LISLE, Ill.-Tellabs Inc., a telecommunications equipment manufacturer, reported it achieved record sales and income during the third quarter ended Sept. 26.
Total sales for the third quarter reached $309.4 million, 32 percent more than sales of $234.3 million for third quarter 1996. Sales for the first nine months totaled $849.2 million, 42.5 percent more than sales of $596.1 million for the first three quarters of last year.
Net income for the quarter was up 39 percent to $64.3 million, or 34 cents per share, compared with net income of $46.1 million, or 25 cents per share, for third quarter 1996. Net income for the first nine months totaled $186.2 million, or $1 per share, a 218 percent increase from net income of $58.6 million, or 32 cents per share, for the corresponding period last year. Net income for the first three quarters of 1997 included a pre-tax gain of $20.8 million on the sale of stock held as an investment, and net income for the same period during 1996 included a write-off for research and development of $54.1 million.
