Tellabs Inc. (NASDAQ: TLAB)said Tuesday that its first-quarter net loss was $11 million or 3 cents per share, compared to net profit of $44 million or 11 cents per share in the last year. On a GAAP basis, the company reported a net loss of $24 million or 7 cents per share, versus a net profit of $46 million or 12 cents per share in the year-ago quarter. Revenue dropped 15% to $322 million from $379 million. Analysts, on average, expected the company to report a loss of 3 cents per share on revenue of $326.14 million.
Tellabs, Inc. designs, develops, and supports telecommunications networking products for communications service providers worldwide. The Company’s products and services enable its customers to deliver wireline and wireless voice, data and video services to business and residential customers.
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