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TELLABS REPORTS RECORD SALES AND EARNINGS FOR 1992

 LISLE, Ill., Feb. 3 /PRNewswire/ -- Telecommunications equipment manufacturer Tellabs, Inc. (NASDAQ: TLAB) announced Wednesday record sales and earnings for both the fourth quarter of 1992 and the year ended Jan. 1.
 Sales during 1992 were $258,560,000, up 21.5 percent compared with the previous record of $212,751,000 set in 1991. Sales for the fourth quarter of 1992 were a record $87,588,000, up 29.2 percent from sales of $67,802,000 for the similar period in 1991.
 Net income for the year also set a record high for Tellabs, amounting to $16,854,000, up 154.2 percent from $6,631,000 a year earlier. Primary and fully diluted earnings per share of common stock were $1.20 in 1992, compared to 51 cents in 1991.
 For the fourth quarter of 1992, net income was a record $9,740,000, up 50 percent from $6,493,000 a year earlier. For the quarter, primary earnings per share were 69 cents and fully diluted earnings per share were 68 cents, compared to primary and fully diluted earnings per share of 47 cents for the same period in 1991.
 "1992 was a watershed year for Tellabs," said Tellabs President Michael J. Birck, "Our SONET-based TITAN(R) 5500 digital cross-connect system has proven itself in the marketplace and can now truly be considered a flagship product. In addition, we met our growth objectives for both sales and earnings.
 "We have a history of strong fourth quarter finishes, and 1992 was no exception. Sales growth during the quarter, led by the TITAN 5500 system and echo canceller products, resulted in the highest quarterly revenue and earnings for any quarter in our history, by a considerable margin," Birck continued.
 "Our focus on manufacturing productivity, together with strength in sales of higher-margin products, contributed to our seventh consecutive year of improved gross profit margin," Birck said. "In 1992, our margin was 48.7 percent, up from 47.1 percent in 1991."
 Tellabs designs, manufactures, markets and services voice and data equipment. The company's products are used internationally by telephone companies, interexchange carriers, governments and businesses. Tellabs stock is traded in the United States over-the-counter (NASDAQ) under the symbol TLAB.
 NOTE: (R) TITAN is a registered trademark of Tellabs Operations, Inc.
 TELLABS, INC. RESULTS OF OPERATIONS
 (Dollars in thousands, except per share data, unaudited)
 Three Months Ended Year ended
 01-01-93 12-27-91 01-01-93 12-27-91
 Sales $87,588 $67,802 $258,560 $212,751
 Cost of Goods Sold 44,639 34,472 132,684 112,597
 Gross Profit 42,949 33,330 125,876 100,154
 Operating Exp.
 Mktg. & G.A. 20,474 16,861 67,312 57,704
 Research & Dev. 12,244 10,501 42,465 37,181
 Subsidiary Closing -- -- -- 732
 Total Oper. Exp. 32,718 27,362 109,777 95,617
 Oper. Profit 10,231 5,968 16,099 4,537
 Interest/Other-Net 837 911 3,053 2,488
 Profit Before Tax 11,068 6,879 19,152 7,025
 Taxes 1,328 386 2,298 394
 Net Profit $ 9,740 $6,493 $16,854 $6,631
 Primary:
 Earnings Per
 Share (A) $ .69 $ .47 $1.20 $ .51
 Fully Diluted
 Earnings Per
 Share (A) $ .68 $ .47 $1.20 $ .51
 (A) The per-share calculations are based on the average number
 of shares of common stock outstanding during the respective periods
 plus any dilutive effects of common stock equivalents. For the
 quarter ended Jan. 1, 1993, the numbers of shares used for these
 calculations were 14,212,000 (primary earnings per share) and
 14,332,000 (fully diluted earnings per share). For the quarter
 ended Dec. 27, 1991, these numbers were 13,742,000 (primary earnings
 per share) and 13,875,000 (fully diluted earnings per share). For
 the year ended Jan. 1, 1993, these numbers were 14,053,000 (primary
 earnings per share) and 14,083,000 (fully diluted earnings per
 share). For the year ended Dec. 27, 1991, the number was 13,087,000
 (primary and fully diluted earnings per share).
 TELLABS, INC. CONDENSED CONSOLIDATED BALANCE SHEET
 (Dollars in thousands, unaudited)
 1992 1991
 ASSETS Year End Year End
 Current Assets
 Cash & Investments $49,351 $44,253
 Accounts Receivable,
 less Allowance 53,440 46,035
 Inventories 36,212 32,067
 Other Current Assets 5,410 5,258
 Total Current Assets 144,413 127,613
 Property, Plant and Equipment 107,832 90,245
 Less Accumulated Depreciation (51,173) (43,417)
 56,659 46,828
 Other Assets 9,676 11,523
 Total Assets $210,748 $185,964
 LIABILITIES
 Current Liabilities
 Current Maturities of
 Long Term Debt $ 353 $ 695
 Accounts Payable 17,353 13,612
 Accrued group insurance 1,429 2,923
 Accrued Liabilities 13,813 12,338
 Income Taxes 2,525 1,292
 Total Current Liabilities 35,476 30,860
 Long Term Debt, Less
 Current Maturities 3,765 3,992
 Deferred Income Taxes 3,003 5,341
 Other long-Term Liabilities 1,360 728
 Total Liabilities 43,604 40,921
 SHAREHOLDERS' EQUITY
 Common Stock, $.01 Par Value 138 67
 Additional Paid in Capital 34,373 28,263
 Cumulative Translation
 Adjustment (205) 729
 Retained Earnings 132,838 115,984
 Total Shareholders' Equity 167,144 145,043
 Total Liab & Shareholders'
 Equity $210,748 $185,964
 -0- 2/3/93
 /CONTACT: Peter A. Guglielmi, 708-512-8111, for Tellabs/
 (TLAB)


CO: Tellabs Inc. ST: Illinois IN: TLS SU: ERN

LD -- NY097 -- 2659 02/03/93 18:19 EST
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Date:Feb 3, 1993
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