Ciena Corporation CIEN reported better-than-expected results in third-quarter fiscal 2018 (ended Jul 31, 2018).Net IncomeOn a GAAP basis, net income for the reported quarter came in at $50.8 million or 34 cents per share compared with $60 million or 39 cents per share in the year-ago quarter. The year-over-year decrease was primarily attributable to increase in cost of goods sold.Ciena Corporation Price, Consensus and EPS Surprise Ciena Corporation Price, Consensus and EPS Surprise | Ciena Corporation QuoteNon-GAAP net income was $74.3 million or 48 cents per share compared with $56.4 million or 35 cents per share in the year-ago quarter. Notably, the bottom line beat the Zacks Consensus Estimate of 35 cents.RevenuesQuarterly total revenues increased 12.4% year over year to $818.8 million, driven by continued growth in APAC (Asia Pacific) service providers and global webscale customers. Notably, India’s quarterly revenues were up an impressive 100%.Also, the top line surpassed the Zacks Consensus Estimate of $791.72 million.Operating MetricsGross margin was 42.9% compared with 45% in the year-ago quarter. Operating expenses were $266.3 million compared with $246.1 million a year ago. Operating margin was 10.4% compared with 11.3% in the prior-year quarter.Adjusted EBITDA was $136.1 million, up from $122.8 million.Segmental PerformanceRevenues from Networking Platforms increased 14.4% year over year to $677.4 million. Software and Software-Related Services revenues were $41.2 million compared with $42.3 million in the prior-year quarter. Revenues from Global Services were $100.2 million compared with $94.1 million a year ago.Share RepurchasesDuring the quarter, Ciena repurchased approximately 1.4 million shares of common stock for an aggregate amount of $35.6 million.Cash FlowDuring the quarter, Ciena generated $88.1 million as cash from operating activities while its free cash flow amounted to $69.7 million. Cash flow for the first nine months of fiscal 2018 improved to $161.2 million from $96.3 million in the prior-year period.LiquidityAs of Jul 31, 2018, Ciena had $726.2 million of cash and cash equivalents and $586.5 million of net long-term debt.The company ended the quarter with approximately $985 million in cash and investments.Zacks Rank & Stocks to Consider Ciena currently has a Zacks Rank #3 (Hold).Some better-ranked stocks are AVX Corporation AVX, Avnet, Inc. AVT and AMETEK, Inc. AME. While AVX sports a Zacks Rank #1 (Strong Buy), Avnet and AMETEK carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.AVX surpassed estimates twice in the trailing four quarters with an average beat of 26.39%.Avnet exceeded estimates in each of the trailing four quarters with an average beat of 5.92%.AMETEK surpassed estimates in each of the trailing four quarters with an average beat of 6.42%.5 Companies Verge on Apple-Like RunDid you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.Click to see them right now >>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 AVX Corporation (AVX): Free Stock Analysis Report Avnet, Inc. (AVT): Free Stock Analysis Report Ciena Corporation (CIEN): Free Stock Analysis Report AMETEK, Inc. (AME): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research