Tellabs Reports $1 Billion Quarter

LISLE, Ill. -- Strength in Tellabs' core business drove record sales and earnings in the fourth quarter of 2000. Fourth-quarter 2000 sales totaled $1,018 million, up 42% from $716 million in 1999. The fourth quarter marked Tellabs' 38th consecutive quarter of year-over-year revenue growth. Full-year 2000 sales of $3.3 billion increased 43% over 1999. Fourth-quarter net income was $232 million, up 41% from $165 million a year ago, and diluted earnings per share rose to 56 cents, up 44% from 39 cents a year ago, before one-time items. Including one-time items, fourth-quarter net income was $238 million and diluted earnings per share were 57 cents.

"To keep up with robust growth in communications traffic, customers are buying more and more Tellabs equipment--fueling our record results and our first $1 billion quarter," said Richard C. Notebaert, Tellabs chief executive officer and president. "Customers are embracing the five new products we launched last year, opening new opportunities for Tellabs to grow."

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