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Tellabs' third-quarter 2009 revenue totaled $389 million, compared with $424 million in the third quarter of 2008. Almost half of overall revenue came from growth products, including the Tellabs 6300, 7100, 7300, 8600 and 8800 systems and professional services.

Tellabs earned $29 million or 7 cents per share on a GAAP (U.S. generally accepted accounting principles) basis, compared with a loss of $999 million or $2.51 per share in the year-ago quarter, which included a non-cash goodwill charge of $988 million.

On a non-GAAP basis, Tellabs earned $28 million or 7 cents per share, up 51% from $19 million or 5 cents per share in the year-ago quarter. The current quarter's non-GAAP results exclude pretax charges of $11 million, which includes $4.5 million or 0.8 cents per share for equity-based compensation.

GAAP gross profit margin was 41.7% in the third quarter of 2009, compared with 38.2% in the year-ago quarter. The company generated $66 million in cash from operations and added $12 million to its cash, cash equivalents and marketable securities, which rose to more than $1.25 billion. During the quarter, Tellabs repurchased approximately 9.5 million shares at a cost of $62 million under previously announced share repurchase programs.

"As we innovate to help our customers and company succeed, Tellabs continues to increase gross profit margins and generate cash," said Rob Pullen, Tellabs president and chief executive officer. "Tellabs' recently announced acquisition of WiChorus will bring customers breakthrough technology for the mobile Internet, logically extend our mobile business into an adjacent high-growth market and help ensure Tellabs' future growth."

For the third quarter of 2009, Broadband segment revenue was $206 million, Transport segment revenue was $128 million and Services segment revenue was $55 million.

More detailed information, including non-GAAP reconciliation tables and year-over-year segment comparisons, can be found in the Results of Operations section of this news release. The full text of the news release is available at www.tellabs.com/news/2009/3q09.pdf

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