Tekelec Reports Sharp Drop in 4th-Quarter Profit
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Tekelec, a Calabasas maker of telecommunications testing equipment, reported a sharp drop in its profit in the fourth quarter that ended Dec. 31, while revenues slid 4%.
Tekelec’s profit in the latest quarter was $381,000, down 72% from $1.39 million a year earlier. Revenues totaled $11.9 million, compared to $12.4 million in 1990’s fourth quarter.
The company said its results at the end of 1991 were hurt by the continuing sluggish economy and its effect on capital spending by the telecommunications industry.
In all of 1991, Tekelec earned $4.58 million, a 9% decline from $5.04 million in 1990. Revenue, however, rose 24% for the year to $52.4 million from $42.1 million.
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