Less Ads, More Data, More Tools Register for FREE

Pin to quick picksTCM.L Regulatory News (TCM)

  • There is currently no data for TCM

Trading Statement

10 Oct 2013 07:00

RNS Number : 1583Q
Telit Communications PLC
10 October 2013
 



TELIT COMMUNICATIONS PLC

("Telit" or the "Company")

 

Trading Update for nine months ended 30 September 2013 and full year trading outlook

 

 

October 10, 2013 - The Board of Telit (AIM: TCM), a leading machine-to-machine wireless technology company, is pleased to provide a trading update for the nine months ended 30 September 2013.

 

Telit's revenues for the 3 months ended 30 September 2013 were $62.5 million (3 months 2012: $51.4 million), which represents a quarterly growth of 21.6%, compared to 2012. For the nine months ended 30 September 2013, revenues were $171 million (9 months 2012: $150 million), which represents a year on year growth of 14%.

 

The revenues for the nine months ended 30 September 2013 include, for the first time, $4.8 million from m2mAIR, Telit's Platform as a Service (PaaS), the Company's value added, connectivity and cloud platform services business unit. This business unit was empowered by the recent acquisition of ILS Technology LLC, leading provider of a ready-to-use, off-the-shelf, cloud platform to connect enterprise IT systems to m2m-connected devices and machines for business-critical use. This acquisition is anticipated to provide Telit with access to additional value added services and customers, granting Telit an even broader footprint in the m2m value chain. Telit's PaaS opens new opportunities to expand our services offering to small and medium m2m customers worldwide, widening our market advantage and will support Telit's recurring revenue strategy.

 

The Board continues to expect that trading for the full year 2013 will be in line with market expectations.

 

 

For further information:

Telit Communications PLC

Tel: +39 06 4204601

Oozi Cats, CEO

Yosi Fait, Finance Director

Canaccord Genuity Limited

Nominated Adviser

Simon Bridges

Peter Stewart

 

Tel: +44 20 7523 8000

Notes to editors

Telit is a global enabler of machine-to-machine (M2M) communications providing cellular, short range and positioning modules via its brand Telit Wireless Solutions. Through its business unit m2mAIR, Telit provides platform as a service (PaaS) including M2M managed and value added services, application enablement and connectivity including mobile network side and cloud backend services. Telit is M2M's top one-stop-shop offering synergistic hardware and value added services bundles along with low-entry cost PaaS for rapid application development. With over 12 years exclusively in M2M, the company constantly advances technology through seven R&D centers around the globe; marketing products and services in over 80 countries.

 

By supplying scalable products interchangeable across families, technologies and generations, rapid prototyping tools for application development, and m2m tailored connectivity, Telit is able to curb development costs, protect design investments and reduce technical risk. The company provides customer support and design-in assistance through 32 sales and support offices, a global distributor network of experts with over 30 competence centers, and the Telit Technical Support Forum.

 

Telit provides all products services and facilities to connect organizations to the Internet of Things (IoT) allowing them to wirelessly collect, process and respond to real-world data from connected devices, creating new efficiencies, revenue streams, societal and personal benefits.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTZMMGGLLLGFZM
Date   Source Headline
17th Oct 20189:22 amRNSDirector/PDMR Shareholding
15th Oct 20184:46 pmRNSHolding(s) in Company
15th Oct 20184:07 pmRNSHolding(s) in Company
12th Oct 20188:30 amRNSBoard changes
11th Oct 20187:00 amRNSChina Unicom agreement to provide IIoT solutions
5th Oct 20187:00 amRNSDirector/PDMR Shareholding
21st Sep 20187:00 amRNSBoard changes and shareholder requisition notice
7th Sep 201810:15 amRNSShareholder Requisition Notice
4th Sep 20187:00 amRNSInterim results - turnaround plan on course
31st Aug 201812:50 pmRNSHolding(s) in Company
24th Aug 20189:44 amRNSHolding(s) in Company
22nd Aug 20189:30 amRNSNotice of Results
20th Aug 201811:56 amRNSShare purchases by Paolo Dal Pino
14th Aug 201811:10 amRNSPaolo Dal Pino appointed Chairman
8th Aug 20184:54 pmRNSHolding(s) in Company
1st Aug 20188:51 amRNSBlock Listing Return
16th Jul 20182:26 pmRNSDirector Shareholdings
16th Jul 20182:08 pmRNSHolding(s) in Company
16th Jul 20189:23 amRNSDirector/PDMR Shareholding
13th Jul 20187:00 amRNSSale of automotive division for $105 million
12th Jul 20187:00 amRNSTelit and IBM accelerate global Industrial IoT
11th Jul 20187:00 amRNSHalf year trading update
9th Jul 20184:45 pmRNSBAMES update
6th Jul 20181:36 pmRNSHolding(s) in Company
4th Jul 20187:00 amRNSHolding(s) in Company
2nd Jul 20182:58 pmRNSHolding(s) in Company
29th Jun 20182:02 pmRNSHolding(s) in Company
25th Jun 201812:33 pmRNSResult of AGM
22nd Jun 20189:04 amRNSHolding(s) in Company
19th Jun 20188:13 amRNSHolding(s) in Company
18th Jun 201812:49 pmRNSHolding(s) in Company
15th Jun 20181:52 pmRNSHolding(s) in Company
13th Jun 20182:47 pmRNSBoard change
1st Jun 201810:00 amRNSPosting of Annual Report and Notice of AGM
24th May 20186:07 pmRNSHolding(s) in Company
23rd May 20188:33 amRNSHolding(s) in Company
22nd May 20187:00 amRNSHolding(s) in Company
14th May 20189:14 amRNSHolding(s) in Company
11th May 20181:59 pmRNSHolding(s) in Company
8th May 20187:00 amRNSHolding(s) in Company
2nd May 20189:03 amRNSHolding(s) in Company
1st May 20188:53 amRNSHolding(s) in Company
30th Apr 20187:00 amRNSFull year results
25th Apr 201811:19 amRNSHolding(s) in Company
24th Apr 20187:44 amRNSHolding(s) in Company
27th Mar 201810:57 amRNSCorrection: FCA investigation
27th Mar 201810:01 amRNSFCA investigation
23rd Mar 20185:03 pmRNSShare Buy Back and Cancellation
19th Mar 20187:00 amRNSUpdate on Italian VAT appeal
13th Mar 20187:00 amRNSBanking covenant and 2017 update

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.