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TEKELEC ANNOUNCES FOURTH QUARTER AND 1991 RESULTS

 TEKELEC ANNOUNCES FOURTH QUARTER AND 1991 RESULTS
 CALABASAS, Calif., Feb. 6 /PRNewswire/ -- Tekelec (NASDAQ: TKLC)


today announced results for the fourth quarter and year-ended Dec. 31, 1991. For the quarter, the company reported net income of $381,000, or $0.09 per share, compared with $1,385,000, or $0.33 per share, for the fourth quarter of 1990. Revenues decreased by 4 percent to $11,926,000 from $12,396,000 reported for the fourth quarter of last year. The company's results for the quarter include approximately $0.07 per share because of the decrease in the effective tax rate as a result of the lower than expected earnings and utilization of certain tax credits.
 For the year ended Dec. 31, 1991, the company reported net income of $4,581,000, or $1.07 per share, a decrease of 9 percent from the $5,040,000, or $1.22 per share reported last year. Revenues rose 24 percent to $52,449,000 from $42,148,000 for the prior year, the company's ninth consecutive year of revenue growth.
 Product orders for the quarter were approximately $11,738,000, compared with $13,423,000 for the fourth quarter of last year. The company's product backlog was approximately $3,800,000 at the end of the year. The company ended the year with cash of nearly $17,300,000 and no debt.
 Peter N. Vicars, president and chief executive officer, stated, "As we previously announced, sales for the fourth quarter were largely impacted by the continuing sluggish economy and its effect on capital spending by the telecommunications industry. Domestic and European business are particularly slow. We expect that at least the first half of 1992 will continue to be a tough environment."
 Vicars added, "The cornerstone of our long-term strategy is our sustained commitment to R&D programs and products that are both essential to and exploit our market opportunities. During 1991, we successfully launched the ChameLAN 100 into the FDDI/LAN market, which contributed nearly 12 percent of orders. In addition, new field service products for the WAN marketplace contributed 11 percent. The critical nature of the SS7 and the advanced intelligent network have created opportunities for applications using adjunct processor platforms opportunities, which we believe we can start to exploit in 1992 as a result of development efforts initiated in 1990."
 Tekelec is a premier supplier of diagnostic solutions that monitor, analyze and simulate the principal components of data and telecommunications networks to assure conformance to global standards, interoperability and efficient network performance. The company's products address a wide spectrum of protocols (ISDN, frame relay, X.25, OSI), signalling (SS7), cellular (GSM) and FDDI technologies. Tekelec's products are sold principally through a direct sales force in the United States, Japan, Australia and Canada, and through distributors worldwide.
 TEKELEC
 Condensed Consolidated Statements of Income
 (Thousands, except per share data)
 Three months ended Year ended
 Dec. 31, Dec. 31,
 1991(a) 1990(a) 1991(a) 1990
 Revenues $11,926 $12,396 $52,449 $42,148
 Cost and expenses:
 Cost of goods sold 3,662 4,308 16,364 13,782
 Research and
 development 3,107 2,140 10,867 6,931
 Selling, general and
 administrative 5,323 4,020 19,353 14,168
 (Loss) income from
 operations (166) 1,928 5,865 7,267
 Interest and other
 income, net 239 234 875 961
 Income before provision
 for income taxes 73 2,162 6,740 8,228
 (Provision)/benefit for
 income taxes 308 (777) (2,159) (3,188)
 Net income $381 $1,385 $4,581 $5,040
 Net income per share $0.09 $0.33 $1.07 $1.22
 Weighted average number
 of shares outstanding 4,248 4,148 4,288 4,122
 TEKELEC
 Condensed Consolidated Balance Sheets
 (In thousands)
 Dec. 31,
 1991(a) 1990
 Assets
 Current assets:
 Cash and equivalents $17,282 $16,397
 Accounts receivable, net 9,810 7,340
 Inventories 3,801 3,262
 Other current assets 1,536 919
 Total current assets 32,429 27,918
 Machinery and equipment, net 6,472 4,343
 Other assets 3,867 4,235
 Total assets $42,768 $36,496
 Liabilities and shareholders'
 equity
 Current liabilities $6,232 $5,500
 Other liabilities 437 680
 Total liabilities 6,669 6,180
 Shareholders' equity 36,099 30,316
 Total liabilities and shareholders'
 equity $42,768 $36,496
 (a) Unaudited
 -0- 2/6/92
 /CONTACT: Philip J. Alford, senior VP and CFO of Tekelec, 818-880-7900, ext. 7914; or Denise Burrows of Capital Relations, 818-889-9100, for Tekelec/
 (TKLC) CO: Tekelec ST: California IN: TLS SU: ERN


KJ-JL -- LA029 -- 7867 02/06/92 16:03 EST
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