EXHIBIT 11

TELLABS, INC.

COMPUTATION OF PER SHARE EARNINGS

In millions, except per share amounts

	Third Quarter				Nine Months
	09/29/06		09/30/05		09/29/06		09/30/05
Numerator:
Net earnings	$	59.1	$	41.9	$	165.0	$	83.7
Denominator:
Denominator for basic earnings per share - Weighted average shares outstanding		445.5		447.8		447.7		450.4
Effect of dilutive securities:
Employee stock options and awards		5.7		5.4		9.2		4.0
Denominator for diluted earnings per share - Adjusted weighted average shares outstanding and assumed conversions		451.2		453.2		456.9		454.5
Net earnings per share – basic	$	0.13	$	0.09	$	0.37	$	0.19
Net earnings per share – diluted	$	0.13	$	0.09	$	0.36	$	0.18