CHICAGO-Tellabs Inc. posted its first quarterly profit in two years, raising its shares by 10 percent.
The equipment supplier had a net profit of $13 million, or 3 cents per share, compared with a loss of $42.9 million, or 10 cents per share a year ago. Sales jumped about 19 percent to $263.8 million compared with a year ago.
Excluding one-time items, Tellabs had a profit of 5 percent a share.
