Teltronics goes bankrupt

SARASOTA — Teltronics Inc., a technology manufacturer specializing in communications and alarms, filed for Chapter 11 bankruptcy protection this week.

Documents filed with the U.S. Bankruptcy Court for the Middle District of Florida show Teltronics had $19.8 million in liabilities on its balance sheet at the time of the filing, against just $9.1 million in assets.

Despite earning a small operating profit in the third quarter of 2010, Teltronics posted $1 million in operating losses in the first six months of last year, financial records show. The company has 133 employees.