Rochester, NY 7/28/2009 7:51:32 PM
TLAB - TLAB Shares Details 60% drop in Second Quarter Earnings
Tellabs, Inc.
Tellabs, Inc., TLAB
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Tellabs Inc. said its second-quarter net income fell by more than half as sales dropped 11% and the company booked large one-time operating cost. The telecommunications gear provider said its profit totaled $15.7 million, or 4 cents per share, down 60% from $39 million, or 10 cents per share, in the year-ago quarter.
Without one-time charges in the latest quarter, Tellabs earned $33 million, or 8 cents per share. The 2008 quarter included special items such as a tax benefit of 9 cents per share.
The Analysts polled by Thomson Reuters, who typically eliminate special items, expected profit of 6 cents per share. Sales fell 11% to $385.4 million. Analysts expected $381.3 million.
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