Network gear maker Ciena's profit misses analysts estimates

Thu Dec 12, 2013 7:20am EST

Dec 12 (Reuters) - Network equipment maker Ciena Corp reported a lower-than-expected quarterly profit as costs rose 20 percent, sending its shares down 8 percent before the bell.

Ciena's net loss narrowed to $9.8 million, or 9 cents per share in the fourth quarter, from $38.8 million, or 39 cents per share, a year earlier.

But excluding items, the company earned 16 cents per share.

Revenue rose 25 percent to $583.4 million.

Analysts on average had expected earnings of 24 cents on revenue of $568.5 million, according to Thomson Reuters I/B/E/S.

Ciena, which makes equipment that expands capacity of fiber-optic networks, counts AT&T Inc, Verizon Communications Inc and Vodafone Group Plc among its customers. (Writing by Sruthi Ramakrishnan and Neha Alawadhi in Bangalore; Editing by Sriraj Kalluvila)

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