www.telit.com
Telit Wireless Solutions is a brand of Telit Communications PLC (AIM: TCM), an enabler of machine-to-machine (M2M) communications worldwide providing wireless module technology, M2M managed services and value added services, including connectivity. Exclusively dedicated to M2M with more than 12 years of experience in the market, the company constantly enhances its technology leadership with six R&D centers across the globe. Telit offers an extensive portfolio of the highest quality cellular, short-range RF, and GNSS modules, available in over 80 countries. By supplying scalable products that are interchangeable across families, technologies and generations, Telit is able to keep development costs low and protect customers' design investments. In addition, Telit is the only module provider in the market today to offer a value added services bundle including connectivity dedicated to simplifying the deployment of M2M applications.
Telit provides unmatched customer support and premier design-in expertise through its 25 sales and support offices, a global distributor network of wireless experts with more than 30 Telit-designated Competence Centers, and its online Telit Technical Support Forum.
Telit technology enables organizations to wirelessly collect, process and respond to real-time data from vending machines, utility meters, cars, remote health monitors and any other connected devices, creating new efficiencies and revenue opportunities as well as societal and personal benefits. Further information about Telit and its products can be found at www.telit.com. Join the conversation and learn more about Telit and its customers’ innovative applications on Facebook and Twitter.
Telit Communication chief Oozi Cats increases stake in company
Telit Communication’s (LON:TCM) today told investors that chief executive Oozi Cats has bought an additional 300,000 shares at 44 pence each, increasing his stake to 19.75 per cent of the company.
The transaction, which took place on Friday, may be taken by some investors as a vote of confidence from the Telit boss after the group warned of project delays on the same day.
On Friday Telit revealed that delays have had an impact on revenues and profits, which will now be lower than market expectations.
For the nine months to September 30 revenues were US$128.5 million, up 31 per cent on the same period last year.
But in a stock market statement issued this morning Telit said: “Whilst revenue for the final quarter of the year will be strong, the impact of a delay in the deployment of a few significant projects which were originally expected to take place during 2011 will mean that revenues for the year ending 31 December 2011 will be lower than current market expectations and profits will be significantly below current market expectations.”
Telit is a specialist in the field of wireless machine-to-machine communications (M2M). Put simply M2M enables one machine to talk to another machine via a wireless network.
Telit is the only pure play M2M company listed in London and one of the market’s big three players.
In March it completed the US$23 million acquisition of Motorola’s M2M business, which made it the largest pure-play specialist in this arena.
