Shares of Ciena Corp. (CIEN, Financial) jumped more than 7% on Thursday after the company posted fourth-quarter earnings of 53 cents per share on $899.36 million in revenue, a 20.8% year-over-year growth. The company beat earnings estimates by 5 cents and revenue expectations by $37.72 million.
"The combination of our innovation strength, successful interception of market trends and sustained ability to take share and outperform the market, along with a thriving industry environment, gives us tremendous confidence in both the near and longer term outlook for our business,” President and CEO Gary B. Smith said.
Revenue from North America grew 26.1% from the prior-year quarter to $555.3 million. In Europe, the Middle East and Africa, revenue increased 11.2% to $123.1 million. In the Caribbean and Latin America, revenue climbed 21.8% to $53 million. In Asia Pacific, revenue was $168 million, up 12.2%.
The gross margin was 44.3%, an increase from 43.7% registered in the year-ago quarter. The adjusted earnings before interest, taxes, depreciation and amortization was $145.8 million, up from $109.7 million.
Further, during fiscal 2018, the company repurchased 4.3 million shares for an average price of $25.86 per share, accounting for an aggregate price of $111 million.
Shares of Tailored Brands Inc. (TLRD, Financial) plummeted 30% on Thursday after announcing third-quarter results on Wednesday. The company posted earnings of $1.01 per share on $812.75 million in revenue, a 0.2% increase from the prior-year quarter.The company beat earnings estimates by 7 cents, but fell $6.74 million short of revenue expectations.
The gross margin was 44.6% of sales, or $362.7 million, increasing by $4 million as a result of higher retail clothing product sales.
Looking ahead to the fourth quarter, the company expects an adjusted loss of 24 cents to 29 cents per share. For the year, Tailored Brands projects adjusted diluted earnings between $2.30 and $2.35 per share, up from the previous guidance of $2.35 to $2.50.
Disclosure:The author holds no positions in any stocks mentioned.
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