Key Developments: Teleste Oyj (TLT1V.HE)
4.30EUR
18 Jun 2013
€0.01 (+0.23%)
€4.29
€4.29
€4.30
€4.29
1,800
8,372
€4.47
€3.63
Latest Key Developments (Source: Significant Developments)
Teleste Oyj Acquires All Shares in Teleste Management Oy
Teleste Oyj announced that in March 2010, the members of the Teleste Management Group established a company named Teleste Management Oy. Teleste Management Oy subscribed for 381,000 Teleste Corporation shares in a share issue directed by Teleste Corporation. The acquisition was financed by the management’s capital investments, in the total amount of EUR 290,000, as well as by a loan in the amount of EUR 1,160,000 provided by Teleste Corporation. The shareholders of Teleste Management Oy and Teleste Corporation have agreed on a share swap where the management’s ownership will become a direct ownership in Teleste Corporation. In the share swap, Teleste Corporation will acquire all the shares in Teleste Management Oy, and the shareholders of Teleste Management Oy will receive shares in Teleste Corporation in return. To implement the share swap, the Board of Directors of Teleste Corporation has decided on a directed share issue in which the Company offers, in derogation from the shareholders’ pre-emptive subscription rights, 113,331 Teleste Corporation shares held by the Company to the shareholders of Teleste Management Oy against share consideration. Full Article
Teleste Oyj to Join Joint Venture with Cable operator of Gansu Province and Shanghai OTEC Information Technology
Teleste Oyj announced that it has reached agreements with governmental cable operator of Gansu Province and Shanghai OTEC Information Technology. As a result, Teleste will have 10% ownership of a joint venture owned by the three parties. The agreements also cover sales development of the Chinese cable market as well as commencing a local manufacturing facility. Full Article
Teleste Oyj Comments on H1 2013 and FY 2013 Financial Guidance
Teleste Oyj announced that it expects to report net sales and operating profit for fiscal year 2013 to reach the fiscal year 2012 level. In the Company’s assessment, net sales and operating profit for the first half of fiscal year 2013 will remain below the comparative period. The Company reported fiscal year 2012 net sales of EUR 193.9 million and fiscal year 2012 operating profit of EUR 10.9 million. According to I/B/E/S estimates, analysts on average are expecting the Company to report fiscal year 2013 net sales of EUR 197.81 million and fiscal year 2013 operating profit (EBIT) of EUR 10.89 million. Full Article
Teleste Oyj Acquires Asheridge Communications Ltd
Teleste Oyj announced that the Company has acquired the entire share capital of Asheridge Communications Ltd, the English provider of access network equipment for cable operators. With offices in the United Kingdom, Spain and Poland the Asheridge Group is bringing customer relationships in Great Britain, Ireland, The Netherlands and Southern Europe which complement and Teleste’s existing customer base. Financial details were not disclosed. Full Article
Teleste Oyj Refocuses OTT Offering Business and Plans Personnel Reductions within Development Team
Teleste Oyj announced that the Company has decided to focus its activities in the future on OTT product innovations (over the top) as a part of the Ubique solution brand launched in 2012. Consequently, Teleste has decided to discontinue the development of its own IPTV Middleware offering and to seek partnerships in this area. Additionally, the Company announced that it has initiated co-determination negotiations covering Teleste's development team in Tampere. The estimated number of personnel reductions is six persons. Full Article
Teleste Oyj Announces Details of FY 2012 Dividend Proposal
Teleste Oyj announced that its Board has proposed to the Annual General Meeting that a dividend of EUR 0.17 per share should be paid based on the adopted balance sheet for the financial period that ended on December 31, 2012 for shares other than those held by the Company. The dividend will be paid to a shareholder who on the record date of dividend payment April 17, 2013 is registered in the Company's shareholders' register maintained by Euroclear Finland Ltd. The dividend will be paid on April 24, 2013. Full Article
Teleste Oyj Proposes FY 2012 Dividend of EUR 0.17 per Outstanding Share
Teleste Oyj announced that the Board of Directors proposes that a dividend of EUR 0.17 per outstanding share be paid for the fiscal year 2012. Previously, the Company reported a dividend of EUR 0.14 per outstanding share for the fiscal year 2011. Full Article
Teleste Oyj Comments On FY, H1 2013 Guidance
Teleste Oyj announced that for fiscal 2013, it expects net sales (revenue) and operating profit (EBIT) to reach the fiscal 2012 level. For first half of 2013, it expects net sales and operating profit to remain below the comparative period. The Company reported revenue of EUR193.9 million and EBIT of EUR10.9 million for fiscal 2012; revenue of EUR100.8 million and EBIT of EUR5.36 million for first half of 2012. According to I/B/E/S Estimates, analysts on average are expecting the Company to report revenue of EUR201.2 million and EBIT of EUR13.09 million for fiscal 2013. Full Article
Teleste Oyj's Subsidiary Receives New Order
Teleste Oyj announced that Teleste LLC, a fully owned subsidiary of the Company, was awarded to expand the enterprise video recording system for the Chicago Transit Authority (CTA). The project includes supplying a network video recording platform for video surveillance cameras in various strategic locations. In addition to hardware and software products, the project includes three year maintenance and support. The value of this additional project for Teleste is estimated to EUR 1.4 million and it is planned to be delivered during 2013. Full Article
Teleste Oyj to Supply Cable Television Access Network Equipment to Stofa A/S
Teleste Oyj (Teleste) announced that Stofa A/S (Stofa), a cable operator in Denmark, has signed a frame agreement with Teleste regarding the supply of cable TV (television) access network equipment. The frame agreement is valid for two years and the estimated value is around EUR 2 million. This frame agreement is renewing and extending the previous agreement and hence ensuring smooth continuation of Stofa’s access network capacity upgrades. Under the agreement, Teleste will supply its products belonging to the intelligent network concept ranging from optical transmission equipment to coax amplifiers, as well as network management software tools. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
