13th Apr 2015 06:56
LONDON (Alliance News) - Machine-to-machine communications technology company Telit Communications PLC on Monday said it expects to meet market expectations for 2015.
In a short trading statement, the company said it expects revenue for first quarter of 2015 to be USD64.7 million, up 23% on the USD52.7 million posted a year earlier.
As a result, it expects its 2015 results to be in line with market expectations.
"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%," said Oozi Cats, Telit's chief executive.
"We continue to see robust performance from the automotive product line and the Platform as a Service. Both offerings are making good progress, and I expect they will widen our addressable market and increase our opportunities for growth in future years," Cats added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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