Tellabs sees $80M Q4 loss, cash flow holds steady
Tellabs lost $80 million on fourth-quarter sales of $470 million, but the company maintained a positive operating cash flow throughout the year, it says. The company also saw a $182 million loss on $2.2 billion in sales in 2001.
Fourth-quarter sales fell to $470 million from the $1.2 billion it recorded a year ago, and Tellabs reports an $80 million loss, or 20 cents a share, compared with a $295 million profit, or 72 cents a share, a year ago. Tellabs says it took $137 million in severance, inventory and other asset related charges during the quarter.
Optical networking sales accounted for 7 percent of total company revenue in the quarter and largely salvaged its sales numbers, the company noted. For the full year, optical networking systems were up 15 percent, an increase prompted by strong spending among ILECs.
Its broadband access sales reached $115 million for the year, "reflecting continued weakness outside the United States in managed access services, which was offset somewhat by strength in Tellabs' Cablespan systems sales," it says.
The company maintained positive cash flow throughout the year, generating about $110 million in cash from operations during the fourth quarter.