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Related Topics Tech » Media » Tue Feb 21, 2012 10:57am EST (Reuters) - Ciena Corp slashed its first-quarter sales expectations, hurt by delays in recognizing revenue as its customers take time to close deals, sending the network gear maker's shares down as much as 7 percent. In December, Ciena, which competes with Juniper Networks, Alcatel-Lucent and Infinera, had forecast first-quarter revenue largely below estimates, but assured investors that the impact from the Thailand floods would be minimal. "We continue to experience longer customer deployment and revenue recognition cycles as a result of our greater mix of international and solutions-oriented sales," Chief Executive Gary Smith said in a statement. This trend had a more significant effect than previously anticipated, and resulted in revenue recognition delays on a few solutions-oriented projects with new customers, especially in international markets, he added. The company, which counts AT&T and Verizon among its top customers, now expects revenue of about $415 million, compared with its prior outlook of $435 million to $455 million. Analysts were looking for revenue of $447.8 million, according to Thomson Reuters I/B/E/S -- a revision from the $454.3 million that they had expected when the company provided its first-quarter outlook in December. Shares of the company fell to $15.83 in early morning trade on the Nasdaq, but recouped some losses to trade at $16.13. The stock has gained 72 percent in value since its year low on October 4, excluding Tuesday's losses. (Reporting by Sayantani Ghosh in Bangalore; Editing by Supriya Kurane) Tech Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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