EXHIBIT 11

TELLABS, INC. AND SUBSIDIARIES
COMPUTATION OF PER SHARE EARNINGS

(In millions, except per-share data)	2003		2002		2001
The following chart sets forth the
computation of loss per share:
Numerator:
Net loss	$      (241	.6)	$      (313	.1)	$      (182	.0)
Denominator:
Denominator for basic loss per share -	413	.1	411	.4	409	.6
weighted-average shares outstanding
Effect of dilutive securities:
Employee stock options and awards	--		--		--
Denominator for diluted loss per share -
adjusted weighted-average shares	413	.1	411	.4	409	.6
outstanding and assumed conversions
Earnings (loss) per share, basic and diluted	$         (0	.58)	$         (0	.76)	$        (0	.44)

Under G.A.A.P., dilutive securities are not included in the computation of diluted earnings per share when a company is in a net loss position.