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9 Jul 2013 07:00
TELIT COMMUNICATIONS PLC
("Telit" or the "Company")
Trading Update for six months ended 30 June 2013 and full year trading outlook
The Board of Telit (AIM: TCM), a leading machine-to-machine wireless technology company, is pleased to provide a trading update ahead of its interim results for the six months ended 30 June 2013.
Telit expects that its revenues for the six months ended 30 June 2013 will be approximately $108.1mln (6 months 2012: $98.6mln), which would represent a year on year growth of 10 per cent, slightly above market expectations for H1 2013 ($107.5mln). Net debt at 30 June 2013 is expected to be approximately $8.6 million (31.12.2012: $12.7mln).
The revenues in the first six months are expected to include, for the first time, revenues of $2.4mln 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 600 customers and in addition is conducting over 570 pilots with potential customers worldwide.
The Board expects that trading for the full year 2013 will be in line with market expectations.
The Company expects to publish its full results for the first half of 2013 on 9 September 2013.
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 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 30 sales offices and 59 distributors to more than 5,000 customers in 80 countries around the world.
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