Revenue of $304M was up 30% from Q2 of last year; net income was $50M, or $0.12 per share

July 21, 2004

2 Min Read

NAPERVILLE, Ill. -- Tellabs (Nasdaq: TLAB) today reported second-quarter 2004 revenue of $304 million, up 30% from $234 million in the second quarter of 2003. On a GAAP basis, Tellabs earned 12 cents per share or $50 million in the second quarter of 2004. Excluding net restructuring and other charges of one cent per share or $3.5 million, Tellabs' earnings were 13 cents per share or $53 million.

"Continuing strong demand for our products, combined with the benefits of restructuring and expense control, are driving growth and profitability at Tellabs," said Krish A. Prabhu, Tellabs president and chief executive officer. "We are making solid progress in new product development and customer fulfillment, which will strengthen Tellabs' position as a strategic, global supplier leading the industry shift to broadband."

Transport -- Revenue from transport systems, the company's core products, totaled $161 million, up 74% from $93 million in the second quarter of 2003, primarily driven by strong wireless demand.

Managed Access -- Revenue from managed access systems was $76 million, down 10% from $85 million in the second quarter of 2003, primarily a result of lower sales of circuit-based cable telephony.

Broadband Data -- Revenue of broadband data products was $2 million. The company recently introduced the Tellabs(R) 8600 managed edge system, which shipped to its first customer this month.

Voice Quality Enhancement -- Revenue from voice-quality enhancement and other systems amounted to $24 million, up 36% from $18 million in the second quarter of 2003.

Services and Solutions -- Services and solutions revenue was $41 million, up 4% from $39 million in the second quarter of 2003.

On a GAAP basis, operating expenses were $120 million in the quarter, including a restructuring credit of $2 million.

Tellabs Inc.

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