Ciena Corp. (NASDAQ: CIEN) is one of the few bright spots out there in the market this morning. The company beat earnings expectations by posting $0.47 EPS and revenues were up over 37% from the same quarter last year to $227.4 million. First Call had estimates at $0.40 EPS and $225.6 million in revenues.
The company is noting that indications from customers suggest no change in the strength of its business and it remains optimistic about the year. While this includes the gains from the buyout of World Wide Packets, the company expects annual revenue growth of up to 27% in 2008.
Ciena shares are up 4% at $26.00 in active pre-market trading and the company’s 52-week trading range for the stock is $21.40 to $49.55.
Jon C. Ogg
March 7, 2008