Telit Communications sees slight earnings beat in year-to-date

Writer, Stock Market Wire
Tuesday, November 12, 2019 - 07:55

Internet of Things company investor Telit Communications said its underlying revenue had grown in the year-to-date, while adjusted earnings had been slightly ahead of its expectations.

The company said its revenue for the nine months through September, excluding the automotive business sold in February, had risen 7.8% to $274.5m.

Adjusted Ebitda and profit in cash had been slightly ahead of expectations, which the company said put it in a 'strong position to deliver against the board's expectations for the full year.'

Chief executive Paolo Dal Pino said Tellit's transformation into a more efficient organisation solely focused on industrial IoT products and services was 'well on track'.


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