Ciena Corp. (CIEN) on Thursday reported profit of $16.2 million in its fiscal third quarter.
The Hanover, Maryland-based company said it had profit of 15 cents per share. Earnings, adjusted for amortization costs and stock option expense, came to 32 cents per share.
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The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The developer of high-speed networking technology posted revenue of $603.6 million in the period, also topping Street forecasts. Analysts expected $599.8 million, according to Zacks.
For the current quarter ending in October, Ciena said it expects revenue in the range of $570 million to $610 million. Analysts surveyed by Zacks had expected revenue of $629.4 million.
Ciena shares have decreased 15 percent since the beginning of the year. The stock has dropped 1 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. A stock research report on CIEN from Zacks is available at: http://www.zacks.com/ap/CIEN