Tellabs reported Q3 revenue of $284 million, up 16% from $245 million in the third quarter of 2003. On a GAAP basis, Tellabs earned 11 cents per share or $46 million in the third quarter of 2004, compared with a loss of $65 million or 16 cents per share in the third quarter of 2003. Tellabs’ third-quarter earnings of 11 cents per share included a tax benefit of 2 cents from an IRS settlement. Some highlights:
- Transport — Revenue from transport systems totaled $138 million, up 31% from $105 million in the third quarter of 2003, primarily driven by wireless demand.
- Managed Access — Revenue from managed access systems was $73 million, down 10% from $81 million in the third quarter of 2003, primarily due to short-term issues in the relocation of international outsourced manufacturing to a lower-cost location.
- Broadband Data — Revenue of broadband data products was $8 million, double $4 million in the third quarter of 2003.
- Voice Quality Enhancement — Revenue from voice-quality enhancement and other systems amounted to $20 million, up 29% from $16 million in the third quarter of 2003.
- Services and Solutions — Services and solutions revenue was $45 million, up 15% from $39 million in the third quarter of 2003.
Tellabs said it hopes to close its pending acquisition of AFC during Q4. http://www.tellabs.com