Sign In
10 Jan 2012 07:00
10 January 2012
TELIT COMMUNICATIONS PLC
("Telit" or the "Company")
Trading update
Telit (AIM: TCM), the leading machine-to-machine wireless technology company, is pleased to announce a trading update ahead of its preliminary results for the year ended 31 December 2011.
The Company expects that unaudited revenues for the year ended 31 December 2011 will be approximately $177 million, an increase of approximately 34% above revenues for 2010 (2010: $131.7m). Net cash at 31 December 2011 is expected to be approximately $4.7* million (2010: net debt of $7.8m).
Telit expects to release its preliminary results for the year ended 31 December 2011 in the second half of March 2012.
* Excluding a government-subsidized mortgageof $4.6 million relating to the October 2011 acquisition of the premises of the Company's Italian subsidiary, for $7.7 million. Such premises constitute the Company's largest R&D center.
For further information please visit www.telit.com or contact:
Telit Communications PLC +39 06 420 4601
Oozi Cats, CEO
Oozicats@telit.com
Yariv Dafna, CFO
Yariv.dafna@telit
Yosi Fait, Finance director
Yosi.Fait@telit.com
Canaccord Genuity +44 20 7050 6500
Simon Bridges
Cameron Duncan
Follow the stocks
