EXHIBIT 11
TELLABS, INC.
COMPUTATION OF EARNINGS PER SHARE
(Unaudited)
(In thousands, except per share data)
Three Months Ended
March 29, March 31,
1996 1995
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PRIMARY EARNINGS PER SHARE *
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Weighted average number of common
shares outstanding during the period 88,858 87,532
Net additional shares assuming
dilutive stock options exercised and
proceeds used to purchase treasury
shares at average fair market value 3,083 3,682
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Weighted average number of common
shares and common equivalent shares
outstanding 91,941 91,214
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Net earnings $31,127 $22,941
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Primary earnings per share $0.34 $0.25
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FULLY DILUTED EARNINGS PER SHARE *
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Weighted average number of common
shares outstanding during the period 88,858 87,532
Net additional shares assuming
dilutive stock options exercised and
proceeds used to purchase treasury
shares at fair market value 3,162 3,770
--------- ---------
Weighted average number of common
shares and common equivalent shares
outstanding 92,020 91,302
========= =========
Net earnings $31,127 $22,941
========= =========
Fully diluted earnings per share $0.34 $0.25
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* 1995 share amounts are restated to give effect to the two-for-one
stock split effective May 19, 1995.