Business
TLSY: Revenue and profit dropped sharply as customers drew down inventories; full Variscite ownership achieved
TLSY: Revenue and profit dropped sharply as customers drew down inventories; full Variscite ownership achieved
About this update from Telsys Ltd.
Revenue fell 30% year-over-year to ₪295 million due to high customer inventories and lower demand, with net income and cash flow also declining. The company completed a share swap for full Variscite ownership and distributed significant dividends.Original document: This is an AI-generated summary and may contain inaccuracies. Please verify any important information with the original source.