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 
|                                                                                                                  |  |               |       |             |   |          |  |          |       |  |   |