TELESTE INCREASES ITS PREVIOUS GUIDANCE FOR 2011

Turku, Finland, 2012-01-11 16:03 CET (GLOBE NEWSWIRE) --
TELESTE CORPORATION   STOCK EXCHANGE RELEASE  11.1.2012  AT 17:00

 

TELESTE INCREASES ITS PREVIOUS GUIDANCE FOR 2011

Teleste Corporation increases its guidance released previously for 2011.

The changed guidance for 2011 is based on the higher than anticipated net sales and, therefore, on improved operating profit in the last quarter. In particular, deliveries related to optical product solutions and video surveillance projects performed better than predicted.

The new guidance for 2011:
Teleste estimates its net sales to increase approximately by 10% and operating profit to increase by 25 to 30% over the 2010 level.

Previous guidance in the Interim Report January-September on 26 October 2011:
We keep the outlook for 2011 unchanged. We estimate net sales to increase slightly and the operating profit to improve somewhat over the 2010 level.

Teleste will publish its Financial Statements for 2011 on 1 February 2012.

Teleste is an international technology group founded in 1954, which is specialized in broadband video and data communication systems and services. The Group is active in two business segments, Video and Broadband Solutions and Network Services; in both fields, we are among the global leaders. Video is at the core of our business activities, with a focus on the processing, transmission and management of video and data for operators and public authorities who provide various video-related information, entertainment and security services to end-users. Video and Broadband Solutions specializes in product solutions for broadband access networks, video service platforms and video surveillance applications. Network Services deliver comprehensive network service solutions including new construction, rebuilding, upgrading, planning and maintenance services of cable networks. In 2010 the Group's net sales totaled EUR 168 million and the Group employed 1,231 persons at the year-end. The company has approximately 30 offices world-wide and over 90% of Teleste's net sales are generated outside Finland. The company is listed on the NASDAQ OMX Helsinki Ltd.

For more information visit www.teleste.com.

 

TELESTE CORPORATION

Board of Directors

 

ADDITIONAL INFORMATION:
CEO Jukka Rinnevaara, phone +358 2 2605 866 or +358 400 747 488

DISTRIBUTION:
NASDAQ OMX Helsinki
Main Media
www.teleste.com