Seeking Alpha

QualityStocks'  Instablog

QualityStocks
Send Message
QualityStocks (www.qualitystocks.net) assists publicly traded companies by getting their story out to the investment community while helping investors discover emerging companies with plenty of growth potential. Our name, QualityStocks, emphasizes our commitment to connect subscribers with... More
My company:
QualityStocks
My blog:
QualityStocks Micro-Cap and Small-Cap Blog
  • Telestone Technologies Corp. (TSTC) Posts Solid Q1 2011 Figures 0 comments
    May 16, 2011 5:38 PM | about stocks: TSTC
    Telestone Technologies Corp., a leading developer and provider of telecommunications local access networks in China, today announced its financial results for the first quarter ended March 31, 2011.

    First-quarter revenue increased 30 percent to $14.5 million, up from $11.1 million reported for the first quarter of 2010. Revenue from equipment sales rose 37 percent to $7.0 million, as compared to $5.1 million in the year-ago quarter. Sales of professional services increased 24 percent from $6.0 million to $7.5 million in the first quarter of 2011.

    Gross profit for the quarter increased 33 percent to $6.6 million compared to $4.9 million a year ago. Gross margin increased to 45 percent, as compared to 44 percent in the same period last year.

    The company reported net income of $1.6 million, or $0.13 per share, as compared to net loss of $1.1 million, or $(0.11) per share, in the same period last year.

    As of March 31, 2011, Telestone had $26.5 million in cash and cash equivalents, compared to $31.0 million at the end of 2010. Inventory was $4.8 million on March 31, 2010, compared to $3.1 million on December 31, 2001. Working capital was $111.7 million at the end of March 31, 2011, versus $109.6 million at the end of 2010.

    “We are off to a good start in 2011 with solid growth in revenue and net income.” Daqing Han, chairman and CEO of Telestone stated in the press release. “We saw several positive developments in the first quarter of 2011, which is normally seasonally slow for the telecommunications-equipment industry and also included the Chinese New Year holiday”

    For the full-year 2011, Telestone said it expects revenues to increase by about 30 percent to approximately $171 million with full-year 2011 net income to increase by about 10 percent to approximately $27.5 million, or $2.22 per diluted share. In 2012, the company expects revenues to double to approximately $342 million.

    CEO Han said the company will move forward with a focus on operations and expansion of its customer base.

    “Due to our shift in focus on operations and collections rather than pure growth in 2011, we are expecting to grow at a slower pace than 2010. However, we expect these measures to position us for accelerating growth in 2012 and beyond,” Han stated.

    For more information visit telestone.com

    Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net
    Stocks: TSTC
Back To QualityStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.