Tellabs reported quarterly revenue of $264 million, up 19% from $223 million in the first quarter of 2003. Tellabs earned 3 cents per share or $13 million in the first quarter of 2004. Excluding restructuring charges of $7 million, Tellabs' non-GAAP earnings were 5 cents per share or $20 million. Tellabs said stronger revenues, improved margins and lower expenses contributed to its first profitable quarter in two years.
"Looking forward, we see continued strength in our core products while making significant progress with our broadband data products, with nearly 30 customer trials in the works worldwide," said Krish A. Prabhu, Tellabs president and CEO. Some highlights from Q1:
- Transport -- Sales of transport systems, the company's core North American products, totaled $134 million, up 28% from $105 million in Q1 2003.
- Managed Access -- Sales of managed access systems were $69 million, down 6% from $74 million in the first quarter of 2003.
- Broadband Data -- Sales of broadband data products were $4 million.
- Voice Quality Enhancement -- Revenue from voice-quality enhancement and other systems amounted to $25 million, up 186% from $9 million in Q1 2003, driven by demand for wireless as well as higher quality VoIP telephony.
- Services and Solutions -- Services and solutions revenue was $32 million, down 11% from $36 million in the first quarter of 2003, due to timing of hardware shipments.
