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Telit Communications PLC
Half year trading update
London, 11 July 2018 - Telit Communications PLC ("Telit", "the Group", AIM: TCM), a global enabler of the Internet of Things (IoT), has published a trading update for the six months to 30 June 2018.
Group revenue is expected to be in the order of $201 million (H1 2017: $177.6 million), an increase of 13.2% year-on-year, with a revenue contribution from Telit's connectivity and IoT platforms services in the order of $16.5 million, up 16.2% (H1 2017: $14.2 million).
Gross profit margins have stabilised following the declines seen in 2017.
As at 30 June 2018, Group net debt had decreased by $5.2 million to $25 million (31 December 2017: $30.2 million).
The Group plans to publish its interim results during the first half of September 2018.
Yosi Fait, Chief Executive, commented:
"We look forward to reporting a strong performance in the first half of the financial year, in line with our expectations. Revenue growth was driven by the increase in delivering of LTE products, mainly in the North American market, ramp up of new designs and strong demand for our connectivity capabilities.
"Our cost optimisation plan, initiated during the last quarter of 2017, is on track and we are already seeing some of the operational and financial benefits.
"Our gross margins have now stabilised and together with the revenue growth and costs rationalisation, we are making headway towards a return to being a sustainably cash generative business."
Enquiries:
Strange AGM, I’m used to quick ones but this took the biscuit, in fact no biscuits or coffee, probably as thy planned a 3 minute meeting.
No-one can fortell the future but I'm sticking in here. 1. It takes much longer than we allow for complex end-to-end solutions to be integrated with OEM's existing technology. 2. There is a significant possibility that one of the big systems integrators will seize on TCM as a takeover target to avoid much expensive development.
Well what's happening here. Very quiet board compared to a few months ago. The takeover talk has all but disappeared and the automotive sale has not materialised. This doesn't look as promising as some of the hype previously posted here a few months ago. Possibility more skeletons going to jump out of the closet looking at all of the negative news reports lately??? 100p or less would be worth another punt if more bad news announced maybe???? I can only rate this a sell IMHO as the management are offering much in the way of an action plan.
......still dropping back on bad news???
Watching this with interest. Sp is starting to steadily drop back. Death by a thousand cuts. Maybe more bad news coming. Entry point of 100p would be nice
Accelerate IoT Deployment by First Tackling Operational Technology Integration Challenges 26/04/2018 5:29pm PR Newswire (US) Telit (LSE:TCM) Intraday Stock Chart Today : Thursday 26 April 2018 Click Here for more Telit Charts. SANTA CLARA, Calif., April 26, 2018 /PRNewswire/ -- As IoT (Internet of Things) solutions are fueled by data from a variety of operational assets to drive intelligence and data analytics within enterprise management systems, the integration of operational technology (OT) and information technology (IT) is a well-known challenge. Frost & Sullivan defines OT as the hardware and software used for sensing and collecting data, including all the hardware at the edge of the network. Further, most IoT solutions involve a combination of OT and IT. Frost & Sullivan's new white paper, Bridging the Gap between Operations and Information Technology, highlights the IoT challenges faced by the CIO's team and how Telit solves conflicts between IT and operations departments, by leveraging their OT system integrators expertise. To download the complimentary whitepaper, please visit: http://frost.ly/2bg IoT has put IT and OT on a collision course due to its role in blurring the lines between both worlds. The use of an organization's network, security, cloud capabilities, and integration with other existing enterprise applications, involves the IT staff during the solution development. However, the IT department is generally not focused on connectivity and asset management, and often needs further expertise in dealing with the operational complexity of these areas. Developing OT expertise in the IT area will create an environment that ensures success of IoT implementations. While this CIO office transformation is a long-term process, organizations that work with IoT providers which understand the importance of breaking silos between IT and OT will be best positioned to lead the market. Alleviating this problem will be essential to realize the vision of digital transformation and increasing the return on investment (ROI) from IoT. "This transformation takes many forms and a modular approach to combine new devices and top down integration testing with cloud-based platforms, can help organizations make incremental changes that create business benefits, rather than making large investments that take many years to generate ROI," explained Dilip Sarangan, IoT & Digital Transformation Research Director at Frost & Sullivan. "This approach ensures that organizations can make changes along the way that result in increased productivity, automation, and cost reduction, as well as additional safety and optimized operations for employees and customers." "Telit accelerates OT & IT integration for our customers, making the integration of any device to existing IT systems easily. Nearly two decades of experience, thousands of IoT use cases, and 100 million connected devices globally set
Confidence must be picking up. A few months ago Telit would of issued a RNS for this: https://finance.yahoo.com/news/telit-partners-siemens-accelerate-industrial-070500939.html
What with the fca, italian vat, italian tax investigations/appeals, this one needs a wide berth before it settles down, Seems to be out of control or leadership.
Nope, see updated RNS. " it has commenced an investigation into Telit with regard to the timeliness of announcing certain matters included in the interim results published on 7 August 2017." Most likely the covenant breach that occurred but was not reported at the time. Yosi Fait selling his holdings around the time it came to light was just a coincidence, of course.
Timeliness of the results to be correct.
TCM investigated for the august 2017 figures
Oh dear, Italian tax case rejected on appeal. I was thinking of getting back here but this is not good. The results statement wasn't that reassuring either. Look like a case of sitting on sidelines until the dust settles. SP seems to be taking one step forward and two steps back.
The results need to be viewed in the context of all the upheavals this year. This included major delays by supplier Intel, which led to delayed sales and the substitution by Telit of more expensive modules to fulfil orders. The good news is that these problems are now in the past. Revenue figures are better than I expected and adjusted EBITDA positive, though statutory profit is likely to look pretty horrible. You would expect the new management to produce 'throw in the kitchen sink' figures with every write down they can find. Given they have market leading products R&D must be a major cost. The Chairman's statement looks reassuring that the new management are getting to grips with the stable running of the business and finance functions to support their existing technology and sale strengths.
Well guys. Having been in and out of Telit last year for a good profit, albeit I missed the peak at 200p, good fortune came today on Laird Plc which I mentioned here.....similar IOT company. Well Laird surged today from about 115p to 202p by close of play....I'm hoping for hostile counter bid of 250p..I hope same happens to Telit...
towards the end of the article: https://www.reseller.co.nz/article/633769/nz-customers-board-google-cloud-iot-core-goes-live/?fp=2&fpid=1
Frost & Sullivan Recognizes Telit as a Customer Value Leader for Its Broad Portfolio of Industrial IoT (IIoT)-Driven Offerings http://www.prnewswire.co.uk/news-releases/frost--sullivan-recognizes-telit-as-a-customer-value-leader-for-its-broad-portfolio-of-industrial-iot-674822153.html Telit Communications : Announces World�s Fastest Mobile Data Product, First 1Gbps-class LTE Mini PCIe Card http://www.4-traders.com/TELIT-COMMUNICATIONS-PLC-4005153/news/Telit-Communications-Announces-World-rsquo-s-Fastest-Mobile-Data-Product-First-1Gbps-class-LTE-Mi-26037636/
WPG Americas Inc. Announces New Partnership with Telit to Distribute Their IoT Module Offering https://finance.yahoo.com/news/wpg-americas-inc-announces-partnership-121000613.html
Just a balancing trade. Mind you why they had to open with another �28 balancing trade this morning is beyond me.
Where's that come from, trade from 2/1/18 for �1,584 million ?
I'm not in here but every time tw att and Co at sh. Pro. Bash this up goes the share price. Is someone at share pro not telling me something.???
Release a story to the Sunday papers. Rns follows saying all speculation but people are fighting to buy our company�s assets. Gets the banks off their backs for a bit and gets the share price higher just in case they need to do a fund raise instead.
Hi all, according to the Times U-Box is considering a�150m bid for Telit's automotive division.
Not posted here for a few months since I sold out a few months ago at a small profit to concentrate investments in the oil sector mainly FPM and HNR, but still believe this one could be vulnerable to a takeover bid this year and offers upside potential. although at the moment think oillies are the better investment short term, but if cash in some of the profit in the near future will consider buying TCM again. But GLA.
Not sure why the Chinese just don't buy Telit and Laird plc and save the bother. Both companies have cutting edge IOT solutions with low valuations and already making profits.