NAPERVILLE, Ill. -- Tellabs’ third quarter 2012 revenue totaled $264 million, compared with $330 million in the year-ago quarter.

On a GAAP basis, Tellabs recorded a net loss of $4 million or 1 cent per share in the third quarter of 2012, compared with a net loss of $130 million or 36 cents per share in the third quarter of 2011. Thirdquarter 2011 results included impairment charges for goodwill and other intangible assets of $102.7 million. Tellabs’ GAAP gross profit margin was 39.2% in the third quarter of 2012, down from 41.3% in the year-ago quarter.

On a non-GAAP basis, Tellabs recorded net earnings of $6 million or 2 cents per share in the third quarter of 2012, compared with net earnings of $3 million or 1 cent per share in the year-ago quarter.

Non-GAAP results for the third quarter of 2012 exclude pretax charges of $9.8 million, including $5.4 million in equity-based compensation expense, $3.3 million in restructuring and other charges and $1.1 million in intangible asset amortization.

For the third quarter of 2012, Optical segment revenue was $108 million, Data segment revenue was $66 million, Access segment revenue was $42 million and Services segment revenue was $48 million.

Fourth Quarter Restructuring -- Starting in the fourth quarter of 2012 and continuing through the fourth quarter of 2013, Tellabs will restructure the business to lower its cost of goods sold and reduce sales, general and administrative expenses by about $20 million annually. The restructuring will affect about 200 employees. Tellabs expects to take a restructuring charge of about $11 million in the fourth quarter of 2012, consisting principally of severance and related costs.

“As we transform Tellabs’ business model and create a path to sustained future growth and profitability, we must continue to lower costs and expenses,” said Dan Kelly, Tellabs acting CEO and president. “At the same time, we are increasing R&D investments in our next-generation products to help our customers succeed with Tellabs optical, data and access solutions.”

Fourth-Quarter 2012 Guidance -- The following statements are forward-looking statements that are based on current expectations and involve risks and uncertainties, some of which are set forth below.

Due to the challenging economic and industry environment, we expect fourth-quarter 2012 revenue to be $240 million to $260 million. We expect non-GAAP gross margin to be 40%, plus or minus a point or two, depending on product mix. We expect fourth-quarter non-GAAP operating expense to be about $10 million higher than in the third quarter of 2012. Tellabs’ fourth-quarter non-GAAP gross margin excludes approximately $1 million, and non-GAAP operating expense excludes approximately $3 million, in equitybased compensation expense. We expect a fourth-quarter non-GAAP tax rate of about 32%.

Cash Dividend -- The Tellabs Board of Directors has declared a cash dividend of 2 cents per share. The cash dividend is payable on November 30 to stockholders of record as of the close of business on November 16.

Tellabs Inc.