Telecommunications Company, Teltronics, Suffers 47 Drop In Revenue

Teltronics recorded a 47 percent drop in revenue in it’s second quarter reports and is saying that layoffs will occur.

The telecommunications company reported a loss of $3.2 million with a revenue of $6.2 million during 2Q 2010. That may be considered disastrous when just one year ago, the company managed a $1.5 million profit with $6.3 million in revenue during the same quarter in 2009.

Teltronics is attributing the poor performance in 2Q to a durastic cut back in spending from its largest customer. The customer was not mentioned by name.

Teltronics did assert that said customer did have four vendors , but that Teltronics received a higher percentage of its business due to one of Teltronics’ switching platforms.

The number of layoffs was not specified. At the beginning of 2010, Teltronics had 186 employees.