Good morning thread,
Once again we have the usual wonderful earnings from Tellabs.
In case some of you missed it, here are some highlights: Compared to to the same quarter last year,
Sales increased by 32.5%
Gross margin increased to 63.3% from the year earlier 61.4%
Gross profit increased by 36.6% -- greater than the increase in sales because of the increase in gross margins.
Operating expenses expenses increased by 38.7%, fueled largely by a 46.1% increase in Marketing and G&A expenditures. This is the only potentially negative item that I saw, and it may not be negative, depending on exactly how the cash was expended.
The result was that operating profits increased by 34.3%.
The balance sheet was significantly strengthened through a decrease in accounts receivable which now yields a DSO of 71.3 days, a modest increase in inventories which now stands at 70.7 days, or a turnover of about 5.2x.
Apparently there are still problems with the strong dollar, because the cumulative translation account decreased equity by an additional $15.249 MM
TTFN,
CTC
I will need additional data from the 10q for a more detailed look. |
