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Teleste Q2: “Strong demand for products”

Finnish technology company Teleste, which offers broadband video and data communication networks, has reported Q2 net sales at €59.7 million versus €49.4 million a year ago. Q2 operating profit was at €2.5 million versus €1.4 million a year ago whilst Q2 orders received were up to €64.1 million from €50.3 million a year ago

Commenting on the results CEO Jukka Rinnevaara said: ”The demand for Teleste’s products continued to be strong during the second quarter. Orders received in the quarter reached €64.1 million, the highest level in Teleste’s history. As a result of increased product deliveries, operating profit and earnings per share also improved clearly over the comparative period.”

“Demand for Video and Broadband Solutions was good while orders received increased the order backlog to the record high level of €46.7 million. The demand for products complying with the DOCSIS 3.1 standard was particularly good. Net sales of the business area rose to €36.5 million, which is the highest ever net sales in a single quarter. Net sales grew particularly owing to the Mitron acquisition, but also in the access network products. Growing market areas included particularly Poland, Norway, and Israel. The operating result was especially boosted by the delivery volumes in access network products and the improved profitability of the video headend products.”

“For Network Services the second quarter was a disappointment. In Germany, the need for services of our largest customer failed to increase according to forecasts, resulting in an unbalanced resource allocation and a negative result. In the UK, the investment designed to expand the business was continued. Launching of new customerships has progressed, but the new projects have not yet reached the volume required for profitability. In other countries, the result of the services business has evolved better than we predicted,” he concluded

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