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HANOVER, Md. (AP) _ Ciena Corp. (CIEN) on Thursday reported fiscal fourth-quarter profit of $64 million.
On a per-share basis, the Hanover, Maryland-based company said it had profit of 34 cents. Earnings, adjusted for one-time gains and costs, came to 53 cents per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The developer of high-speed networking technology posted revenue of $899.4 million in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $860.5 million.
For the year, the company reported a loss of $344.7 million, or $2.49 per share, swinging to a loss in the period. Revenue was reported as $3.09 billion.
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Ciena shares have risen 54 percent since the beginning of the year. The stock has increased 49 percent in the last 12 months.
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
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