Tellabs' Q2 revenue down but not out

Following a recent round of layoffs, it would not be hard to predict that Tellabs would have put out an even worse Q2 2009 earnings report. But while it did see an 11 percent decrease in revenue, the drop was not as bad as the financial analyst community had initially expected. According to a report in Reuters, J.P. Morgan analyst Steven O'Brien said the revenue outlook, which implied a range of $385 million to $404 million,  was "healthy" compared to his forecast of $388 million.

Tellabs reported that second-quarter revenue dropped to $385 million, down from $432 million in Q2 2008. Tellabs' net profit for the second quarter dropped to $15.7 million or 4 cents a share, from $39 million, or 10 cents a share, in Q2 2008.

Company CEO Rob Pullen, while upbeat on the company's performance as a result of an increase in customer orders, cautioned that "it's too soon to predict a recovery."

For more:
- Here's the official release
- Reuters has this article

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