Ciena's ( CIEN) first-quarter loss narrowed significantly on a 27% rise in sales, and the company said second-quarter revenue could top estimates. Ciena lost $6.3 million, or 1 cent a share, in the quarter, compared with a loss of $57 million, or 10 cents a share, a year ago. The company's adjusted loss also came out to a penny a share in the latest period. Sales were $120.4 million in the latest quarter, up from $90.4 million a year ago. On average, analysts surveyed by Thomson First Call were forecasting a loss of 2 cents a share on sales of $120.5 million in the most recent quarter. Ciena said second-quarter revenue could rise "by as much as 7%" from the first quarter, implying $128.8 million. The Thomson First Call consensus estimate for the quarter is $126.5 million. The company's outlook is "depending on the timing of revenue recognition associated with orders from several larger customers." "We expect our continued product- and manufacturing-related cost reductions and anticipated product and customer mix will enable us to maintain overall gross margin in excess of 40% during our fiscal second quarter," Ciena said. "In addition, we are continuing to pursue operating efficiencies designed to improve our operating margin, including ramping hiring at our Gurgaon, India development facility." The stock closed at $4.35 Wednesday.