RTTNews | Dec 9, 2021 09:58AM EST

09:58 Thursday, December 9, 2021 (RTTNews.com) - Shares of Ciena Corporation (CIEN), a networking systems, services, and software company, are rising more than 13% in the morning trade on Thursday after reporting more than 25% revenue growth in the fourth quarter, that beat the consensus estimate.

Revenue for the quarter increased 25.7% year over year to $1.04 billion. The consensus estimate of analysts polled by Thomson Reuters was for $1.03 billion.

Net income was $103.5 million, or $0.66 per share, significantly higher than $65.0 million, or $0.42 per share in the same quarter a year ago.

Excluding one-time items, the company reported earnings of $0.85 per share, meeting the analysts' view.

CIEN touched a new high of $73.33 this morning, before slipping to trade at $70.41 currently.

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