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TELLABS REPORTS RECORD SALES FOR SECOND QUARTER AND FIRST SIX MONTHS

 TELLABS REPORTS RECORD SALES FOR SECOND QUARTER AND FIRST SIX MONTHS
 LISLE, Ill., July 15 /PRNewswire/ -- Telecommunications equipment manufacturer Tellabs Inc. (NASDAQ: TLAB) announced record sales for both the second quarter and the first half of 1992.
 Sales for the second quarter ended June 26 were $55,755,000, up 19.1 percent over sales of $46,823,000 for the similar period in 1991. Sales for the first six months of the year were $112,216,000, up 21.4 percent compared to sales of $92,457,000 a year earlier.
 Net income for the second quarter was $1,972,000, compared to a net loss of $1,715,000 a year earlier, when earnings were adversely affected by a $4,148,000 revenue reversal and a $732,000 one-time charge. For the first six months, net income was $5,412,000, compared to a net loss of $2,683,000 a year earlier. Primary earnings per share of common stock for the second quarter of 1992 were 14 cents, compared to a loss of 14 cents per share a year earlier.
 "Sales for the second quarter and the first half of the year were fueled by strong demand for voice-frequency products and echo cancelers," said Tellabs President Michael J. Birck. "The SONET based TITAN (see note) 5500 digital cross-connect system continued to generate meaningful revenue during the second quarter, as it has since the third quarter of last year. On the other hand, sales of data communication products were somewhat weaker than last year's level."
 During the quarter, Tellabs broke ground for a 236,000-square-foot manufacturing and research and development facility in Bolingbrook, Ill., about 10 miles south of its Lisle headquarters. Completion of this facility is scheduled for the summer of 1993. This is the first of three phases that eventually will provide more than 700,000 square feet of manufacturing, office and laboratory space.
 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 of TLAB.
 (NOTE: TITAN is a registered trademark of Tellabs Operations Inc.)
 TELLABS, INC.
 RESULTS OF OPERATIONS
 (Dollars in thousands, except per share data)
 Three Months Ended Six Months Ended
 6/26/92 6/28/91 6/26/92 6/28/91
 Sales $55,755 $46,823 $112,216 $92,457
 Costs of Goods Sold 28,953 26,182 57,853 51,228
 Gross Profit 26,802 20,641 54,363 41,229
 Operating Expense
 Mktg. & G.A. 15,281 13,294 30,681 26,959
 Research & Dev. 9,941 9,130 19,502 17,764
 Subsidiary
 closing --- 732 --- 732
 Total Oper. Exp. 25,222 23,156 50,183 45,455
 Oper.Profit (Loss) 1,580 (2,515) 4,180 (4,226)
 Interest/Other-Net 474 306 1,970 673
 Profit (Loss) Before
 tax 2,054 (2,209) 6,150 (3,553)
 Taxes (Benefit) 82 (494) 738 (870)
 Net Profit (loss) $ 1,972 $(1,715) $ 5,412 $(2,683)
 Primary Earnings (Loss)
 per share (A) $ .14 $ (.14) $ .38 $(.21)
 (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
 quarters ended June 26, 1992, and June, 28, 1991, the number of
 shares used for these calculations were 14,167,000 and 12,986,000,
 respectively. For the first six months of 1992 and 1991, these
 numbers were 14,125,000 and 12,986,000 respectively.
 TELLABS, INC.
 CONDENSED CONSOLIDATED BALANCE SHEET
 (Dollars in thousands)
 1992 1992 1991
 2ND QTR 1ST QTR YEAR END
 ASSETS
 Current Assets
 Cash & Investments $53,532 $52,223 $44,253
 Accounts Receivable,
 less Allowance 36,898 $39,655 $46,035
 Inventories 34,038 33,528 32,067
 Other Current Assets 7,371 6,069 5,258
 Total Current Assets 131,839 131,475 127,613
 Property, Plant and Equipment 94,935 91,948 90,245
 Less accumulated
 depreciation (47,116) (45,209) (43,417)
 Total 47,819 46,739 46,828
 Other Assets 9,430 10,092 11,523
 Total Assets $189,088 $188,306 $185,964
 LIABILITIES
 Current Liabilities
 Current Maturities of
 Long Term Debt $ 7 $ 732 $ 695
 Accounts Payable 11,007 12,092 13,612
 Accrued Group Insurance 1,155 1,970 2,923
 Accrued Liabilities 13,077 12,679 13,066
 Income Taxes --- --- 1,292
 Total Current Liabilities 25,246 27,473 31,588
 Long Term Debt, Less
 Current Maturities 3,996 3,925 3,992
 Deferred Income Taxes 5,002 5,443 5,341
 Total Liabilities 34,244 36,841 40,921
 SHAREHOLDERS' EQUITY
 Common Stock, without
 Par Value 69 69 67
 Additional Paid-In Capital 32,972 31,956 28,263
 Cumulative Translation
 Adjustment 407 16 729
 Retained Earnings 121,396 119,424 115,984
 Total Shareholders' Equity 154,844 151,465 145,043
 Total Liab & Shareholders'
 Equity $189,088 $188,306 $185,964
 -0- 7/15/92
 /CONTACT: Peter A. Guglielmi of Tellabs, 708-512-8111/
 (TLAB) CO: Tellabs, Inc. ST: Illinois IN: TLS SU: ERN


TM -- NY107 -- 9803 07/15/92 19:39 EDT
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Date:Jul 15, 1992
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