Ciena Sales Boosted by Nortel Gear

Optical networking specialist missed bottom line target but sees stronger than expected sales ahead.
By Scott Moritz ,

NEW YORK (

TheStreet

) --

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.

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