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Ciena Rally Keeps Building
Updated from 9:25 a.m.
Ciena (CIEN Quote) soared 14% Thursday after the networking gearmaker beat second-quarter targets and raised guidance, citing a strong "demand pipeline."
The Linthicum, Md., optical networking company made $13 million, or 14 cents a share, for the quarter ended April 30, reversing the year-ago loss of $1.9 million, or 2 cents a share. Sales rose 17% sequentially and 48% from a year ago to $193.5 million.
On a non-GAAP basis, excluding certain costs, earnings rose to 26 cents a share from 6 cents a year ago. Analysts surveyed by Thomson Financial were looking for a 25-cent profit on sales of $180 million. ...
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