Tellabs (Nasdaq: TLAB) reported earnings on April 26. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 29 (Q1), Tellabs met expectations on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped significantly. Non-GAAP loss per share didn't change. GAAP loss per share dropped.

Gross margins shrank, operating margins contracted, net margins grew.

Revenue details
 Tellabs booked revenue of $209.4 million. The 10 analysts polled by S&P Capital IQ hoped for sales of $212.5 million on the same basis. GAAP reported sales were 19% lower than the prior-year quarter's $257.9 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at -$0.04. The eight earnings estimates compiled by S&P Capital IQ predicted -$0.04 per share. Non-GAAP EPS of -$0.04 were the same as the prior-year quarter. GAAP EPS were -$0.16 for Q1 compared to -$0.38 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 34.5%, 260 basis points worse than the prior-year quarter. Operating margin was -12.5%, 50 basis points worse than the prior-year quarter. Net margin was -26.7%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $223.3 million. On the bottom line, the average EPS estimate is -$0.01.

Next year's average estimate for revenue is $906.3 million. The average EPS estimate is $0.00.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 383 members out of 431 rating the stock outperform, and 48 members rating it underperform. Among 90 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 82 give Tellabs a green thumbs-up, and eight give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Tellabs is hold, with an average price target of $2.47.

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