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Wireless

Telit lifts revenues, reduces debt in H1

Tuesday 4 September 2018 | 11:21 CET | News
Telit has come out with its results for the first half, confirming forecasts by reporting revenues of USD 201 million, supported by IoT Cloud and connectivity revenues up 16.2 percent to USD 16.5 million. The gross profit margin meanwhile reached 33.6 percent, off from the year before's 39.2 percent but up from the second half's 31.5 percent. The adjusted EBITDA however slipped to USD 12.5 million from 14.7 million year-on-year, affected by a USD 4.2 million reduction in capitalisation of development costs. Profit in cash improved to a loss of USD 5.7 million, against a loss the year earlier

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Categories: Mobile & Wireless
Countries: World
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