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Technology Stocks : TLAB info? -- Ignore unavailable to you. Want to Upgrade?

To: Chuzzlewit who wrote (4097)	10/15/1998 11:13:00 PM
From: Muhney	Read Replies (2) \| Respond to of 7342

Sorry, I guess I was not making myself clear. My contention was that TLAB issued .72 shares of stock to coherent shareholders for every share of coherent. Therefore normal TLAB earnings would be diluted because of the additional TLAB stock that was issued to complete merger. To accurately compute TLAB's earnings vs. the "old TLAB"...you would have to back out the shares that they issued to acquire coherent. I don't have the numbers here at home, but if you do the calculation TLAB's earnings increased some 28% over 1997 without coherent. Hopefully I stated that more clearly this time...it has been a long day. Muhney

To: Chuzzlewit who wrote (4097)	10/16/1998 1:58:00 AM
From: Jerryco	Respond to of 7342

Tellabs 3rd-Quarter Earnings Rise 51 Percent on Record Sales Linthicum, Maryland, Oct. 15 (Bloomberg) -- Tellabs Inc. said third-quarter profit rose 51 percent, beating expectations, on record sales of its equipment used to direct traffic on phone networks. Profit before charges rose to about $97 million, or 49 cents a share, from $64.3 million, or 34 cents, a year earlier. That beat the diminished 46-cent average estimate of analysts polled by First Call Corp. Tellabs last month warned profit for the third quarter would be little changed from the previous quarter, below expectations of 47 cents a share, because it was too slow in meeting customer demand for its products. Sales rose 37 percent to a record $423.5 million from $309.4 million in the year-earlier period. ''This was a great quarter,'' said Steven Levy, an analyst at Lehman Brothers Inc., who rates Tellabs a ''strong buy.'' ''I would never have guessed this kind of revenue.'' The company said the quarterly results were the best ever. ''We sold more and earned more than any quarter before,'' said Tom Scottino, a company spokesman. Tellabs shares rose as much as 2 to 40 3/4 in trading after the close of the Nasdaq stock market. A month ago, Tellabs ended its plan to acquire Ciena Corp., the top maker of equipment that boosts capacity on phone networks. In June, Tellabs offered to buy Ciena for $7.1 billion, or $65.88 a share, before Ciena warned of lower third-quarter earnings and failed to get two contracts, sending its stock down 70 percent. Tellabs, which has strong relationships with the Baby Bell local companies, It needs new technology to give its products more features, analysts said. Phone companies are looking for suppliers like Lucent that can offer a full range of services. After a charge of about $9 million, or 4 cents a share, for costs related to its acquisition of Coherent Communications Systems Corp. and the failed Ciena purchase, Tellabs had net income of $87.8 million, or 45 cents. There were no one-time items in the year-earlier period. ------------------------------------------------------------------------ © Copyright 1998, Bloomberg L.P. All Rights Reserved.