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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Tim Luke who wrote (43559)	5/20/1999 11:50:00 PM
From: kathyh	Respond to of 90042

they sold??? <ggg> cien beats first call by 4 cents... up a bit in after hours... Thursday May 20, 9:45 pm Eastern Time Ciena posts quarterly profit, beating estimates LINTHICUM, Md., May 20 (Reuters) - Ciena Corp. (Nasdaq:CIEN - news), a maker of equipment that expands telecommunications network capacity, said Thursday it earned $1.6 million in its second quarter, beating Wall Street expectations of a loss. The company said it continues to win business in the face of tough competition from larger rivals, ''often despite their ability to offer bundled pricing and financing deals.'' Ciena's comments seemed particularly poignant, as earlier Thursday Lucent Technologies Inc. (NYSE:LU - news), the world's largest telecommunications equipment maker, touted a contract it had won to provide dense wave division multiplexing (DWDM) equipment to British Telecommunications Plc (quote from Yahoo! UK & Ireland: BT.L), the largest phone company in the United Kingdom. Ciena was the commercial pioneer of DWDM equipment. Ciena said it is ''optimistic'' about near-term growth in its core optical transport business. Linthicum, Md.-based Ciena said earnings amounted to one cent a share, and included merger-related costs of $2.3 million associated with its acquisition of Lightera Networks. That compared with earnings of $15.2 million, or 14 cents a share, in the year-ago period. Analysts had on average expected Ciena to lose 3 cents a share in the recent quarter, according to First Call Corp., which tracks company earnings. Second-quarter revenue was $111.5 million, compared with $142.7 million a year earlier. Ciena shares fell $2.25, to $26.375, in trading on the Nasdaq stock market, before the after-hours earnings announcement. The shares rose 62.5 cents to $27 in after-hours trading. --------------------------------------------------------------------------------