Tellabs' third-quarter 2008 revenue totaled $424 million, down 7% from $458 million in the third quarter of 2007. Revenue from outside North America rose 21% from the year-ago quarter to $160 million. On a GAAP (U.S. generally accepted accounting principles) basis, Tellabs recorded a loss of $999 million or $2.51 per share in the third quarter of 2008, including a non-cash goodwill impairment charge of $988 million, restructuring charges for plans announced in previous quarters of $9 million, other charges totaling $11 million, and a non-cash tax charge of $6 million.
Some highlights:
- Broadband -- Third-quarter 2008 revenue from the broadband segment totaled $260 million, down 7% from $279 million in the third quarter of 2007. Within the broadband segment: data networking revenue reached a record $68 million, up 19% from $57 million in the year-ago quarter; access revenue was $113 million, down 28% from $157 million in the year-ago quarter; managed access revenue was $79 million, up 20% from $65 million in the year-ago quarter.
- Transport -- Third-quarter 2008 transport revenue totaled $109 million, down 11% from $123 million in the year-ago quarter.
- Services -- Third-quarter 2008 services revenue was $55 million, compared with $56 million in the year-ago quarter.
"Tellabs successfully executed in the third quarter, achieving record data and IP networking revenue, strong revenue outside North America and higher gross profit margins. Unfortunately, we need to further reduce our workforce and write down goodwill," said Rob Pullen, Tellabs president and chief executive officer. "Going forward, we are focusing future investments in our target solutions -- mobile backhaul, optical networking and business services. We are also increasing investment in our sales channels."
http://www.tellabs.com/
