (Q4): $0.51 vs. $0.29 last year. -Analyst Estimate: $0.36 -Revenue (Q4): $1.06 Bln vs. $844.44 Mln last year.