Ciena Stock Soars After Telecom Gear Maker Trounces Q3 Targets
Summary
XThe Hanover, Md.-based company earned an adjusted 48 cents a share on sales of $818.8 million in the quarter ended July 31."One minor blemish was that gross margin in fiscal Q4 could be down quarter-to-quarter mainly due to new deployments with higher startup costs," B. Riley FBR analyst Dave Kang said in a report.The lions share of hardware sales came from the companys converged packet optical systems, it said.Chief Executive Gary Smith said customer demand for Cienas products and services was robust and broad-based last quarter."With our diversification, global scale and innovation leadership, we remain confident in our business model and our ability to achieve our three-year financial targets," he said in a news release .
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Ciena Corporation
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