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.

For more:
- read this story at MarketWatch

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

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