LISLE, Ill.-Tellabs has revised its revenue and earnings per share expectations for the first quarter of 2001.
The company now projects first-quarter sales of about $772 million, compared with earlier estimates of $830 to $865 million. The company also lowered its expected earnings from 35 to 38 cents per share to 29 cents per share.
Tellabs said the lower estimates come from “reduced and deferred spending by major communications carriers late in the quarter.”
“The health of our business depends on the health of our customers and we’re seeing caution from them in the current economic environment,” Richard C. Notebaert, president and chief executive officer, added.
