Ciena (CIEN) Swings To Earnings In Q1 On Higher Revenues
Zacks Investment Research | Mar 05, 2019 08:25PM ET
Ciena Corporation (NYSE:CIEN) reported healthy first-quarter fiscal 2019 (ended Jan 31, 2019) financial results wherein both the top line and bottom line improved year over year. This was driven by solid execution of operational strategies, including diversifying business and leveraging global scale.
Net Income
On a GAAP basis, net income for the quarter was $33.6 million or 21 cents per share against net loss of $473.4 million or loss of $3.29 per share in the year-ago quarter. The year-over-year improvement was primarily backed by top-line growth and lower provision for income tax. Non-GAAP net income came in at $52.8 million or 33 cents per share compared with $21.9 million or 15 cents per share in the prior-year quarter.
Ciena Corporation Price, Consensus and EPS Surprise
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