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HANOVER, Md. (AP) _ Ciena Corp. (CIEN) on Thursday reported fiscal first-quarter profit of $55.3 million.
The Hanover, Maryland-based company said it had profit of 35 cents per share. Earnings, adjusted for one-time gains and costs, came to 52 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The developer of high-speed networking technology posted revenue of $757.1 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $750 million.
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Ciena shares have declined slightly more than 4% since the beginning of the year. The stock has risen 26% 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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