Tellabs Earnings: Investors Like the PROGRESS
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Tellabs Inc. Earnings Cheat Sheet
Results: Loss narrowed to $4.7 million (loss of one cent per diluted share) from $29.3 million (loss of 8 cents per share) in the same quarter a year earlier.
Revenue: Fell 9% to $288.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Tellabs Inc. fell in line with the mean analyst estimate of a loss of one cent per share. Analysts were expecting revenue of $288.6 million.
Quoting Management: “In the second quarter, Tellabs grew revenue sequentially by 12%, generated $32 million in cash from operations, and improved margins and profitability,” said Dan Kelly, Tellabs acting CEO and president.
The company fell in line with estimates last quarter after missing forecasts in the previous quarter with a loss of -5 cents versus a mean estimate of a loss of 3 cents per share.
Looking Forward: The average estimate for the third quarter remains unchanged at one cent a share. Down from a loss of one cent per share ninety days ago, the average estimate for the fiscal year is now a loss of 2 cents.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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