4th-Quarter Turnaround Reported by Tekelec

Tekelec, the Calabasas maker of telecommunications equipment, reported a turnaround in the fourth quarter that ended Dec. 31. Earnings for the quarter were $2.1 million compared with a loss of $8.6 million in the same period the year before. Revenue was up 61% to $18.76 million from $11.62 million in the fourth quarter a year ago.

For the year ended, Tekelec said earnings were $4.46 million compared with a loss of $18.54 million in the previous year. Revenue for the year grew 31% to $61.19 million from $46.86 million the year before.

The company said new orders for its telephone network switching and diagnostic devices from GTE and others last year--as well as a new marketing relationship with AT & T established in September--helped fuel the turnaround.