Thursday, April 25, 2013

Tellabs Posts Revenue of $209M, Loss of $56M

Tellabs reported Q1 2013 revenue of $209 million, compared with $258 million in the year-ago quarter. There was a GAAP net loss of $56 million or 16 cents per share in the first quarter of 2013, compared with a net loss of $140 million or 38 cents per share in the first quarter of 2012.

Tellabs holds cash and marketable securities of $572 million as of March 29, 2013, thanks in part to the repatriation of approximately $375 million of cash held by non- U.S. subsidiaries during the first quarter of 2013. During Q1, Tellabs repurchased 12 million shares for $26 million under its previously announced stock repurchase plan.

For Q1, Optical segment revenue was $93 million, Data segment revenue was $33 million, Access segment revenue was $39 million and Services segment revenue was $44 million.

"We’re working to revitalize Tellabs’ performance with a focus on customers, strategy and results," said Dan Kelly, Tellabs CEO and president. "Going forward, we’re working on what customers need to succeed with our optical and mobile solutions."