CHICAGO-Tellabs Inc. reported a third-quarter loss of $64.8 million, or 16 cents a share, better than a year ago when it posted a quarterly loss of $91.1 million, or 22 cents a share.
The company said its sales fell 15 percent to $244.5 million from last year, but rose 5 percent from the second quarter.
The company had announced earlier it would cut 370 jobs, or 10 percent of its workforce, and shut down its research and development center in Canada.
This is the seventh round of layoffs during the past two years, reflecting soft spending in the infrastructure arena by operators.
