TTI Telecom (Nasdaq:TTIL) stuck to its routine, reporting record profits and revenues for the 22nd consecutive quarter.

"Our strong performance this quarter reflects our continued penetration of the service provider marketplace and our installed customer base for follow-on orders," Meir Lipshes, chief executive officer of TTI Telecom, tried to spill light on the company's success.

Investors had worried that the company might miss forecasts, hence the recent dive in its share price. The company today proved them wrong.

The Israeli company, which specializes in integrative software solutions to manage and control communications networks (NMS) and operating and support solutions (OSS) reported record $19.2 million revenue for the second quarter, 5.5% more than in the previous quarter and 32% more than in the parallel quarter of last year.

The company had guided toward $19 million revenue. Income from products comprised 85% of that sum, with services generating the rest.

Operating costs were $7.6 million in the quarter, up from $6.9 million in the last quarter.

The company's operating profit was $4.4 million, a $100,000 improvement versus the previous quarter and 42% above the parallel quarter.

TTI netted $5.1 million, or 42 cents per share, beating forecasts of 37 cents per share.

"We received orders from such new customers as TSTT, MobilCom and a leading wireless provider in Israel, and follow-on orders from several customers in Europe and North America," commented Lipshes.

"At the same time, we continued to build out our infrastructure to support an increasingly global customer base with the opening of new support offices in Hong Kong and Atlanta, the latter also focusing on the core development of next generation wireline technologies."