Telecommunications gear manufacturer Tekelec (Nasdaq: TKLC) reported earnings of 18 cents per share for the third quarter on Tuesday, topping Wall Street estimates by 6 cents.
However, Tekelec did miss on revenue estimates, reporting a 27 percent drop to $97.8 million from the same quarter in 2006. Analysts polled by Reuters had expected revenue of $106.3 million.
Tekelec did report a jump in orders in the quarter to $109.2 million, compared with $89.4 million in 2006.
“We are pleased with our operating results for the quarter, with strong gross margins, operating margins and earnings, coupled with solid orders growth in the September quarter resulting in a book-to-bill ratio greater than one,” said Tekelec Chief Executive Officer Frank Plastina.
“We again leave the quarter with a strong balance sheet and continue to expand our global footprint, evidenced by six new international customers this quarter,” he added.
