Telit guides for FY double-digit revenue, profit growth

Monday 8 August 2016 | 10:01 CET | News
M2M developer Telit said revenues for the first half rose 6.3 percent from the year before to USD 166.1 million, with IoT services revenues leaping 23.4 percent to USD 13.7 million. The company will recommend an interim dividend of 2.5 cents per share, against no dividend given in 2015, and is guiding for double-digit revenue and profit growth for the full year. For 2016, Revenues are seen up 11-17 percent to USD 370-390 million, with the adjusted EBITDA going 15-32 percent higher to USD 52-60 million, and adjusted basic EPS advancing 11-38 percent to 24-30 cents.

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Categories: Mobile & Wireless
Countries: World
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