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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Tellabs, Inc. (MM) | NASDAQ:TLAB | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.44 | 0 | 01:00:00 |
Tellabs Inc.'s (TLAB) second-quarter earnings more than quadrupled, and adjusted results topped analysts' forecasts, as the company benefited from higher revenue and margins.
The telecommunications-equipment maker also forecast current-quarter revenue of $425 million to $435 million. Analysts surveyed by Thomson Reuters expected $416 million on average.
Tellabs has seen its results improve of late, helped by rising revenue from both its products and services. The company has focused on growth products and innovating in growth markets, such as mobile Internet. Growth products make up more than half of Tellabs's revenue.
It reported a profit of $64.1 million, or 16 cents a share, up from $15.7 million, or 4 cents, a year earlier. Excluding items such as stock-compensation expenses, earnings rose to 17 cents from 8 cents. Analysts most recently forecast 13 cents.
Revenue jumped 9.7% to $422.7 million from a year earlier and from $379.7 million in the prior quarter. In April, the company had forecast 10% to 12% sequential growth.
Gross margin rose to 53.5% from 43.5%.
Revenue in the company's broadband segment, its biggest, increased 8.8% while profit jumped 50%. Its transport segment saw revenue rise 12% while profit nearly doubled.
Shares closed at $7.79 Monday and were inactive premarket. The stock has risen 37% so far this year.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com
1 Year Tellabs, Inc. (MM) Chart |
1 Month Tellabs, Inc. (MM) Chart |
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