Ciena Jumps Up On Good Numbers

Investing

Published: August 30, 2007 6:35 am

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Ciena (CIEN) network specialist, announced results for its fiscal third quarter ended July 31, 2007. Revenue for the third quarter totaled $205.0 million, an increase of 34.4% over the same period a year ago when the firm reported sales of $152.5 million.

Ciena’s net income for the fiscal third quarter 2007 was $28.3 million, or $0.29 per diluted share. compared with a reported GAAP net loss of $4.3 million, or a loss of $0.05 per share, for the same period a year ago.

"Consistent execution of our network specialist strategy has enabled Ciena to benefit from two significant industry trends: the demand for increasing network capacity and the transition to Ethernet/IP-based network infrastructures," said Gary Smith, Ciena president and CEO

Shares are up almost 7% in the pre-market to $40.82, which means the company could open at a 52-week high.

Douglas A. McIntyre

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