HANOVER, Md. (AP) _ Ciena Corp. (CIEN) on Thursday reported fiscal third-quarter earnings of $238.2 million.

The Hanover, Maryland-based company said it had net income of $1.52 per share. Earnings, adjusted for non-recurring gains, came to 92 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.

The developer of high-speed networking technology posted revenue of $988.1 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $968.6 million.

Ciena shares have risen nearly 8% since the beginning of the year. The stock has decreased almost 3% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CIEN at https://www.zacks.com/ap/CIEN

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News