Network specialist Ciena Corp.'s (CIEN) first-quarter GAAP net loss narrowed marginally to $47.32 million, from last year's $47.7 million loss, with three-month loss per share reducing to $0.47, from $0.49 a year back.
On a non-GAAP basis, Ciena's adjusted net income totaled $12.3 million, or $0.12 per share in the recent quarter. On average, 19 analysts polled by Thomson Reuters expected loss per share of $0.14 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly revenue stood at $453.1 million, compared with last year's $416.7 million. Analysts estimated revenues of $449.14 million for the quarter.
Looking forward to fiscal second quarter 2013, Ciena expects revenue in the range of $465 million - $495 million, as well as adjusted gross margin in the low 40s percent range. Twenty analysts project second-quarter revenue of $482.13 million.
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