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Trading Update

13 Apr 2015 07:00

RNS Number : 9654J
Telit Communications PLC
13 April 2015
 

TELIT COMMUNICATIONS PLC

("Telit" or the "Company")

 

Trading Update for three months ended 31 March 2015 -

 22.6% growth in revenues

 

 

April 13, 2015 - The Board of Telit (AIM: TCM), a global leader in machine-to-machine (m2m) communications, the chief enabler technology area for the Internet of Things (IoT), is pleased to provide a trading update for the three months ended 31 March 2015.

 

Telit's revenues for Q1 2015 were $64.6 million, an increase of 22.6% over the comparable period last year (Q1 2014: $52.7 million).

 

The Board expects that trading for the full year 2015 will be in-line with market expectations.

 

Oozi Cats, Chief Executive of Telit, said "I am pleased to report Telit has had a good three months. Full year revenues are expected to continue our strong growth rate of about 20%. We continue to see robust performance from the automotive product line and the Platform as a Service (PaaS). Both offerings are making good progress and I expect they will widen our addressable market and increase our opportunities for growth in future years".

For further information:

Telit Communications PLC

Tel: +39 06 4204601

Oozi Cats, CEO

Yosi Fait, Finance Director & President

 

 

Canaccord Genuity Limited

Nominated Adviser

Simon Bridges

Peter Stewart

 

Tel: +44 20 7523 8000

Notes to editors

Telit Communications PLC (AIM: TCM) is a global leader in machine-to-machine (M2M) devices, connectivity, value added and cloud services for the market space known as the Internet of Things (IoT). The company's product portfolio includes 2G, 3G, 4G cellular, short-range radio communication modules and positioning (GPS/GNSS) receivers. The Telit Automotive Solutions business unit markets products meeting strict Automotive OEM standards for the connected car mobility market. The m2mAIR business unit, markets value-added services in support of deploying and managing assets under mobile networks including connectivity. Through m2mAIR, the company also markets cloud and PaaS-model services enabling data management, application development, operational management with existing enterprise IT and back-end systems. The company has more than 12 years of sharp focus in M2M and the IoT. Originally a vendor of cellular modules, Telit is now a full-service provider of cellular, short-range wireless and GNSS modules, mobile connectivity, security and cloud-based management solutions. Telit innovates products and services from 8 R&D centres, sells and supports its products and services through a network of 35 sales offices and 60 distributors to more than 5,000 customers in 80 countries around the world. More information at www.telit.com. 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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