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Wireless

Telit warns for lower FY EBITDA as it announces new CEO, cost reduction plan

Thursday 23 November 2017 | 08:59 CET | News
Telit Communications has appointed Yosi Fait its new CEO, with immediate effect. Fait became interim CEO for the group in August after revelations CEO Oozi Cats had withheld information about an indictment in the US. Telit also provided a trading update for the full year, saying adjusted EBITDA will be materially below guidance, on the back of higher-than-expected pressure on gross margins from the transition from 3G and CDMA towards LTE products. The group's board said it remains committed to simplifying the group's product lines and reducing its cost base, the benefits of which will be

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Categories: Mobile & Wireless
Companies: Telit Communications
Countries: World
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-/-13.1%
Vodafone underperforms with 13.1% annual revenue decline
Netherlands  |  2017Q3