Courtesy of Benzinga.
Shares of Telestone Tech (NASDAQ: TSTC) are under much pressure during Tuesday’s trading session.
Early this morning, Telestone lowered its 2011 revenue guidance.
Telestone now projecs revenue for the year ended December 31 to drop 15% to 20% from the previous year to around $105.3 million to $111.9 million, versus its prior forecast for a 30% rise.
Telestone now projects profit for the year of $16.8 million to $22.4 million, versus its earlier forecast of around $27.5 million.
Shares of Telestone Tech have have rebounded off the session lows; however it is still down over 15% at $3.52
(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.
For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.
