Ciena dives more than 10% after earnings miss

|About: Ciena Corporation (CIEN)|By:, SA News Editor

Ciena (CIENtumbles 11.5% premarket after a big miss on FQ4 results - reporting adjusted EPS of $0.16 per share vs. expectations of $0.24.

Adjusted gross margin of 40.8% compares to 43.6% the previous quarter. Adjusted operating margin of 4.7% falls from 8.2% the previous quarter. Operating expenses rose to $210.5M from $190.4M.

FQ1 revenue guidance of $515M-$545M is inline with Street expectations.

The company will swap its Nasdaq (NDAQ) listing for one on the NYSE (ICE). The stock symbol will remain the same.

CC at 8:30 ET