Tekelec Posts $8.7M Quarterly Profit on Record Revenues

MORRISVILLE,Shares in Tekelec (Nasdaq: TKLC) rallied 4 cents on Monday with the company reporting an $8.7 million profit for the third quarter.

The telecom networking gear manufacturer reported a record $1481 million in revenues for the quarter.

Shares in Tekelec had plunged 15 percent on Friday on the news that Chief Executive Officer Fred Lax was leaving the firm rather than transfer to its new headquarters in Morrisville.

Tekelec: www.tekelec.com