(RTTNews) - Telecommunications networking products company Tellabs Inc. (TLAB: News ) Monday reported a profit for the third quarter of fiscal 2009, compared with a loss last year that included a non-cash goodwill charge. On a non-GAAP basis, the company's earnings rose year-over-year despite lower revenues. The company also provided revenue outlook for the fourth quarter.

The company's third-quarter net earnings were $29.3 million or $0.07 per share, compared with a loss of $998.5 million or $2.51 per share in the prior-year quarter that included a non-cash goodwill charge of $988 million. For the preceding second quarter, the company earned $15.7 million or $0.04 per share.

Third-quarter non-GAAP net earnings rose to $28.2 million or $0.07 per share from $18.7 million or $0.05 per share last year. The current quarter's non-GAAP results excluded pretax charges of $11 million, which includes $4.5 million or $0.08 per share for equity-based compensation.

On average, 10 analysts polled by Thomson Reuters expected the company to report earnings of $0.06 per share for the quarter. Analysts' estimates typically exclude one-time items.

Total revenue declined 8.2% to $389.3 million from $424.1 million reported in the same period a year ago, as growth in Transport and Services segment revenue was offset by lower Broadband segment revenue. Analysts estimated revenues of $394.03 million for the quarter. For the second quarter, the company's revenue was $385 million.

According to the company, almost half of overall revenue came from growth products, including the Tellabs 6300, 7100, 7300, 8600 and 8800 systems and professional services.
Products revenue totaled $333.8 million, down from $368.8 million in the previous year, hurt by lower managed access and access product revenue, which offset revenue growth in data products and Transport segment products..

Segment wise, the company's Broadband revenue was $205.9 million, 20.6% lower than the same period last year. Data product revenue grew 21.2% to $81.9 million from $67.6 million in the third quarter of 2008. Managed access revenue totaled $37.9 million, compared with $78.5 million in the prior-year quarter. Access revenue slid to $86.1 million from $113.2 million a year ago.

The company's Transport segment revenue rose 16.8% to $127.9 million from $109.5 million in the previous year, driven by increased sales of optical networking systems.

Additionally, Services segment revenue edged up 0.4% to $55.5 million from $55.3 million a year ago.

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