CIENA Corporation’s (NASDAQ:CIEN) fourth quarter loss narrowed, beating estimates. Loss narrowed to $22.3 million (loss of 23 cents per diluted share) from $80.3 million (loss of 85 cents per share) in the same quarter a year earlier. Revenue rose 9.1% to $455.5 million from the year earlier quarter. CIEN reported adjusted net income of 3 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 5 cents per share. Analysts were expecting revenue of $450.3 million.
“We continue to deliver on the growth and operating efficiency milestones we laid out early last year, and remain focused on delivering operating leverage from the business. Our strong fourth quarter financial performance included positive cash flow and a second consecutive quarter of as-adjusted operating profit,” said Gary Smith, president and CEO of Ciena. “While macroeconomic uncertainty remains, we are taking market share because customers recognize our differentiation and the strong alignment of our portfolio with their network architecture priorities.”
Competitors to Watch: Tellabs, Inc. (NASDAQ:TLAB), Alcatel-Lucent (NYSE:ALU), Cisco Systems, Inc. (NASDAQ:CSCO), ADTRAN, Inc. (NASDAQ:ADTN), Sycamore Networks, Inc. (NASDAQ:SCMR), Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC), Orckit Communications Ltd (NASDAQ:ORCT), Juniper Networks, Inc. (NYSE:JNPR), Infinera Corp. (NASDAQ:INFN), and JDS Uniphase Corporation (NASDAQ:JDSU).
Comtech Telecommunications Corp. (NASDAQ:CMTL) posted a decrease in profit as revenue declined. Net income for Comtech Telecommunications Corp. fell to $12.6 million (47 cents per share) vs. $25.7 million (79 cents per share) a year earlier. This is a decline of 50.9% from the year earlier quarter. Revenue fell 36.3% to $113.4 million from the year earlier quarter. CMTL reported adjusted net income of 41 cents per share. By that measure, the company beat the mean estimate of 30 cents per share. It beat the average revenue estimate of $93.5 million.
Fred Kornberg, President and Chief Executive Officer, stated, “Despite extraordinarily volatile market conditions, we believe that our market leadership positions are firmly intact. During the first quarter, our business, excluding revenues related to the MTS and BFT-1 programs, achieved revenue growth of approximately 6.4% as compared to the first quarter of last year and we are extremely pleased with this achievement.”
Competitors to Watch: ViaSat, Inc. (NASDAQ:VSAT), Globecomm Systems, Inc. (NASDAQ:GCOM), EMS Technologies, Inc. (NASDAQ:ELMG), Harris Corporation (NYSE:HRS), General Dynamics Corp. (NYSE:GD), CalAmp Corp. (NASDAQ:CAMP), PHAZAR CORP. (NASDAQ:ANTP), Motorola Solutions Inc (NYSE:MSI), KVH Industries, Inc. (NASDAQ:KVHI), and Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC).
The Cooper Companies Inc. (NYSE:COO) reported net income above Wall Street’s expectations for the fourth quarter. Net income for The Cooper Companies Inc. rose to $56.6 million ($1.15 per share) vs. $48.2 million ($1.03 per share) in the same quarter a year earlier. This marks a rise of 17.5% from the year earlier quarter. Revenue rose 15.2% to $360.9 million from the year earlier quarter. COO reported adjusted net income of $1.46 per share. By that measure, the company beat the mean estimate of $1.21 per share. Analysts were expecting revenue of $356.9 million.
Robert S. Weiss, Cooper’s president and chief executive officer said, “I am pleased to report record financial results for fiscal 2011 including record revenues at both our business units. We are proud of our many accomplishments including CooperVision’s global launch of Biofinity(NYSE:R) Multifocal and its launch of Biofinity(NYSE:R) Sphere into Japan. We continued to gain market share, post solid margins, and significantly strengthen our balance sheet. While we experienced challenges such as the voluntary recall of limited lots of our Avaira(NYSE:R) product family, we remain encouraged by our business trends and believe we are well positioned to deliver strong operating results in fiscal 2012.”
Competitors to Watch: STAAR Surgical Company (NASDAQ:STAA), Teleflex Incorporated (NYSE:TFX), Utah Medical Products, Inc. (NASDAQ:UTMD), Atrion Corporation (NASDAQ:ATRI), Covidien plc (NYSE:COV), Shamir Optical Industry Ltd. (NASDAQ:SHMR), Novartis AG (NYSE:NVS), C.R. Bard, Inc. (NYSE:BCR), Johnson & Johnson (NYSE:JNJ), and Boston Scientific Corp. (NYSE:BSX).