Ciena Posts Narrower Loss, Lower Revenues for Q1
Ciena (NASDAQ: CIEN) posted a loss of $47.7 million, $.49/share, for the first quarter, which was narrower than the $79.1 million or $$0.84/share from a year ago. Analysts had expected a Q1 loss of $0.04/share.
The company said revenues fell to $416.7 million, as compared to the year-ago $433.3 million. For the second quarter, Ciena guides to revenues between $435 million and $460 million. Analysts expect that number to $450.6 million.
CIEN closed at $13.44 a share on Tuesday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.