Telit Communications

Press: 21.10.11: -23.00, (44.50) Press: Telit Communications fell after a profit warning, with the wireless components maker blaming contract... read more

Press: 21.10.11: -23.00, (44.50) Press: Telit Communications fell after a profit warning, with the wireless components maker blaming contract delays. ?We understand this relates to a few large value customers and the business is expected to return in 2012,? said house broker Investec, which downgraded to ?hold? awaiting more clarity. Source - Financial Times

Press: Telit Communications specialise in technology that allows machines to wirelessly communicate with each other. This is a growing market,... read more

Press: Telit Communications specialise in technology that allows machines to wirelessly communicate with each other. This is a growing market, boasting a strong outlook, not least because of legislative moves such as the EU push to have safety boxes in cars from 2015. The idea is to have the devices alert the emergency services in the event of a mishap. And the underlying technology is, well, right up Telit's street. Recent half yearly results showed good progress, with revenues rising by 36 per cent, and pre-tax profits climbing by nearly 90 per cent. Buy says the Independent.

08.09.10 :-2.5, (56.5) Telit Communications PLC said it expects advances in in-car technology to be a key driver of future sales. The... read more

08.09.10 :-2.5, (56.5) Telit Communications PLC said it expects advances in in-car technology to be a key driver of future sales. The firm?s chips can be installed into a car?s main computer to enable manufacturers to easily detect problems with the vehicle that a driver may not be aware of, as well as tracking things like the car?s exact position and the speed it is traveling at. The need for this kind of technology has been highlighted by a mass recall of cars this year by Toyota (TM), after drivers reported problems with things like the accelerator pedal and engine. "At the moment this kind of technology is mainly in more expensive luxury cars but we have a deal with Audi (NSU.XE) to put our chips in the A8 (model) and then we?ll continue working down the classes to the A1," Chief Executive Oozi Cats told Dow Jones Newswires. He said he expects Audi to become one of Telit?s biggest customers. The company has already struck a deal to provide GPRS modules to Fiat (FIATY) in Brazil, through its subsidiary Magneti Marelli. Telit also counts the likes of Renault and Nissan as clients.

the company swings to a full-year 2008 pretax profit from continuing operations of 1.2 million euros, against a loss of 1.3 million... read more

the company swings to a full-year 2008 pretax profit from continuing operations of 1.2 million euros, against a loss of 1.3 million euros. Seymour Pierce keeps its "buy" recommendation on the stock. "From the statement it would appear that trading conditions continue to be difficult, but we take heart from the outlook comments that suggest that with a growing market share the management is confident that the business will grow in 2009," says the broker in a note.