Telit posts H1 loss

Monday 7 August 2017 | 08:51 CET | News
Telit Communications reported revenues for the six months to 30 June up 6.9 percent to USD 177.6 million. IoT Services revenues increased 25.5 percent to USD 17.2 million. The gross margin decreased to 39.2 percent from 40.1 percent, and adjusted EBITDA dropped to USD 14.7 million from USD 21.4 million, reflecting increased investment in two recently acquired businesses, the company said, adding that such investment is expected to reduce from H2 2017 onwards. The loss before tax was USD 6.7 million compared to a profit of USD 4.7 million a year ago.

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Categories: Mobile & Wireless
Companies: Telit Communications
Countries: World
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