Ciena Sales Boosted by Nortel Gear
NEW YORK (
) --
Ciena
(CIEN) - Get Report
delivered mixed fiscal fourth-quarter results, but it guided sales higher.
The Linthicum, Md. networking gear maker posted an adjusted loss of 18 cents a share, a deeper loss than the 12 cent adjusted deficit a year ago and 3 cents below analysts' targets.
Ciena Corp. headquarters |
Sales for the quarter ended Oct. 31 were $417.6 million, up 7% over the August quarter levels and well above the $176 million revenue a year-ago, prior to the
acquisition of Nortel's networking unit
, which contributed $255.6 million in sales in the October quarter.
Analysts were looking for sales of $405 million.
Looking ahead, Ciena says it expects January quarter sales to be in the range of $420 million, which is above the $415 million analysts were expecting.
Ciena shares were up more than 3% to $16.50 in pre-market trading Thursday.
--Written by Scott Moritz in New York.>To contact this writer, click here: Scott Moritz, or email: scott.moritz@thestreet.com.To follow Scott on Twitter, go to http://twitter.com/MoritzDispatch.>To send a tip, email: tips@thestreet.com.