Teleste Corporation (HEL: TLT1V) announced on Wednesday that its net sales and operating profit for 2011 will be higher than previously anticipated. In the fourth quarter everything came together and deliveries related to optical product solutions and video surveillance all outperformed expectations.
The new guidance is for estimated net sales approximately 10% above 2010 and operating profit up between 25 and 30% year-on-year. Previous guidance was calling for a slight increase in both. Teleste aims to be a leading provider of broadband video technology and services for operators. The company’s stock jumped over 11% on the news.
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