30th Jun 2010 12:25
TELIT COMMUNICATIONS PLC
("Telit" or the "Company")
Result of Annual General Meeting and H1-2010 Revenues
Telit Communications plc (AIM: TCM), a global leader in machine-to-machine (M2M) communications, is pleased to announce that, at the Annual General Meeting held earlier today, all resolutions were duly passed by shareholders.
During the meeting Mr Oozi Cats, Chief Executive and chair of the meeting, made the following statement:
"Starting from 1 January 2010, the Company will be reporting its financial results in U.S. dollars due to changes in the mix of sales and purchase of components.
H1 2010 revenues are expected to be approximately US$56 million, representing strong growth of more than 50% over the same period in 2009. This growth came despite a shortage of certain components that is expected to be resolved in the second half.
The Company will report its H1 2010 financial results in September."
For further information please visit www.telit.com or contact:
Telit Communications Plc |
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Yariv Dafna, CFO Michael Galai, VP Legal & General Counsel |
Tel: +39 06 42046020 Tel: +972 3 791 4040 |
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Astaire Securities Plc, Nomad & Broker |
Tel: +44 20 7492 4775 |
Shane Gallwey Sebastian Wykeham |
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Related Shares:
TCM.L