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Wireless

Telit FY revenues seen up 11%, driven by IoT

Tuesday 10 January 2017 | 11:11 CET | News
M2M developer Telit has reported preliminary results for 2016, saying it expects revenues up 11 percent from the year before to USD 370 million, with IoT services jumping 35 percent to USD 35 million. Revenues for the second half rose 15 percent to USD 240 million. The gross margin for IoT services is seen at over 60 percent. Adjusted EBITDA and earnings per share are forecast in line with the guidance of USD 54-59 million and 26-30 cents, respectively.

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Categories: Mobile & Wireless
Countries: World
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