­Tellabs has announced that its third quarter revenues fell to US$264 million, compared to US$330 million a year ago. The biggest drop was concentrated in the company's product sales, although services also saw a smaller decline.

However the net loss shrank to US$4 million, compared to US$130 million a year ago, which were themselves higher than usual due to an impairment charges for goodwill and other intangible assets of $102.7 million. 

The company has also announced that it will cut around 200 jobs in a move that aims to reduce costs by $20 million per year.

For the third quarter of 2012, Optical segment revenue was $108 million, Data segment revenue was $66 million, Access segment revenue was $42 million and Services segment revenue was $48 million.

"As we transform Tellabs' business model and create a path to sustained future growth and profitability, we must continue to lower costs and expenses," said Dan Kelly, Tellabs acting CEO and president. "At the same time, we are increasing R&D investments in our next-generation products to help our customers succeed with Tellabs optical, data and access solutions."