Stock price of Tekelec (Nasdaq: TKLC) hit a new 52-week low of $7.05 on Wednesday, but the company did report early Thursday better numbers than Wall Street analysts had expected.

The telecommunications company reported $96.8 million in revenue, better than Street expectations of $93.1 million.

Profits were 8 cents per share vs. Street consensus of 4 cents after one-time adjustments and other expenses.

However, revenues were down from 12 percent a year ago, and orders dropped 9 percent, the company said before the markets opened.

Tekelec has undergone a reorganization and management shuffle in recent months.

Its backlog of orders is down to $271.8 million from $338.8 million as of Dec. 31.

“We are encouraged by the progress we are making in our business transformation, the level of customer engagement, and our strategic new customer wins,” said new Chief Executive Officer Ron de Lange in a statement. “Orders for our data and video solutions more than doubled during the first half of 2011. In addition, we generated strong cash flows from operations and exited the quarter with a strong balance sheet.”

Tekelec’s cash and cash equivalents increased to $263 million from $221 million as of Dec. 31.

For the year, Tekelec estimated that revenues will range between $360-$400 million and a loss of between 48-58 cents per share before adjustments.

Read the earnings report here.

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