reported stronger-than-expected third-quarter earnings Tuesday, citing strong sales of its Titan digital optical networking products.
The telecommunications equipment company earned 47 cents a share, excluding special items, compared with 33 cents a share in the same period last year. A
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survey of 24 analysts expected the company to earn 45 cents a share.
Including gains and charges in both years, profits for the quarter ended Sept. 30 rose to $210.4 million, or 50 cents a share, from $141.2 million, or 34 cents a share, last year. Quarterly sales rose to $870.6 million, up 46.2% from last year's sales of $595.4 million.
Shares of Tellabs closed Monday at $43.50.