Ciena’s stock is down around 16 percent this morning on the earnings report for its fourth quarter, which ended Oct. 31. Although its revenue and net income beat expectations, analysts were disappointed with the revenue growth projections of 8 to 9 percent for 2016. And the recently acquired Blue Planet division from Cyan won’t contribute significant revenue in 2016.

Ciena purchased Cyan in 2015 for about $400 million, trying to strengthen its hand in software-defined networking (SDN) and network functions virtualization (NFV).

The acquisition did help boost Ciena’s fourth-quarter revenues.

“We did have a stronger quarter than expected from one of Cyan’s former customers that had an opportunity to grow its network in some places, and they wanted to get that capacity in place well before year end," said James Moylan, Ciena’s CFO, on today's conference call with analysts. "We worked our supply chain hard to satisfy that customer.”

However, Ciena CEO Gary Smith, said, “We’ve made it clear we believe Blue Planet will not be a significant revenue driver in 2016. We view 2016 as a foundational year for Blue Planet.”

Smith said since the Cyan acquisition, Blue Planet has added two Tier 1 customers — one international and one North American — bringing the total number of Blue Planet customers to eight. He said the platform’s new microservice architecture aligns with industry momentum around Docker containers.

“Longer term, we see Blue Planet as driving revenue and gross margin,” said Smith.

"Our checks suggest Blue Planet multivendor orchestration software will be deployed as part of AT&T vCPE solution in 2016," said Catharine Trebnick, an analyst with Dougherty & Company, in a research note before the earnings call.

For its fourth quarter, Ciena reported revenue of $692 million as compared to $591 million for the same quarter in 2014. For fiscal year 2015, Ciena reported revenue of $2.4 billion, as compared to $2.3 billion for fiscal year 2014.

Ciena's non-GAAP net income for the fiscal fourth quarter 2015 was 42 cents per share, compared to a net loss of 8 cents per share for the fiscal fourth quarter 2014. For fiscal year 2015 net income was $1.31 per common share, compared to 59 cents per share for fiscal year 2014.