TSTC
Telestone Tech Sees Growth in 2007
Wednesday March 21, 12:28 pm ET
Telestone Technologies Expects 30 Percent Sales, Income Growth in 2007
NEW YORK (AP) -- Telestone Technologies Corp., which sells wireless network services and communications gear in China, on Wednesday said it expects massive earnings and sales growth in 2007.
The company expects increases of more than 30 percent in revenue and net earnings after taxes compared with 2006 when it reported a profit of $4.6 million on sales of $21.7 million.
The outlook does not include revenue from the upcoming third-generation, or 3G, network deployments in China, which Telestone expects will have a positive effect on sales, but can't be more specific until the licenses are issued to Chinese mobile operators.
Shares of Telestone added $1.47, or 19.1 percent, to $9.16 in midday trading on the Nasdaq Stock Market, where they have traded between $3.40 and $11.12 in the past year.
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