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Additional information
Additional Information
Market: AIM
Sector: Technology
Epic: TCM
News: Latest news
Web Site: Telit Communications
Other Articles: 09-02-201001-02-201020-01-2010

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Telit Communications

Telit Communications

Telit Communications (Wireless Solutions) is an internationally leading specialist in wireless machine-to-machine (M2M) technology. Telit is the only company worldwide to offer communications modules for all of the various wireless technologies: it develops, produces and markets modules for GSM/GPRS, UMTS/WEDGE/HSDPA, CDMA/EVDO and Short-Range RF applications. M2M applications rationalise business processes by enabling machines, equipment and vehicles to communicate with each other via mobile networks.

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Tuesday, February 09, 2010

Telit Communications expects 7% revenue growth for 2009, Astaire Secs sees return to profit in 2010

Ahead of its results for the year ended 31 December 2009, Telit Communications (AIM: TCM) said it in a brief trading update unaudited revenues for the twelve months will be approximately €63 million, up 7% on the previous year. The revenues are in line with market expectations.

In response to the statement, London-based stockbroker Astaire Securities stated that Telit has maintained its unit shipment and revenue growth during the period. Furthermore the wireless communications developer has continued to increase market share as previous design wins move into production, despite a challenging market, Astaire said.

Looking forward the broker believes that Telit is set to achieve accelerated growth in 2010, with more designs coming on stream and unit price deterioration slowing as a number of sectors come through with strong demand. In particular Astaire noted that smart metering and telematics sectors will drive growth. Additionally the note stated that performance will begin to see the benefits from the shift of manufacturing to China. Consequently Astaire expects Telit to return to profit in FY10.

Telit’s preliminary results are expected to be published on or about 2 March 2010.

Since the end of the period the company has reporte a number of developments. On the 19 January 2010, Telit’s next-generation GE865-QUAD module was the most recent M2M (Machine-2-Machine) module to be certified for use on the AT&T network in the United States. The module was the eighth Telit M2M module to be certified by AT&T, and it is one of the first Telit products to incorporate a next generation cellular chipset from Infineon.

On 1 February 2010, Telit announced that it entered a strategic collaboration with German fixed telephony provider Deutsche Telekom AG and its mobile telephony unit T-Mobile GmbH. The partners in the venture will be working closely together on sales and marketing in their target markets and plan to jointly develop innovative M2M products and services in the future.

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