Ciena Corp. on Thursday reported profit of $16.2 million in its fiscal third quarter.
The Hanover, Maryland-based company said it had profit of 15 cents per share. Earnings, adjusted for amortization costs and stock option expense, came to 32 cents per share.
The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The developer of high-speed networking technology posted revenue of $603.6 million in the period, also topping Street forecasts. Analysts expected $599.8 million, according to Zacks.
For the current quarter ending in October, Ciena said it expects revenue in the range of $570 million to $610 million. Analysts surveyed by Zacks had expected revenue of $629.4 million.
Ciena shares have decreased 15 percent since the beginning of the year. The stock has dropped 1 percent in the last 12 months.