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3 May 2013 07:00
TELIT COMMUNICATIONS PLC
("Telit" or the "Company")
Trading Update for three months ended 31 March 2013 and full year trading outlook
The Board of Telit (AIM: TCM) announces that its revenues for the three months ended 31 March 2013 were $49.5mln (3 months 2012: $42.3mln), a year on year growth of 17%.
The revenues in the first quarter include for the first time revenues of $1.2mln generated by m2mAIR, the Company's value added and connectivity services business unit, which launched its services in mid-2012. m2mAIR has so far secured over 550 customers, and in addition is conducting over 500 pilots with potential customers worldwide.
It remains relatively early, however the year has started well and the board expects that trading for 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
| Tel: +44 20 7523 8000 |
Notes to editors
Telit is a global leader of machine-to-machine (M2M) communications providing wireless module technology via its brand Telit Wireless Solutions, enhanced by managed and value added services, including connectivity via its business unit m2mAIR. Telit is dedicated to M2M communications for over 12 years and constantly advancing technological leadership from 6 R&D centers around the globe. Telit offers an extensive portfolio of quality cellular, short-range, and GNSS modules. By supplying business scalable products interchangeable across families, technologies, and generations, Telit is able to keep development costs low and uniquely protect customers' design investments.
Value added services from m2mAIR combine solutions for module, SIM, and subscription management with M2M connectivity, delivering business value through enhanced network performance, cost control, security, and troubleshooting. Addressing the critical element of cost-control in M2M integrations, m2mAIR offers an innovative business approach which transforms cost of connectivity into a bill-of-material (BOM) component.
Telit sells its products through a network of 27 sales offices and 59 distributors to more than 5,000 customers in 80 countries around the world.
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