Communication services provider Telestone Technologies Corp. (TSTC), Friday reported a sharp decline in profit for the fourth quarter primarily on lower revenues.
The China-based company reported a fourth quarter net profit of $3.54 million or $0.29 per share, compared to $12.31 million or $1.10 per share last year.
Adjusted net profit for the quarter plunged 74.6 percent to $3.76 million or $0.30 per share from $14.79 million or $1.33 per share in the year-ago quarter.
Total revenue for the quarter dropped 33.1 percent to $40.65 million from $60.80 million in the prior-year quarter.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.