Tekelec’s Profit Climbs on Strong Gain in Orders
Tekelec, rebounding from a weak showing in 1987, said its first-quarter profit soared from a year earlier on an 85% gain in revenue.
The Calabasas-based company, which makes equipment to test telecommunications and data communications products, said net income in the quarter ended March 31 jumped to $1.1 million, or 28 cents a share, from $91,000, or 2 cents a share, a year earlier. Revenue climbed to $6.73 million from $3.64 million.
Tekelec attributed the strong gains to a surge in orders, particularly from overseas customers, which swelled the value of Tekelec’s order backlog to $4.3 million from $2.5 million at the end of 1987.
Last year Tekelec’s full-year profit skidded 46% to $749,000 from $1.38 million in 1986, in part because of a $381,000 write-off of two discontinued product lines.