( TLAB) surged 6% after the telecom gearmaker posted a strong first quarter, citing broad-based demand gains.
For the quarter ended last month, the Naperville, Ill., company earned $700,000, or less than a penny a share, down from the year-ago $13.4 million, or 3 cents a share. Revenue rose 65% from a year ago to $436 million.
Excluding certain costs, latest-quarter earnings were 6 cents a share. Those results blew past Wall Street's estimates, which had called for a 2-cent pro forma profit on sales of $408 million.
"Broad-based demand for our products propelled Tellabs' first-quarter revenue growth," said CEO Krish A. Prabhu. "These results reflect our progress in successfully integrating the recently acquired companies, AFC and Vinci Systems."
Transport revenue rose 16% from a year ago to $158 million, while managed access systems revenue jumped 34% to $93 million.
Early Wednesday, Tellabs added 44 cents to $7.50.