Advertisement
News
Advertisement

Tellabs swings to big profit

Fri, 01/27/2006 - 5:28am

Copyright 2006 TheStreet.com, Inc. 
TheStreet.com
January 26, 2006 Thursday 4:40 PM Eastern Time
By TSC Staff
From LexisNexis
 
Tellabs (TLAB:Nasdaq) swung to a better-than-expected fourth-quarter profit as demand remained brisk for broadband wireless products.

The company earned $92.1 million, or 20 cents a share, in the quarter, compared with a loss of $138.7 million, or 32 cents a share, a year ago. Excluding a charge, Tellabs earned $100 million, or 22 cents a share, in the quarter, beating estimates by a nickel.

Fourth-quarter revenue rose 37% from a year ago to $521 million. Analysts were expecting $495.9 million, according to Thomson First Call.

Among segments, fourth-quarter sales rose 8% from last year to $170 million in Tellabs' data transport business, while sales more than tripled to $180 million in access solutions. Broadband data sales were $31 million, up from $3 million, while revenue from managed access fell 19% from last year, to $91 million.

"Customer demand for broadband wireless and fiber access continues to propel Tellabs' growth," the company said. "Tellabs is well-positioned to grow as our customers invest in upgrading their network infrastructure to handle the proliferation of broadband devices and multimedia Internet content."

The stock closed at $10.51 Thursday.

Topics

Advertisement

Share This Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading