Tellabs reports earnings dip

NAPERVILLE - Tellabs Inc. said Monday its second-quarter net income fell by more than half as sales dropped 11 percent and the company booked large one-time expenses. The telecommunications gear provider said its profit totaled $15.7 million, or 4 cents per share, down 60 percent from $39 million, or 10 cents per share, in the year-ago quarter. Excluding one-time charges in the latest quarter, Tellabs earned $33 million, or 8 cents per share. The 2008 quarter included special items such as a tax benefit of 9 cents per share. Sales fell 11 percent to $385.4 million. Analysts expected $381.3 million.