Ciena Falls 6.3% After Beating Street

Network equipmentmaker

Ciena

(CIEN) - Get Report

was down 6.3% in preopen

Island

trading after reporting fourth-quarter earnings of 14 cents per share. That beat the Street's estimate of 12 cents the year-ago 2 cents. The company also said it is raising its guidance, predicting that 2001 revenue will be up 75% to 85% compared to 2000.