HANOVER, Md. (AP) — HANOVER, Md. (AP) — Ciena Corp. (CIEN) on Thursday reported fiscal second-quarter net income of $9 million.
The Hanover, Maryland-based company said it had profit of 6 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 42 cents per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The developer of high-speed networking technology posted revenue of $1.13 billion in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $1.1 billion.
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