Tellabs Earnings: Loss Narrows
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Tellabs Inc. Earnings Cheat Sheet
Results: Loss narrowed to $4 million (loss of one cent per diluted share) from $130 million (loss of 36 cents per share) in the same quarter a year earlier.
Revenue: Fell 20% to $264 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Tellabs Inc. was about in line with expectations as the mean analyst estimate was breaking even. It fell short of the average revenue estimate of $288.6 million.
Quoting Management: “As we transform Tellabs’ business model and create a path to sustained future growth and profitability, we must continue to lower costs and expenses,” said Dan Kelly, Tellabs acting CEO and president. “At the same time, we are increasing R&D investments in our next-generation products to help our customers succeed with Tellabs optical, data and access solutions.”
The company fell short of estimates last quarter after beating the mark the quarter before with net income of one cent versus a mean estimate of a loss of one cent per share.
Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the fourth quarter is one cent per share, down from 3 cents ninety days ago. Down from a loss of 2 cents per share ninety days ago, the average estimate for the fiscal year is now a loss of 4 cents.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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