Telecom Lead America: Rob Pullen, CEO & president,
Tellabs, sent a letter on April 20, 2012, to the company’s shareholders and
others, explaining his health conditions. While Telecom Lead is hoping for a
speedy recovery, we are reproducing a copy of the letter.
Dear Stockholders, Customers, Employees and Friends,
I recently went to the doctor, and was diagnosed with
colon cancer. I am determined to fight it and beat it.
I’m working during the course of my treatment. I started
chemotherapy a few weeks ago, and the doctors already are seeing some positive
signs. My energy level is great.
We have a strong management and executive team to lead
our business and take care of our customers. We’re focused on moving Tellabs’
business forward. I’m pleased that I have full support from our Board of
Directors and Tellabs employees.
I’ll let you know if my health situation changes. I
appreciate your understanding and support.
Sincerely, Rob Pullen, CEO & president, Tellabs
Tellabs to cut 530 jobs as revenue dips 21 percent in 2011 to
$1.3 billion
Tellabs has posted a fourth quarter 2011 revenue of $317
million, compared with $410 million in the year-ago quarter. Revenue
of Tellabs in 2011 was $1.29 billion compared with $1.64 billion in
2010, registering 21 percent dip.
Tellabs posted a net loss of $5 million or 1 cent per
share in Q4 2011, compared with a net loss of $11 million or 3 cents per share
in the fourth quarter of 2010.
Tellabs recorded net earnings of $4 million or 1 cent per
share in the fourth quarter of 2011, compared with net earnings of $6 million
or 2 cents per share in the year-ago quarter.
Tellabs will restructure its business and recognize a
pretax charge, substantially all of which is expected to be incurred in the
first quarter of 2012, currently estimated at $107 million.
The 23 percent decrease in revenue in Q4 2011 is forcing
the company to cut 530 jobs shortly.
