Ciena: Fiscal 4Q Earnings Snapshot

HANOVER, Md. (AP) _ Ciena Corp. (CIEN) on Thursday reported fiscal fourth-quarter earnings of $80.3 million.

On a per-share basis, the Hanover, Maryland-based company said it had net income of 51 cents. Earnings, adjusted for one-time gains and costs, came to 58 cents per share.

The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.

The developer of high-speed networking technology posted revenue of $968 million in the period, which topped Street forecasts. Seven analysts surveyed by Zacks expected $964.8 million.

For the year, the company reported net income of $253.4 million, or $1.61 per share, swinging to a profit in the period. Revenue was reported as $3.57 billion.

Ciena shares have climbed slightly more than 4% since the beginning of the year. The stock has risen 12% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CIEN at https://www.zacks.com/ap/CIEN