Ciena’s second-quarter profit climbs 83 percent

Thu, 06/05/2008 - 8:15am
Mike Robuck

Ciena’s bottom line isn’t feeling any effects of a recession as the equipment maker announced today that its second-quarter profit increased by 83 percent.

In the second-quarter, telecommunications companies such as Embarq, which purchased Ciena’s 4200 FlexSelect platform for deployment throughout its network, snapped up Ciena’s fiber-optic gear to increase the speed and scope of their networks.

Ciena’s net income jumped to $23.8 million, or 23 cents per share, from $13 million, or 14 cents per share, a year ago. Revenues for Linthicum, Md.-based Ciena climbed 25 percent, to $242.2 million, compared with revenues of $193.5 million in the second quarter of last year. Analysts had predicted revenues of $238.3 million.

Excluding share-based compensation and other cost items, Ciena earned 40 cents per share, while Thomson Financial analysts had expected profit of 37 cents per share.

Ciena reiterated its forecast for sales growth of as much as 27 percent this fiscal year.

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