Ciena results miss estimates on lower optical equipment demand

(Reuters) - Network equipment maker Ciena Corp's fourth-quarter results missed analysts' estimates as revenue from the packet optical-transport and packet-optical switching businesses fell.

Network gear makers have been hit over the past few quarters as telecom service providers, their biggest customers, cut spending and delayed purchase of equipment.

Ciena said it expects first-quarter revenue of between $435 million and $460 million. Analysts were expecting revenue of $458.6 million, according to Thomson Reuters, I/B/E/S.

For the fourth quarter, net loss widened to $38.8 million, or 39 cents per share from $22.3 million, or 23 cents per share, a year earlier.

Excluding items, the company, which competes with Juniper Networks, Alcatel-Lucent and Infinera, lost 7 cents per share.

Revenue rose 2 percent to $465.5 million.

Analysts were expecting an adjusted loss of 6 cents per share, on revenue of $468.3 million.

Revenue from the packet-optical transport business, which brings in majority of its revenue, fell about 2 percent to $289.4 million. Revenue from its packet-optical switching business halved to $20.5 million.

Shares of the company, which have risen about 11 percent in the last three months, were down 4 percent at $14.95 before the bell.

(Reporting by Chandni Doulatramani in Bangalore; Editing by Supriya Kurane)

Source: http://news.yahoo.com/cienas-quarterly-loss-widens-121450860--finance.html

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