Tellabs posts solid Q1, but issues Q2 warning

First-quarter earnings results for Tellabs could have been worse. It would not have been surprising given recent changes at the company, including the vendor's recent withdrawal from GPON activities at customer Verizon Communications. Instead, Tellabs posted a $17 million quarterly profit on about $464 million in revenue, which pretty much met analyst expectations. However, the second quarter outlook is not good. Along with the first-quarter results, Tellabs issued a revenue and profit warning for the second quarter. The company also said it would discontinue the 8865 optical line terminal it had built for Verizon's GPON deployment, but will continue to invest in and support other GPON gear.

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