Tuesday, January 4, 2011

Tekelec's CEO Resigns, Financial Guidance Updated

Frank Plastina has stepped down as president and CEO of Tekelec. Krish Prabhu, a member of the Board of Directors and a 25-year industry veteran, has been appointed interim CEO.

The company also updated its 2010 Full Year Guidance. The company now expects orders for 2010 to be between $385 million and $395 million, with fourth quarter orders in the range of $175 million to $185 million, the second-highest in Tekelec's history. However, the company said revenue for a number portability project in India valued at more than $10 million would move to 2011. Accordingly, full year revenues for 2010 will be in the range between $415 million and $425 million and non-GAAP gross margins will be in the mid sixty percent range.

"In his five years at Tekelec, Frank led the successful transformation of the company into a global leader and innovator in next generation network intelligence, highlighted by record revenues and earnings during his tenure," said Mark Floyd, Chairman of the Board. "Frank has positioned Tekelec for the future, both in terms of product evolution and revenue growth, and we wish him great success in his next endeavor."http://www.tekelec.com

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