real-time news and commentary for investors
Wednesday, Oct 24
2012, 7:59 PM
More on Tellabs (TLAB): Q3 beats on its EPS but comes up shy on the revenue side. Total sales...
More on Tellabs (TLAB): Q3 beats on its EPS but comes up shy on the revenue side. Total sales were down 20% Y/Y, but losses narrowed as operating expenses fell 61%. The company unveiled another round of job cuts, which will affect around 200 employees (out of a total of 3,246 employees). As a result of severance costs, it will incur a Q4 restructuring charge of around $11M. It also issued downbeat Q4 guidance, now seeing revenue between $240M and $260M, below the $290M estimate projected by analysts. Shares -4.6% AH.