UPDATE 2-Tekelec Q2 profit tops Street, raises '08 earnings view
(Recasts; adds details, outlook from conference call, share movement)
Aug 6 (Reuters) - Tekelec TKLC.O, a maker of network switching systems, posted a quarterly profit that topped market estimates, helped by a 45 percent rise in orders, and raised its 2008 earnings outlook.
The company, whose shares were up about 7 percent before the bell, also lifted the lower end of its revenue outlook range for the year.
For the second quarter, Tekelec's net income was $15.3 million, or 22 cents a share, compared with a net loss of $7.8 million, or 11 cents a share, a year earlier. Revenue rose about 6 percent to $116.4 million.
Excluding certain items, it earned 23 cents a share from continuing operations.
Analysts expected earnings of 15 cents a share, before special items, on revenue of $111.3 million, according to Reuters Estimates.
For 2008, the company forecast non-GAAP earnings of 82 cents to 86 cents a share from continuing operations, up from its prior view of 75 cents to 80 cents a share.
It narrowed its revenue outlook range to between $460 million and $470 million. It had previously forecast $455 million to $470 million.
Analysts on average were expecting earnings of 80 cents a share, before special items, on revenue of $467.8 million.
Tekelec shares rose $1.17 to $17.31 in trading before the bell. They closed at $16.14 Tuesday on Nasdaq. (Reporting by Deepti Govind in Bangalore; Editing by Himani Sarkar)
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