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Ciena Corp. reported a $1.16 billion profit — mainly due to a big tax benefit related a change in the company's accounting methods — but saw its stock fall after missing analyst estimates.
The Hanover-based computer networking company posted earnings of $7.32 per share in its fourth quarter ending Oct. 31. In the year-ago quarter, Ciena had earnings of 25 cents per share. However, the company's results were boosted by a $1.13 billion tax benefit.
On an adjusted basis under Ciena's old accounting…
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