Trading update

Telit Communications PLC

Trading update

London, 25 April 2017 - Telit Communications PLC ("Telit, "the Group", AIM: TCM), a global enabler of the Internet of Things (IoT), is today publishing a trading update for the period 1 January 2017 to 25 April 2017.

The Group has traded in line with the Board's expectations and remains on course to meet its expectations for double-digit revenue growth in the current financial year. 

The integration of the GainSpan acquisition (ultra-low power Wi-Fi) is on track and will positively contribute in 2018 to Telit's Device to Cloud end-to-end IoT solution strategy.

Oozi Cats, Group Chief Executive, commented:

"We have made good progress in line with our expectations at this early stage of the year.

"At the same time we continue to invest in our IoT services capabilities to support and enhance our notably strong growth in this division, which has continued from 2016.

"We are extremely encouraged by the broad industry recognition we are receiving from leaders in the Industial IoT market, in particular our deep collaboration with Cisco which includes placing deviceWISE into a Cisco factory IE4000 Switch. This is an excellent example of how our Industrial IoT services can be embedded in our customers' networks."

In addition, the Group's LTE Cat M1 module was the first to receive Verizon certification based on Qualcomm's chipset.

The Group also introduced the RE866A1-EU, its LoRaWAN™ protocol, Bluetooth low energy (BLE) IoT combo module.

The Group entered into a collaboration on a new Industrial IoT architecture with Yokogawa (Japan), a global leader in the process industry, automation and control, test and measurement, aviation and other business segments. This collaboration demonstrates the Group's ability to widen its end-to-end IoT solution capabilities into all types of enterprises.

The Group's factory solutions business continues getting traction. One of its existing automotive OEMs decided to continue to deploy deviceWISE in additional plants within North America.

In addition, a Tier 1 automotive customer decided to utilize deviceWISE across over 30 plants worldwide for real-time manufacturing data collection providing them with improved efficiency and productivity.

The Group's deviceWISE software was deployed into Cisco's IoT gateway for Industrial IoT. These highly-secure and ruggedized Industry 4.0 appliances provide edge intelligence for industrial asset management, condition-based monitoring, predictive maintenance and other mission-critical IoT applications across industrial markets around the world.

Telit and Cisco also engaged in a multi-faceted go-to-market collaboration that expands their market reach and readiness for their respective products and services.

The Group also entered into a collaboration with Freudenberg IT Group, a global full-service IT provider employing more than 40,000 people worldwide. The collaboration will focus on enabling business services and manufacturers to capitalise on all the benefits of Industry 4.0, using Telit's software platform technology and Industry 4.0 know-how.

The Group celebrated its 100th installation of its secureWISE software platform in a 300mm semiconductor fabrication plant, out of a total of 104 installations.

Currently Telit is managing 6,000 tools of the leading 20 semiconductors tooling manufacturers with an average value per tool of $30M.

Telit expects to publish its half-year results during the week commencing 7 August 2017.

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About Telit

Telit (TCM.L), is a global leader in Internet of Things (IoT) enablement. The company offers the industry's broadest portfolio of integrated products and services for end-to-end IoT deployments - including cellular communication modules in all technologies, GNSS, Wi-Fi, short-to-long range wireless modules, IoT connectivity plans and IoT platform services. Through the IoT Portal, Telit makes IoT onboarding easy, reduces risk, time to market, complexity and costs for asset tracking, remote monitoring and control, telematics, industrial automation and others, across many industries and vertical markets worldwide.

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