Tekelec Profits Decline, Costs of GTE Deal Cited
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Tekelec posted a loss in its second quarter on a 14% drop in revenues.
In the quarter that ended June 30, Tekelec posted a net loss of $1.4 million, compared with a profit of $2.1 million a year earlier. Revenues in the latest quarter were $16.9 million, down from $19.5 million in the same period a year ago.
For its six months, Tekelec posted a net loss of $5.4 million, compared with a profit of $3.5 million a year earlier. Revenues for the six months fell 25% to $28.8 million, down from $38.1 million.
The company said that part of its loss was due to an initial shipment to GTE and nonrecurring costs associated with that deal.
The Calabasas-based company is a maker of diagnostic systems used in computer network switching systems.
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