Ciena Earnings Miss; Optical Firm Sets $300 Million Stock Buyback – Investor's Business Daily

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Ciena (CIEN) said Thursday that adjusted fiscal fourth-quarter earnings were 46 cents a share, up 4% from a year ago, with revenue rising 4% to $744.4 million. Analysts expected Ciena to report earnings of 50 cents on sales of $737 million for the period ended Oct. 31.

X Ciena announced a $300 million stock buyback through fiscal 2020.

Ciena said it would report non-GAAP earnings differently. Under that new method, Ciena said fiscal Q4 profit was 32 cents a share vs. 30 cents a share a year earlier.

Shares in the maker of optical systems for communications networks and data centers fell 2.2% to 20.71 in early trading in the stock market today.

Finisar (FNSR), another fiber optic play, reports fiscal second-quarter earnings after Thursday’s close. Finisar shares were not yet active.

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