HANOVER, Md. (AP) — HANOVER, Md. (AP) — Ciena Corp. (CIEN) on Thursday reported fiscal third-quarter earnings of $29.7 million.
On a per-share basis, the Hanover, Maryland-based company said it had profit of 20 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 59 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The developer of high-speed networking technology posted revenue of $1.07 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $1.05 billion.