"The Tellabs Titan is the absolute best digital cross connect on the market and the last time I looked sales had broken a record and sales growth percentages were at an all time high."
DenverTechie,
Great analysis you did of TLAB back over two months ago. As you may recall, you were commenting on rumours I was reading about TITAN product sales slowing and other misc. rumours involving TLAB. It's interesting to go back and read our comments around the post I linked to for this response. These Q3 numbers may put a lot of those rumours to rest, but I doubt it. :)
Thanks,
MikeM(From Florida)
PS I'll listen to the CC and post a quick summary. I hope it's upbeat. I'm sure the street will be picking it apart looking for something negative.
_____________________________
Tellabs Reports Best Quarter in Company History
Sales and Operating Earnings Set Record Levels
LISLE, Ill., Oct. 15 /PRNewswire/ -- Telecommunications equipment manufacturer Tellabs, Inc. TLAB , announced Thursday record sales and earnings for the third quarter of 1998.
Sales for the third quarter, ended October 2, were $423,548,000, the highest for any quarter in the company's history and up 36.9 percent from sales of $309,408,000 in the third quarter of 1997. This marks the 29th consecutive quarter in which Tellabs' sales surpassed prior-year levels. Sales for the first nine months of 1998 were $1,138,769,000, up 34.1 percent from sales of $849,232,000 a year earlier.
Net income for the third quarter was $87,763,000, up 36.5 percent from net income of $64,307,000 a year earlier. Included in 1998 operating results is a pre-tax charge of approximately $12,991,000 taken in connection with the merger with Coherent Communications Systems Corporation that was completed on August 3 and the terminated merger with CIENA Corporation. Excluding the effect of the charge, net income for the third quarter of 1998 was 50.1 percent greater than the level recorded in the comparable period of 1997.
"Third quarter results, again driven primarily by Tellabs' flagship products, were strong," said Tellabs President and CEO Michael J. Birck. "Sales of the SONET-based TITAN(R) 5500 digital cross connect system were up 34 percent compared with the year-earlier quarter. MartisDXX(TM) sales were up about 29 percent. Echo canceller sales increased 153%, reflecting strong sales of Tellabs' products plus the addition of Coherent's echo canceller products."
Beginning at approximately 9:30 a.m., Chicago time, Friday, 10/16/98, interested investors will be able to listen to a pre-recorded replay of Tellabs' analyst teleconference. This replay will be available for 48 hours. To listen to the pre-recorded teleconference: Call toll-free 1-800-633-8284. When prompted, enter the Tellabs reservation number 1627780. |
