EXHIBIT 11

TELLABS, INC.

COMPUTATION OF PER SHARE EARNINGS

(In millions, except per-share data)	2004			2003			2002
The following chart sets forth the computation of loss per share:
Numerator:
Net loss	$	(29.8	)	$	(241.6	)	$	(313.1	)
Denominator:
Denominator for basic loss per share – weighted average shares outstanding		420.2			413.1			411.4
Effect of dilutive securities:
Employee stock options and awards		—			—			—
Denominator for diluted loss per share — adjusted weighted average shares outstanding and assumed conversions		420.2			413.1			411.4
Loss per share, basic and diluted	$	(0.07	)	$	(0.58	)	$	(0.76	)

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. Had dilutive securities been included, weighted average shares outstanding would have been 424.7 million, 416.7 million and 414.9 million in 2004, 2003 and 2002, respectively.