BEIJING, Feb. 5 /PRNewswire-Asia/ -- Telestone Technologies Corporation (Nasdaq: TSTC; "Telestone" or the "Company") a leading developer of local access network solutions, products, and engineering services today reaffirmed its guidance for achieving $70 million in revenues for calendar 2009.
"The pace of network installations for the nationwide 3G roll-out accelerated significantly during 2009," opened Chairman and CEO, Mr. Han Daqing. "The fourth quarter of 2009 was the largest contributor of our revenue for the year and consistent with our expectations. We are confident in achieving our revenue guidance of $70 million for 2009, which will be a record for our company. We also made further progress during the quarter in collecting long-term receivables from our previous customers who were subsequently absorbed by the remaining "Big 3" Wireless Carrier," Han concluded.
The Company will do its best to report 2009 year end numbers as early as possible. Management will host a conference call to accompany the earnings release and further details surrounding this event will be forthcoming.
About Telestone Technologies Corporation
Telestone is a leading innovator in local access network technologies and solutions. Telestone is a global company with 26 sales offices throughout China and a network of international branch offices and sales agents. For more than 10 years, Telestone has been installing radio-frequency based 1G and 2G systems throughout China for China's leading telecommunications companies and is currently engaged in 3G system deployment for the wireless carriers. After intensive research on the demands of carriers in the 3G age, Telestone developed its third generation technology, WFDS(TM) (Wireless Fiber-Optics Distribution System), which provides a scalable, multi-access local access network solution for China's three cellular protocols. Telestone offers services that include project design, project manufacturing, installation, maintenance and after-sales support. Telestone Technologies has approximately 1,200 employees.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business and financial results of Telestone Technologies Corporation and its subsidiary companies. Forward looking statements can be identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, concentration in a single customer, raw material costs, market acceptance, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. Telestone Technologies is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
For further information, contact:
Company:
Ren Hu, Board Secretary
Tel: +1-201-887-0415
Email: huren@telestone.com
Investor Relations:
John Mattio
HC International Inc.
Tel: +1-203-616-5144
Email: john.mattio@hcinternational.net
