Andrew B. Szafran, executive vice president and chief financial officer, has resigned from Tellabs for personal reasons, unrelated to Tellabs operations, financial reporting or business outlook. Tom Minichiello, Tellabs vice president, finance and chief accounting officer, will serve as acting CFO.

Tellabs Inc. Board of Directors has elected Vincent H. Tobkin as chairman of the Board of Directors of Tellabs. He succeeds Michael J. Birck, Tellabs' co-founder and chairman, who retired effective as of the end of the Annual Stockholder Meeting held on May 1, 2013. Tobkin has served as a Tellabs director since 2010. He was a senior advisor, retired director and global telecom/technology practice leader of Bain & Company from 1992 to 2009, general partner and founder of Sierra Ventures from 1984 to 1992, and a partner and consultant with McKinsey and Company from 1976 to 1984.

Tellabs Inc. reported unaudited consolidated earnings results for the first quarter ended March 29, 2013. For the quarter, the company has reported revenue totaled $209.4 million compared with $257.9 million in the year-ago quarter. On a GAAP basis, net loss was $55.9 million or 0.16 cents per basic and diluted share compared with a net loss of $139.8 million or 0.38 cents per basic and diluted share in the first quarter of 2012. On a non-GAAP basis, the company recorded a net loss of $13.6 million or 0.04 cents per basic and diluted share compared with a net loss of $15.3 million or 0.04 cents per basic and diluted share in the year-ago quarter. Operating loss was $60.8 million compared to $136.9 million for the same period a year ago. Loss before income taxes was $58.9 million compared to $136.1 million for the same period a year ago. Net cash flows used in operating activities was $5.4 million compared to $37.5 million for the same period a year ago. Capital expenditures were $3.1 million compared to $5.0 million for the same period a year ago. On non-GAAP basis operating loss was $21.9 million compared to $23.2 million for the same period a year ago. For the second quarter of 2013, the company expects revenue to be in a range from $200 million to $220 million, non-GAAP gross margin to be 36%, plus or minus a point or two and non-GAAP tax rate of about 32%. For the year 2013, the company expects improving revenue and non-GAAP gross margin as the year progresses.