More Q2 financial news …
Tellabs reported a loss of $174 million, or 43 cents a share, including restructuring and other charges of $262 million. The company showed a gain of $157.1 million, or 38 cents a share, a year ago.
Revenue fell to $516 million — still higher than last month's projected $500 million, but lower than the $801 million of a year ago.
Its optical networking sales fell from $528 million in second-quarter 2000 to $221 million, and broadband access sales fell from a year ago's $158 million to $148 million in second-quarter 2000.
The company said it would not offer guidance on its third quarter and 2001 results.
Level 3 Communications Inc. showed a net loss of $731 million, or $1.99 per basic and diluted share, including a one-time, $136 million charge. A year ago, the company had a net loss of $281 million, or 77 cents a share.
Communications revenue was $331 million for the quarter — up from $153 million a year ago. The company credits new customer contracts and present customer growth. The amount includes $230 million in communications services revenue, $61 million in nonrecurring revenue from dark fiber sales and $40 million in reciprocal compensation, Level 3 says.
The company says it's lit 96 percent of its North American intercity network, consisting of eight rings.