Tellabs reports higher Q4 net loss, provides outlook for Q1
Feb 05, 2013 (Datamonitor via COMTEX) --
Tellabs, Inc, a provider of wireline and wireless voice, data and video services, has reported that net loss for the fourth quarter ended December 28, 2012 was $23.3 million, or $0.06 loss per share, compared to a net loss of $4.9 million, or $0.01 loss per share, for the same quarter ended December 30, 2011. The company expects revenue to be in the range of $205 million to $220 million for the first quarter of 2013.
Total revenue for the fourth quarter ended December 28, 2012 was $242.2 million, compared to $316.8 million for the same quarter ended December 30, 2011.
Net loss for the year ended December 28, 2012 was $171.7 million, or $0.47 loss per share, compared to a net loss of $188.4 million, or $0.52 loss per share, for the year ended December 30, 2011.
Total revenue for the year ended December 28, 2012 was $1.05 billion, compared to $1.28 billion for the year ended December 30, 2011.
"Over the last quarter, Tellabs initiated a review of its strategy, product portfolio and cost structure," said Dan Kelly, Tellabs CEO and president. "Based upon our analysis of ROI, customer needs and market conditions, we are discontinuing development of the Tellabs 9200. We will reduce our expenses, which will affect about 300 people during 2013.
"Going forward, we will enhance Tellabs' solutions with innovations to help our customers succeed. We will demonstrate new software-defined networking (SDN) and self-optimizing networks (SON) capabilities at Mobile World Congress in February."
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