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Ciena 2Q loss narrows on higher sales

Communications network equipment maker Ciena Corp. said Thursday that its second-quarter loss narrowed, helped by a 14 percent jump in revenue.

Gary Smith, the company’s president and chief executive, said Ciena remains well positioned for future growth and still expects its operating results for the second half of the year to be stronger than those of the first half.

Its adjusted results beat Wall Street expectations, and 6.5 percent in morning trading.

For the quarter ended April 30, the Linthicum-based company posted a net loss of $27.8 million, or 28 cents per share, compared with a net loss of $62.7 million, or 66 cents per share, in the same quarter last year.

Excluding one-time items, Ciena said it had a profit of 4 cents per share.

Revenue rose to $477.6 million from $417.9 million.

Analysts, on average, expected a loss of 3 cents per share on $447 million in revenue, according to a FactSet poll.

Ciena makes software and equipment that companies use to manage big communications networks for voice, video and data messages.

The company projected third-quarter revenue of $455 million to $485 million, while analysts polled by FactSet expect $470.4 million in revenue.

Ciena shares rose 77 cents, or 6.5 percent, to $12.65 in morning trading. Its shares are up 28 percent from their 52-week low of $9.89 in early October. They rose as high as $26.20 last June.

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