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Teleste sees sales and profits slide

Cable technology supplier Teleste has reported net sales of €41.9 million for the quarter to June, down 3.6% year-on-year. Operating profit fell by 45% to €900,000.

CEO Jukka Rinnevaara attributed the decline in sales to a lower level of network upgrades by operators and to a decline in demand for video surveillance systems. Teleste has left its outlook for the rest of the year unchanged. The company expects operating profit for the full year to be ahead of that in 2010 provided that services contracts in Germany remain on schedule.