31st Jan 2008 07:01
Telit Communications PLC31 January 2008 Telit Communications PLC (the "Company" or "Telit") Trading Update Rome, Italy 31 January 2008: Telit Communications PLC, a global leader inmachine-to-machine (m2m) communications, advises that its results for H2 2007and for the full year are expected to be in line with market expectations.Trading in 2007 has been strong, with an increase of more than 70% in revenue.This is in line with the Company's compounded annual growth rate of 72% during2003-2006. This growth was achieved while margins continued to improve. Telitachieved for the first time a positive EBIT in H2 2007, as well as a positiveEBITDA for the full year. Trading in the current financial year is also in linewith market expectations. Mr Oozi Cats, Chief Executive of Telit Communications stated: "During 2007 the Company continued the expansion of its global footprint.Inaugurated in mid-2006, Telit Americas began making headway in the Americanmarket and has secured more than 80 design wins with new customers and, aspreviously announced, an order worth $10 million over a period of two years.Also last year, Telit Asia Pacific opened sales offices in China (Shenzhen andShanghai) and in Taiwan (Taipei) and secured more than 70 design wins in theregion." "2008 marks the beginning of an extremely exciting time for Telit. We achievedour goal of a break-even position at the operating level by the end of 2007, andare committed to continue providing the highest quality products to ourcustomers and return-on-investment to our investors. The success of our Americanand Asia Pacific operations as well as the continued strong trading in Europehighlights Telit's commitment to bringing our outstanding product base andexpertise to the global market. I look forward to presenting the preliminaryresults in February, and view prospects for 2008 with great confidence." Telit will report its results for the year ended 31 December 2007 on 26 February2008. About Telit Telit is a leading global wireless technology company. It develops, manufacturesand markets GSM/GPRS, UMTS/HSDPA and CDMA/EVDO enterprise communication modulesfor machine-to-machine (m2m) applications which streamline business processes byenabling machines, devices and vehicles to communicate via mobile networks.Telit's products are sold and deployed worldwide through offices in China,Denmark, France, Germany, Great Britain, Israel, Italy, Korea, Spain, Taiwan,and the USA. Telit Communications PLC is listed on the AIM (Ticker: TCM). Formore information about the company, please visit www.telit.com. For further information please contact: Telit Communications plcMaya Lustig, VP Investor Relations Tel: +972 (3) [email protected] Seymour Pierce LimitedStuart Lane Tel: +44 (0) 20 7107 8000 www.seymourpierce.com The Global Consulting GroupJonathan Shillington Tel: +44 (0) 7900 053 [email protected] http://www.hfgcg.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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