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Ciena fiscal Q1 loss narrows YOY

Ciena Corp. said its normalized net income for the fiscal first quarter ended Jan. 31 amounted to a loss of 4 cents per share, compared with the S&P Capital IQ consensus estimate of 14 cents per share.

The per-share loss narrowed 30.0% year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $5.4 million, compared with a loss of $6.0 million in the prior-year period.

The normalized profit margin increased to negative 0.9% from negative 1.1% in the year-earlier period.

Total revenue climbed 8.3% year over year to $573.1 million from $529.2 million, and total operating expenses climbed 8.4% year over year to $560.2 million from $516.9 million.

Reported net income totaled a loss of $10.9 million, or a loss of 8 cents per share, compared to a loss of $18.3 million, or a loss of 17 cents per share, in the year-earlier period.