UPDATE 2-Tekelec Q4 profit beats Street; sees strong first half

mercoledì 11 febbraio 2009 20:31
 

* Q4 adj EPS $0.27 beats Street

* Guides H1 EPS, rev above estimates

* Shares rise 11 pct (Recasts; adds conference call details, analyst comments)

By Shrutika Verma

BANGALORE, Feb 11 (Reuters) - Tekelec TKLC.O, which helps phone companies enable services such as caller ID and number portability, posted quarterly earnings that beat Wall Street targets and forecast a strong first half, sending its shares up 11 percent.

Results for the fourth quarter gained as U.S. telecom service providers continued to add subscribers, and the company got more business from its higher margin products.

Tekelec's customers include global giants such as AT&T Inc (T.N: Quotazione), France Telecom FTE.PA unit Orange Group and Telecom Italia (TLIT.MI: Quotazione).

"Results were right in line... it is more positive that the guidance for 2009 was ahead of expectations, that is why the stock is doing well," Robert W. Baird & Co analyst Kenneth Muth said.

Tekelec's results come as a bright spot even as network giant Cisco Systems (CSCO.O: Quotazione) earlier this month forecast a gloomy quarter and phone companies AT&T and Verizon Communications (VZ.N: Quotazione) said they would rein in spending.   Continua...