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Strategies & Market Trends : The Amateur Traders Corner -- Ignore unavailable to you. Want to Upgrade?

To: Paul Kern who wrote (8093)	4/6/2001 8:59:54 AM
From: Paul Kern	Respond to of 19633

More bad news: Lisle, Illinois, April 6 (Bloomberg) -- Tellabs Inc., a phone- equipment maker, said first-quarter earnings were less than reduced expectations as customers canceled purchases. Tellabs said it earned 29 cents, down from previous forecasts of 35 cents to 38 cents a share. The company in March cut that forecast from 39 cents. The Lisle, Illinois-based maker of equipment to manage traffic on phone networks said it had sales of $772 million. It had forecast sales of $830 million to $865 million. Dozens of suppliers of telecommunications equipment and components have cut their financial forecasts in the past months as phone companies slow capital spending. Shares fell $5.75 to $35 in early trading on Instinet.