Linthicum-Based Ciena Shares Rise Sharply

Ciena Corp., of Linthicum, a manufacturer of computer-networking equipment for telephone companies such as BT Group plc, climbed the most in four months in Nasdaq Stock Market trading after raising its fourth-quarter profit margin forecast. Gross margin, the percentage of sales left after production costs, will be 47 percent to 49 percent, the company said Tuesday at an event in New York. Chief Executive Officer Gary Smith had forecast gross margin in August in the mid-40s. The quarter ends on Oct. 31. Ciena shares climbed $3.49, or 8.9 percent, to $42.66 at 4 p.m. Tuesday, the most since May 31. The stock has advanced 54 percent this year.

Originally published by Daily Record Staff.

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