Earnings reports

Tellabs Lowers Q1 Guidance

LISLE, Ill. -- Tellabs today announced revised revenue and earnings per share expectations for the first quarter of 2001. Tellabs projects first-quarter sales of about $772 million, compared with prior guidance in the range of $830 million to $865 million. The company projects earnings per share of 29 cents, compared with prior guidance of 35 cents to 38 cents. The revised guidance stems from reduced and deferred spending by major communications carriers late in the quarter. Tellabs is aggressively managing its costs and aligning its products to help carriers meet the demand for bandwidth, lower their operating costs and generate new revenue.

``The health of our business depends on the health of our customers, and we're seeing caution from them in the current economic environment," said Richard C. Notebaert, president and CEO.

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