Tekelec reported another decline in quarterly revenue this morning, but its financial results exceeded expectations of Wall Street analysts.
The Morrisville company makes software and other telecommunications technology that helps move data and video over high-speed and wireless networks.
Tekelec reshuffled its top management and slashed jobs this year as it shifts to focus on faster-growing parts of its business. It's counting on increasing demand for products tied to next-generation wireless networks.
In May, the company laid off about 50 people at its Morrisville headquarters as part of a broader restructuring to cut costs. Tekelec employs about 1,250 people worldwide, including about 625 in the Triangle.
Second-quarter revenue was $96.8 million, down 12 percent from a year earlier. Excluding some charges, Tekelec's net income was $5.8 million, or 8 cents a share.
“We are encouraged by the progress we are making in our business transformation, the level of customer engagement, and our strategic new customer wins," CEO Ron de Lange said in a prepared statement. Tekelec promoted the former Lucent executive to CEO in late May.
Tekelec's stock is down 47 percent in the past year. The shares closed Wednesday at $7.56, up 26 cents.
De Lange and other executives will discuss Tekelec's latest results in a conference call at 8 a.m. Listen to the webcast here (go to the Investor Relations section and click on the webcast icon).