Tellabs Q2 revenue at $212 mn

Tellabs’ second quarter 2013 revenue totaled $212 million, compared with $288 million in the year-ago quarter.

For the second quarter of 2013, Optical segment revenue was $113 million, Data segment revenue was $36 million, Access segment revenue was $19 million and Services segment revenue was $44 million.

On a GAAP basis, Tellabs recorded a net loss of $8 million or 2 cents per share in the second quarter of 2013, compared with a net loss of $5 million or 1 cent per share in the second quarter of 2012.

On a non-GAAP basis, Tellabs recorded a net loss of $1 million or zero per share in the second quarter of 2013, compared with net earnings of $6 million or 2 cents per share in the year-ago quarter.

Tellabs holds cash and marketable securities of $542 million as of June 28, 2013. During the second quarter of 2013, the company repurchased 2.3 million shares for $4.6 million under its previously announced stock repurchase plan.

Tellabs’ GAAP gross profit margin was 37.8 percent in the second quarter of 2013, compared with 39.6 percent in the year-ago quarter. On a non-GAAP basis, Tellabs gross profit margin was 38 percent in the second quarter of 2013, compared with 39.9 percent in the year-ago quarter.

“We made good progress in the second quarter, compared with the first quarter, as revenue and gross profit margins improved,” said Dan Kelly, CEO and president, Tellabs.

We are encouraged by this progress as we work to revitalize Tellabs with a focus on customers, strategy and results added Kelly.

The third quarter revenue guidance is expected to be in the range from $200-$220 million. The company expect non-GAAP gross margin to be 37 percent, plus or minus a point or two. The company expect third-quarter non-GAAP operating expense to be in the mid-$70-million range.

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