Here's the news that brought it back up:
Wednesday October 1 1:47 PM EDT
Tellabs expects to meet Q3 EPS consensus
LISLE, Ill., Oct 1 (Reuter) - Tellabs Inc Wednesday said it expects to meet consensus earnings estimates when it announces results Monday.
The mean analysts' estimate calls for earnings of $0.33 a share for the voice and data transport and network access systems company, compared with $0.25 a year ago, according
to First Call.
Tellabs also said in a news release that overall component purchases rose in the third quarter, compared with a year ago and with the second quarter of 1997.
The announcement comes after Reptron Electronics Inc (REPT) said Tuesday that its distribution business was negatively impacted by a slowdown in demand from one of the
largest customers. One of its largest customers is Tellabs, an analyst said.
Tellabs said while it has lessened its reliance on one distributor, component purchases have increased.
Tellabs shares were down 1-3/8 at 50-1/8 with more than 12 million shares traded, after hitting a low of 47-1/4 Wednesday.
More news for referenced ticker symbols: REPT, TLAB, and related categories and industries: computer, telecommunications, stock capsules. |
