(Updated - March 8, 2017 7:03 AM EST) (updated with management comments and guidance)

Ciena (NYSE: CIEN) reported Q1 EPS of $0.26, $0.03 worse than the analyst estimate of $0.29. Revenue for the quarter came in at $621.5 million versus the consensus estimate of $632.29 million.

"Our overall first quarter performance demonstrates our ability to grow and capture market share across geographies, market segments and product lines, reflecting the investments we\'ve made to diversify our business in these areas," said Gary B. Smith, president and CEO, Ciena. "Our strategic investments and differentiated portfolio are providing us strong momentum in the market, and as a result we believe that we are well-positioned to deliver on our fiscal 2017 financial targets."

Sees Q2 Revenue in the range of $680 to $710 million, versus the consensus of $690.72 million. Adjusted (non-GAAP) gross margin in the mid-40s percentage range. Adjusted (non-GAAP) operating expense of approximately $240 million.

For earnings history and earnings-related data on Ciena (CIEN) click here.