Tekelec Posts Loss of $185,000 in 3rd Quarter
Tekelec, a Calabasas maker of telecommunications testing equipment, said it lost $185,000 in the third quarter that ended Sept. 30 because its expenses increased and a larger share of its sales were of less profitable products.
A year earlier, Tekelec had a profit of $1.32 million.
Its revenue totaled $16.3 million, a 23% increase from $13.2 million in the third quarter of 1991.
Tekelec’s nine-month profit plunged 88%, to $503,000 from $4.2 million a year before. Its revenue increased 13%, to $45.6 million from $40.5 million.
After announcing its financial results, Tekelec’s stock plunged $4 a share on Friday to close at $9. The stock remained unchanged Monday.
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