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Tellabs shares fall on sales forecast
By Sandra Guy
Chicago Sun Times
Tuesday, April 22, 2008

Tellabs' shares fell the most in nearly two years Tuesday after the Naperville-based manufacturer of wireless phone equipment forecast second-quarter sales that may fall below analysts' expectations.

The company forecast the sales at $425 million to $445 million, compared with $534.5 million in the year-earlier quarter. Analysts have forecast sales of $472.3 million.

Tellabs' stock fell 75 cents, or 12 percent, to $5.27 this morning.

CEO Rob Pullen said slowing orders from wireless phone carriers and the weak economy have hurt sales.

Tellabs' net income dropped to $16.6 million, or 4 cents a share, from the year-ago quarter's $25.5 million, or 6 cents a share.  Revenue increased 2.7 percent, to $464 million.

http://www.suntimes.com/business/907894,tellabs042208.article