Tellabs Joins the Party
For its second quarter, Tellabs reported revenues of $288 million and a net loss of $5 million, or $0.01 per share. For the same quarter a year ago, Tellabs reported revenues of $316.7 million and a GAAP net loss of $14 million, or $0.04 per share.
Non-GAAP earnings of $0.02 per share beat analysts' expectations for a break-even quarter.
Tellabs's third-quarter forecast appears disappointing, however. The company cited the economy -- particularly the European economy -- in saying third-quarter revenues would be $260 million to $290 million. Analysts were expecting $291 million.
The news didn't faze investors at first; Tellabs's stock was up $0.04 (1 percent) at $3.04 in early after-hours trading.
— Craig Matsumoto, Managing Editor, Light Reading