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News > Technology
Ciena 1Q beats estimates
February 15, 2001: 7:55 a.m. ET

Optical networking equipment maker boosts 2001 revenue growth outlook
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NEW YORK (CNNfn) - Ciena Corp. reported fiscal first-quarter earnings Thursday that beat Wall Street analysts' expectations and raised its revenue growth outlook for 2001.

The Linthicum, Md.-based company, which makes optical networking equipment, reported earnings of $54.1 million, or 18 cents a share, compared with $9.1 million, or 3 cents a share, in the year-earlier period.

Wall Street analysts expected Ciena to earn 15 cents a share, according to earnings tracker First Call.

The company also raised its 2001 revenue growth outlook to a range of 95 to 105 percent, compared with its earlier guidance of 75 to 85 percent.

"We expect our business will continue to grow faster than the overall market, provided we execute successfully," Ciena Chairman and CEO Patrick Nettles said.

Ciena reported first-quarter revenue of $352 million, compared with $152 million in the year-earlier period.

Ciena (CIEN: Research, Estimates) shares rose $5.81 to $82.63 in before-hours trading Thursday after rising $7.62 in Wednesday's regular hours. graphic




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