Ciena Corporation CIEN reported healthy fourth-quarter fiscal 2018 (ended Oct 31, 2018) results wherein both the top line and the bottom line surpassed the respective Zacks Consensus Estimate.Net IncomeOn a GAAP basis, net income for the reported quarter was $64 million or 34 cents per share compared with $1,160.1 million or $7.32 per share in the year-ago quarter. The year-over-year decrease was primarily due to higher cost of goods sold and lower benefit from income tax. For fiscal 2018, net loss was $344.7 million or loss of $2.49 per share against income of $1,262 million or $7.53 per share a year ago, mainly due to higher income tax expenses.Non-GAAP net income came in at $81 million or 53 cents per share compared with $48.5 million or 32 cents per share in the year-ago quarter. The bottom line beat the Zacks Consensus Estimate by 4 cents.Ciena Corporation Price, Consensus and EPS Surprise Ciena Corporation Price, Consensus and EPS Surprise | Ciena Corporation QuoteRevenuesQuarterly total revenues increased 20.8% year over year to $899.4 million, primarily due to higher product sales. The top line surpassed the Zacks Consensus Estimate of $861 million. Fiscal 2018 revenues increased 10.4% year over year to $3,094.3 million.Geographically, revenues from North America were $555.3 million, up 26.1% year over year. Revenues from Europe, Middle East and Africa were $123.1 million, up 11.2%. In Caribbean and Latin America revenues totaled $53 million, up 21.8% and in Asia Pacific revenues were $168 million, up 12.2%.Other Quarter DetailsGross margin was 44.3% compared with 43.7% in the year-ago quarter. Operating expenses were $302.2 million compared with $269.9 million a year ago. Operating margin was 10.7% compared with 7.5% in the prior-year quarter. Adjusted EBITDA was $145.8 million, up from $109.7 million.Segmental PerformanceRevenues from Networking Platforms increased 19% year over year to $712.9 million. Software and Software-Related Services revenues were $67.3 million compared with $41.8 million in the prior-year quarter. Revenues from Global Services were $119.2 million compared with $103.7 million a year ago.Share RepurchasesDuring the quarter, Ciena repurchased approximately 1.3 million shares for an aggregate amount of $36.2 million. During fiscal 2018, the company repurchased approximately 4.3 million shares at an average price of $25.86 per share for an aggregate amount of $111 million.Cash FlowIn fiscal 2018, Ciena generated $229.3 million of cash from operating activities compared with $234.9 million in fiscal 2017.LiquidityAs of Oct 31, 2018, Ciena had $745.4 million of cash and cash equivalents and $686.5 million of net long-term debt.Zacks Rank & Other Stocks to ConsiderCiena currently carries a Zacks Rank #2 (Buy). Other top-ranked stocks in the broader industry include QUALCOMM Incorporated QCOM, Ubiquiti Networks, Inc. UBNT and Juniper Networks, Inc. JNPR. While Qualcomm and Ubiquiti sport a Zacks Rank #1 (Strong Buy), Juniper carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here. Qualcomm has a long-term earnings growth expectation of 11.5%. It beat earnings estimates in each of the trailing four quarters, the average being 18.5%.Ubiquiti has a long-term earnings growth expectation of 14%. It surpassed earnings estimates in three of the trailing four quarters, the average positive surprise being 11.3%.Juniper has a long-term earnings growth expectation of 5.5%. It beat earnings estimates in each of the trailing four quarters, the average being 11%. The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Juniper Networks, Inc. (JNPR): Free Stock Analysis Report Ubiquiti Networks, Inc. (UBNT): Free Stock Analysis Report QUALCOMM Incorporated (QCOM): Free Stock Analysis Report Ciena Corporation (CIEN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research