Tekelec Reports 89% Decline in Profits

Tekelec, a Calabasas-based maker of diagnostic systems and switches used in communications networks, reported an 89% plunge in its third-quarter profit.

In the three months ended Sept. 30, Tekelec earned $275,000, compared to a profit of $2.56 million a year earlier. Its revenue fell 3%, to $19.4 million from $19.9 million.

During the quarter, the company had a one-time charge and expenses totaling about $577,000 to cover the costs of consolidating its Ohio research facility into its New Jersey plant.

For the nine-month period, the company lost $5.11 million, compared to net income of $6.08 million a year before. Its revenue was $48.1 million, down 17% from $58.1 million.