Ciena profit surges 62%, 2008 looks good

Ciena Corp. issued results for its fiscal first quarter that showed a 62 percent increase in net income to about $28.8 million, or 28 cents per share. Revenue was up about 38 percent for the quarter, fueled by deals from the likes of AT&T and BT and overall strong carrier spending. Also, after what seemed like a long string of recent vendor earnings reports that looked positive on the surface only to reveal dim forecasts for this year, Ciena came out with a 2008 forecast for revenue growth of 27 percent. That's actually higher than analysts' estimates for the year by about 5 percent.

Ciena also just closed its acquisition of World Wide Packets. Things are looking up for at least one company even as the many others in the industry only see uncertainty.

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Related article:
- Ciena announced its acquisition of World Wide Packets in January