HANOVER, Md. (AP) — HANOVER, Md. (AP) — Ciena Corp. (CIEN) on Tuesday reported fiscal first-quarter profit of $44.6 million.
The Hanover, Maryland-based company said it had net income of 31 cents per share. Earnings, adjusted for one-time gains and costs, came to 64 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The developer of high-speed networking technology posted revenue of $1.07 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $1.05 billion.
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