The Finnish technology company has reported annual net sales of €259.6 million, an increase of 4.8%, and profits of €15.6 million.
“In the fourth quarter, net sales increased and were the highest in Teleste’s history, but orders received decreased year-on-year. As a result of this, the order backlog continued to decrease,” explained CEO Jukka Rinnevaara. “Operating profit increased significantly as a result of the performance of Video and Broadband Solutions, but services business made a loss. Our full-year net sales and operating profit were the highest in Teleste’s history.”
Teleste says product renewal in its access network product has helped it to quickly become a market leader in DOCSIS 3.1 technology.