Sorry havent got much information on this one yet so if you are interested please please do your own research to compliment the information I have been given. Sorry just back from holiday.

I dont think techs are in fashion at the moment but this company could just have the contracts awaiting to be announced that could really put it on the map.

Citywire yesterday gave out this news....

Telit chief executive Oozi Cats told Citywire that the company should have a dramatic announcement with one of the worlds biggest companies in the next couple of weeks for its data product business, and another with one of the biggest mobile operators in Europe for its latest branded 3G phones.

Telit has two distinct divisions, both built on its know-how and expertise in mobile communications. The first supplies non-branded handsets to mobile phone operators and retailers. The second, the data products division, supplies a radio frequency GSM engine that enables machine-to-machine communication over mobile networks. ENDS.

Well its obviously very speculative but might be just worth a punt.

More information when I recieve it.

Please DYOR.

cheers Gf.

PS, its well below its placing price aswell.

The chart at the moment doesnt paint a pretty picture. But just look above and this could have a drammatic effect.

GF
A lot of info on this at the other place. Well worth a look but I can't find any numbers.

MS

Cheers Mickey. Will have a look.

GF.

Found the full article and lifted it from another board, makes for interesting reading.........


Citywire Tip: let's hear it for Telit

Published: 13:40 Monday 19 September 2005 By: Joanne Wallen, Associate Editor

The shine appears to be off small caps at the moment, but Telit has a couple of major announcements in the pipeline and very strong growth expected next year, so its share fall may provide a buying opportunity for the risk-friendly.

Shares (TCM) are off 14p at 90p, valuing the company at 38.9 million. The fall was no doubt encouraged by house broker Seymour Pierce, which has downgraded its expectations for one part of the business while still maintaining that the company is undervalued and its shares are a buy.

Telit announced a strong first half with 23% growth, better prospects still for the second half and potentially explosive growth next year.

Telit chief executive Oozi Cats told Citywire that the company should have a dramatic announcement with one of the worlds biggest companies in the next couple of weeks for its data product business, and another with one of the biggest mobile operators in Europe for its latest branded 3G phones.

Telit has two distinct divisions, both built on its know-how and expertise in mobile communications. The first supplies non-branded handsets to mobile phone operators and retailers. The second, the data products division, supplies a radio frequency GSM engine that enables machine-to-machine communication over mobile networks.

The mobile phone division is currently the cash cow of the business, but it is the data product division that should provide the more exciting growth in the coming 18 months. However it is here that Seymour Pierce has downgraded expectations set out at the time of the company's flotation earlier this year.

This business has had a couple of high profile wins that include signing a memorandum of understanding with the ECs eCall (emergency call) initiative, which is calling for all cars sold in the European Union to be fitted with an eCall black box by 2009 that will automatically call the emergency services in the event of an accident. The other is with Italys Fondazione Ugo Bordoni (FUB), a non profit organisation that is a subsidiary of the Italian Ministry of Communications. This deal is for Telits technology to power a new type of TV remote control aimed at assisting the move from analogue to digital television.

However Cats was keen to point out that while these are very significant deals for the future, the company has a large amount of business here today, and with significant growth commitments in the next six to 18 months.

For the first half to June, group turnover increased 23% to 36.6 million (24.6 million), with gross profits up 40% to 6.6 million. Operating losses and pre-tax losses fell by 45% to 1.2 million and 900,000 respectively.

The branded mobile business grew turnover by 31.5% and operating profits were lifted by more than 118%. The data products business increased sales by 7.3%, with operating losses down by 12%.

Cats expects the company to improve on the 23% growth in the second half, but next year should be dramatically different to this year. House broker Seymour Pierce has profits leaping from 1 million this year to 8 million in 2006, with earnings per share rising from 1.2p to 10p.

In the mobile business, the company has increased the number of suppliers it takes phones from (and then enhances them for the European market), to seven from three. It has also increased the number of different handsets from five to 12. Cats said the company will launch its new 3G phone before the end of this calendar year, which is a simple, low-cost 3G phone. He said the launch will be with a new European customer and will be a very big deal. The company already supplies the likes of Wind in Italy and Hollands KPN as well as a number of Israeli operators and Eplus in Germany.

In the data products business, there are now 500 customer sites designing Telits engine into their products.

Of these, many have already started producing products. Some examples include UK company Dione, which has already taken 20,000 units to go into its point of sale terminals and should take another 25,000 in the coming twelve months. An Italian gaming terminals maker has taken 7,000 units so far and has another 25,000 on order.

A number of fleet management systems makers are using the product and have significant volumes on order as does automotive black box maker Meta System, which is providing insurance companies with data from in-car black box systems, and will increase its order from 40,000 to up to 200,000 units this year alone. Other applications being sold include in-home surveillance and alarm systems and remote fuel monitoring for oil-fired central heating systems.

Seymour Pierce originally expected the division to sell 700,000 units or 'modules' this year and 1.5 million in 2006. It has now downgraded this to 200,000 this year and 700,000 in 2006. Accordingly, it has dropped revenue expectations to 96 million in 2005 as opposed to 113 million, reflecting modules revenue of 14 million compared to 31 million. For 2006, it forecasts modules to generate 30 million of revenue down from 58 million.

The broker has a sum of the parts valuation for the business of 68 million, and a buy recommendation, pointing out that larger rival Wavecom's shares have risen nearly 300% since Telit floated in April.

Citywire Verdict:
Shares are trading at 20 times the revised 2006 forecast earnings, and while there are always risks with technology companies, Telits core handset business is showing very strong growth and its newer data products business has some very real sales coming through.

It is difficult to predict the exact timing or value of these module deals, since a major customer such as is likely to be announced soon could take several hundred thousand modules, each of which is worth around 45 to Telit.

If Cats is right about growth running at more than 23% this year and a lot more than that next year, the share price should be justified, and those with an appetite for risk may still see this as an opportunity.ENDS.

cheers GF.
Im just waiting for these big contract wins. Could produce massive upside. Its a gamble but Ill risk it.

GF

Got this. The last paragraph I think is key. But I think the vews expressed were when the sp was higher. Can't make up my mind on this one. The ipo was 140 and now 93 so any good news should push it up. I think the price of 140 was too much.

Telit Communications - Overvalued

Background: Israeli based Telit Communications, calls itself a 'global developer of wireless communication technology'. The company was established in 2000 and has a strong trading history to support its decision to list on AIM. Following a fundraising bringing in close to 23 million at 140p, Telit will begin trading on 4th April. The entire share capital will be valued at 60.5 million.

Operations: From the highly complicated pathfinder document Telit Communications develops highly advanced mobile telephone technology. The company has two offices in Israel and Italy and two operating divisions - one that designs and develops cellular communications products for the m2m market (the glossary tells us this means 'machine to machine and is currently a high growth market) and the second division customises and distributes mobile phone handsets under the Telit brand.

'Dai Israel' (the Israeli division of the group) was originally established in 2000 by Polar Investments, which will continue to retain a majority stake on floatation. Dai Israel specialises in sourcing handsets, rebranding them to customer specifications and selling them in Israel. By 2004, this division had taken over 12% of the entire Israeli mobile handset market. The success in the Israeli market made the company strengthen its growth strategy and consider Italy as the next market place to conquer. Dai Italy was formed soon after to take over the operations of a local brand - Telit. The Italian company's operations date back to 1986 and for the last 15 years it has been developing wireless network technologies. Dai Italy claims stake to significant intellectual property in the form of patents.

Following the takeover of Dai Italy, the company executed extensive reorganisation, cutting down the number of staff from 312 to 140 and changing the focus to rebranding and reselling mobile handsets.

Going back to understanding the complicated technology that forms a main part of the Telit business, the Data Products Division is looking to cater to the m2m market. m2m allows for machine to machine communication without human interference and Telit has settled on this sector for various reasons. Statistics show that the market is growing by 47% annually in terms of units sold. In 2004, five large players accounted for 40% of the market with smaller companies struggling for the rest. Telit currently owns 1.5% which brings in revenues of EUR 75 million and is looking to build this to a 5% market share globally. The company's focus within the m2m market (which gives an indication of the application of this mysterious technology) is digital and satellite set top boxes, automated meter reading, vehicle security alarms and point of sale technology.

The Branded Enhanced Value Added Reseller division (essentially one that sources phones from Korea and Taiwan and rebrands them to sell in Italy in Israel) is looking to capitalise on growth in the use of non-branded phones - estimated to increase from 15.9% in 2003 to 30% in 2004.

Distribution channels for all products have been established through value add distributors (accounting for 74% of sales) and the company depends on its sales and marketing teams based in Israel and Italy. From the pathfinder prospectus, it seems like the company has managed to push its productions into countries as far as China, France, Germany, Brazil and Romania.

Apart from its many operations, the company invests a great deal in intellectual property development and believes its patents to have significant commercial value. Although thankfully, intangible assets on the balance sheet is valued at only EUR 86,000.

The most recent set of results are not particularly a reflection of the company's revenue earning capabilities as a third party loan write off (on acquisition) brought pre-tax profits upto EUR 9.7 million on a turnover of EUR 75.3 million (Year end to 31 December 2004). Operating losses, excluding the loan write off worth nearly EUR 12 million came in at EUR 1.7 million.

Business Development: As with all new companies listing, Telit believes it is the right time to pursue an AIM listing. A floatation will enhance the profile of the group among its peers, and its customers, which the board believes will have a positive impact on revenues. Funds raised will be used towards strengthening marketing, research and development.

Management: Oozi Cats, CEO and founder of the company has 18 years of creating leading business ventures. He is also responsible for forming Auto Depots, the Israeli mass merchandising chain for vehicle supplies. Yitzhal Apeloig, Chairman, was the CEO of Polar Infrastructure Ltd. and has served as financial officer and vice president of NASDAQ traded Magal Security Systems. David Hobley and Andrea Mandel Mantello are non-executive directors on the board.

Investment Conclusion: The technology sounds like it has potential. The company seems to be operating at a level where it claims to have significant market share to build on the existing brand, the management are cost conscious and this shows in the number of jobs axed at Dai Italy. Intellectual property, which should have commercial potential is valued prudently at EUR 86,000. These are some of the positive signs to investing in m2m technology developing Telit. But as always, the potential seems to be valued on a high multiple of hope and the technology seems worryingly complex - how many investors really understand this company fully?. Ignoring the one off cancellation of a loan, the company continues to have borrowings of nearly EUR 28 million and is loss making at the operating level. 60.5 million at 140p seems a high price to pay for Telit. If you believe in the story, this might be one to revisit if the share price drops. On fundamentals, the company seems overvalued.

Contact details: Seymour Pierce - 02071078000

Hi GF, been reading up about this one looks quite promising. Nice to see the director topping up the other day and Polar increasing their stake in the company, have you brought in yet?

Bought Quite a few Blackbelt. Its started to move upwards today and Im awaiting news on these two fantastic contracts.

cheers Gf.

joined you with a few of these mr finger....looks like a solid outfit not taken many but will add if the chart starts to look a bit better

Welcome aboard TW.

cheers Gf.

From the other place.

CURRYPASTY - 29 Sep'05 - 07:48 - 42 of 43


RNS Number:9226R
Telit Communications PLC
29 September 2005



Press Release 29 September 2005

Telit Communications plc

("Telit" or "the Company")

Telit wins contract with a leading global IT systems integrator

Telit Communications plc (AIM:TCM), the global wireless communications developer
and distributor, announces that it has signed a contract with one of the world's
leading IT solution providers to develop GPRS modules for the European roll-out
of a new Automatic Meter Reading ("AMR") project.

Under the terms of the contract, Telit will lead the research and development
("R&D") of a GPRS based communications solution as part of an AMR project. The
Telit designed AMR solution allows for automated meter readings whereby energy
providers will be able to read their customers' electricity and gas meters
through M2M ("machine to machine") wireless communication. Telit's GPRS modules
will be integrated into electricity meters in households in Europe as part of
the AMR rollout within the utility sector.

Due to the extensive R&D necessary for the project, Telit's patented module will
be an integral part of the design and functionality of the AMR device.

Oozi Cats, Chief Executive of Telit, commented, "Telit's data products division
is at the forefront of innovation in this exciting and lucrative sector. This
agreement with one of the world's leading system integrators further emphasises
the need for m2m GPRS products and we are proud to have been selected as the
major supplier for this important project.

"This project gives good visibility for our future earnings. We are confident
that over the next four years this contract will give rise to significant
revenues in its early stages with further significant revenues thereafter. I
look forward to updating shareholders on this project in the near future."

I wonder who it is then?. I see a big buy of 25 ,000 as gone through.

So Mr Cat is going to update in the near future. Wondering wether to buy some more now.

cheers GF.

cross trade showing looks a bit strange

and wee tick up follows

Was just thinking that myself. I thought they were supposed to change hands in one transaction at the same price. Can anyone help here?.

cheers Gf.

Moving up niceley and still way below its placing price. News on another large contact due anytime.

cheers GF.

nice solid day.....lots of room above 118

Now above a quid. NICE.

cheers GF.

WOW look at this..........................

30-Sep-05 Telit Communications TCM Cats, Oozi 500,000 @ 110.00p 550,000
30-Sep-05 Telit Communications TCM Cats, Oozi 37,500 @ 96.00p
A director putting his own money behind the company.

Must say though Id rather a Jack Smith or a Joe Brown was running the company. These fancy yuppy names tend to put me off.

cheers GF.

nice couple od days on this one....chart looking healthier too however would be delighted if it could clear the 120 mark

Im sure it will TW and in fairly quick time.

cheers GF.

Any chance that 34.5p is the bottom for TCM, following the recent director purchase?

Wow! Up 25% today. Does anyone know why?

Much wider losses announced but break-even expected by the end of this year led to a 25% hike today!

Another good day and finally through the price I bought in at - phew!

Telit Communications PLC said an investment consortium led by its chief executive, Oozi Cats, has agreed to buy 12 mln shares, or 27.77 pct of the voting share capital, in the company from Polar Investments Ltd at 0.64 eur per share.

BOOSTT, which includes a group of Italian investors led by former Telecom Italia chief executive Franco Bernabe, said it plans to nominate Chicco Testa, a director of Telit's Italian subsidiary, as Telit's chairman.

After the deal is closed, expected on May 3, BOOSTT will have first refusal to buy up to another 19.9 pct of Telit held by Polar -- which still holds a 25.4 pct stake -- should it decide to sell.

In addition, Polar has agreed not to purchase further shares in Telit if it would result in BOOSTT not being the largest shareholder in the company.

Q1, this comapny appears t be making the right noises.

Any news on that Seymour Pierce "buy" recommendation that was published after the results came out? It would be interesting to see what the price target was.

No ST but I think initially back to the 70p level is achievable. Who knows after that?

We're cooking again today soul traders :-)

media comment, click HERE

One perhaps to watch - IC - 2013 price/earnings (PE) multiple of 14.6, falling below 10 next year, could be seen as a bargain for a company with increasingly reliable earnings and the potential to dominate an estimated $1.7 billion industry

Trading Update

RNS


RNS Number : 9102D

Telit Communications PLC

03 May 2013


The Board of Telit (AIM: TCM) announces that its revenues for the three months ended 31 March 2013 were $49.5mln (3 months 2012: $42.3mln), a year on year growth of 17%.



The revenues in the first quarter include for the first time revenues of $1.2mln generated by m2mAIR, the Company's value added and connectivity services business unit, which launched its services in mid-2012. m2mAIR has so far secured over 550 customers, and in addition is conducting over 500 pilots with potential customers worldwide.



It remains relatively early, however the year has started well and the board expects that trading for 2013 will be in line with market expectations.


http://www.moneyam.com/action/news/showArticle?id=4588120

Telit Communications "significantly undervalued" versus peers
By John Harrington June 28 2013, 2:47pm 'The significant boost in R&D funding should further Telit's technological lead and competitive position in the M2M market, in particular the development of Galileo, as well as GPS, compatible products for the automotive market,' the broker said."The significant boost in R&D funding should further Telit's technological lead and competitive position in the M2M market, in particular the development of Galileo, as well as GPS, compatible products for the automotive market," the broker said.

The research grant bagged by Telit Communications (LON:TCM) earlier this week should enable the company to extend its technological lead in the machine-to-machine (M2M) market, Canaccord Genuity asserts.

The money will also free up cash for Telit to spend on business development and acquisitions.

“We estimate most of the P&L benefit will be recognised in FY13 given 26 months of the project will have taken place. The remaining 10 months should be recognised in FY14. Therefore, the impact of the US$4.4mln grant should be US$3.2mln in FY13 and US$1.2m in FY14,” the broker said.

Having plugged the numbers into their spreadsheet, and making the assumption that a quarter of the grant affects research & development (R&D) and the rest affects capitalised development costs, analysts Bob Liao and Jonathan Imlah have nudged up their underling earnings (EBITDA) estimates for the current financial year (FY) by US$0.8mln (+3%), while the FY 2014 forecast gets a US$0.3mln (+1%) bump.

“We forecast a delayed impact on net cash, assuming funding occurs six months after recognition. As a result, we leave our FY13 net debt forecast unchanged but increase FY14 net debt by US$3.2mln to US$1.4mln net cash and FY15 net cash by US$4.4mln to US$17.9mln,” the pair said, adding that it is too soon to know what changes to make to interest payment savings.

The broker rates Telit a ‘buy’ with a price target of 117p, and says the stock is “significantly undervalued”, trading on a lower price/earnings ratio (PER) than its peers, despite delivering strong growth.

Telit’s PER, based on Canaccord Genuity’s FY14 forecasts is 8.5, versus 15 for Sierra Wireless and for Digi International, and 14 for Calamp.

Elsewhere, broker Canaccord looked at Telit Communications' (LON:TCM) trading update today, which said first half revenues would come in slightly better than the market expects.

The broker noted cash generation was particularly strong in the first half and the cash conversion very encouraging, easing some of the worries aired by investors in 2012.

The broker said there was also good revenue growth at connectivity arm m2mAIR and it has raised this year’s revenue forecast at the subsidiary to $5.5mln from $4.0mln though the total revenue forecast is unchanged.


http://www.proactiveinvestors.co.uk/columns/broker-spotlight/13493/broker-roundup-pt-2-including-ferrex-telit-communications-and-condor-gold-13493.html

Telit driving the march of the machines
By John Harrington August 23 2013, 2:00pm Broker Canaccord Genuity rates Telit shares a 'buy' with a 117p target price. 'Telit trades with a FY14 P/E below its peers despite delivering strong: Sierra Wireless (15x), Calamp (14x) and Digi International (15x),' the broker said.Broker Canaccord Genuity rates Telit shares a 'buy' with a 117p target price. "Telit trades with a FY14 P/E below its peers despite delivering strong: Sierra Wireless (15x), Calamp (14x) and Digi International (15x)," the broker said.

A quick scan of previous articles by Proactive Investors on Telit Communications (LON:TCM) reveals numerous variations on the phrase “exceeds expectations”.

The company’s ability to keep surpassing market forecasts partly reflects the sector it is in - the high growth cellular machine-to-machine (M2M) market - but is also a testament to Telit’s ability to grab market share in a competitive market.

From owning just 6% or so of the global market in M2M modules shipments in 2007, the company’s share in 2011 had risen to 20.1%, according to IMS Research.

Telit’s chief executive officer, Oozi Cats, meanwhile, says that the company is the biggest industrial M2M provider in the world, with more customers – over 5,000 at the last count - than any of its competitors.

Telit is the industry’s only pure-play M2M company, and Cats thinks that the company’s focus on just the one sector has enabled it to out-perform its rivals.

Although the company is regarded as a technology stock, with a foot in both the software and hardware camps, it is also a services company, one that is skilled in providing a bespoke product to its customers.

With many projects typically taking three years, during which the company works hand-in-glove with its customers on new solutions, the company is well-placed to see how industry trends are developing.

“I would say that 3G will deploy massively until 2018, then we will see 4G taking the lead,” Cats predicts.

3G, which stands for “third generation”, is a set of standards for mobile telecommunication devices, and 4G is its successor.

Cats thinks the big rise in deployment of 4G will be in 2015/16, “and will become massive in 2018, and will stay massive at least until 2023”.

That sort of clearly defined roadmap is a boon to Telit’s research & development boffins, who currently number around 260, spread around six centres across the globe.

The company also has 30 sales offices and 59 exclusive distributors, covering 80 countries worldwide, enabling the company to provide the sort of on-site technical support, and hardware & software design support, that are important differentiators in Telit’s proposition.

As Cats observes, being truly global is a necessity for the sort of multi-national customer that has its headquarters in one place, its R&D facility in another and its manufacturing capability in several other places.

While Telit’s customers are based all around the world, so are the markets they sell into, and those customers rely on Telit’s expertise in different jurisdictions to ensure they do not fall foul of local rules and regulations.

All of which creates a significant barrier to entry for potential competitors. “This is not box shifting,” Cats states.

At the same time, existing competitors seem to be struggling to match the level of hand-holding and cooperation that Telit provides.

“We have better product management [than the competition]. Then, we have better operations; we have to procure very efficiently. We have better sales and marketing; our sales team offers better service. We have to, because this is all about long-term service to enable customers to go to market [with their products],” Cats declares.

“I don’t want to say we have a bulletproof system, but it’s not that far from that,” Cats believes.

As the company plays such an integral part in enabling customers to get their products to market, it becomes entrenched in the design and development process of those customers, which is wonderful for Telit in terms of repeat business.

That gives it a strong base from which to grow, and Telit has not been slow in doing so. Shipments between 2007 and 2012 grew at a compound annual rate of 71%, which means the company has set the bar very high in terms of growth rates.

As we have seen, however, Telit has a track record of exceeding expectations.

Interim Result
09 Sep 13 Telit Communications PLC [TCM]

Telit Communications: Broker says logic of US$8.5mln takeover is "compelling"
By Ian Lyall September 05 2013, 2:53pm Canaccord believes the snug fit between the two companies means there will be cross-selling opportunities.Canaccord believes the snug fit between the two companies means there will be cross-selling opportunities.

The broker Canaccord has described the logic of Telit’s (LON:TCM) US$8.5mln takeover of ILS Technologies (ILST) as “compelling”.

Restating its ‘buy’ advice and 116p a share price target, it added: “ILST allows Telit to provide a differentiated, end-to-end solution, comprising machine-to-machine devices, connectivity and back-end services, including data management, reporting, monitoring, remote access and integration. We believe ILST is an ideal complement to Telit’s existing product offering.”

Telit has developed the technology that allows machines to talk to one another, while ILST’s cloud-based platform connects IT systems to these m2m (machine-to-machine) enabled devices.

Canaccord believes the snug fit between the two companies means there will be cross-selling opportunities.

In a note to clients, it added: “The solution is also highly complementary with Telit’s customer base.

“We believe a turnkey solution should be particularly attractive to Telit’s large base of SME customers that have limited resources to deliver and manage m2m services themselves.

“The acquisition increases our confidence in Telit’s competitive position and long term growth. ILST is well regarded within the industry and has leading edge technology supported by years of investment.”

Outside of the retail sector, machine-to-machine (M2M) wireless technology player Telit Communications releases interims on Monday.

The first half of the year will include the first substantial revenues from the company’s m2mAir division, Northland Capital Partners notes. M2mAir is Telit’s value added and services business unit that was launched in mid-2012.

“This unit will boost Telit’s recurring revenue and increase visibility,” Oriel said. “We will also be looking for an update on September’s acquisition of ILS Technology, a provider of a cloud platform to connect IT systems to m2m-connected devices. This has expanded the m2mAir offering,” the broker added



http://www.proactiveinvestors.co.uk/companies/market_reports/60833/week-ahead-retailers-take-centre-stage-0000.html

Half Yearly Report

Financial highlights:

Ø Revenue increased by 10% to $108.5 million (H1 2012: $98.6 million)

For the first time the company generated recurring revenues from its m2mAIR value added and connectivity business unit of $2.4 million (H1 2012: $nil)

Ø Gross margin increased from 37.1% in full year 2012 to 37.6% in H1 2013.

Ø Operating profit increased by 100% to $6.4 million (H1 2012: $3.2 million)

Ø Adjusted EBITDA increased by 17.6% to $10.0 million (9.2% margin) (H1 2012: $8.5 million, (8.6% margin)

Ø PBT increased by 107.4% to $5.6 million (H1 2012: $2.7 million)

Ø Net profit increased by 147.8% to $5.7 million (H1 2012: $2.3 million)

Ø Net cash flow from operating activities increased by 34.9% to $11.2 million (H1 2012: $8.3 million)

Ø Net debt at 30.6.2013 was $8.1 million in comparison to $12.7 million at 31.12.2012 a decrease of $4.6 million

Ø Earnings per share increased by 154.5% to 5.6 cents (H1 2012: 2.2 cents)





Operational highlights:

· H1 2013 results saw significant investment in sales and marketing expenses (H1 2013: $18.3 million; H1 2012: $13.8 million) including the m2mAIR business unit and the integration of CrossBridge Solutions Inc. that was acquired on the last day of 2012. Despite these investments the company improved each and every financial parameter including: EBIT, PBT, adjusted EBITDA and cash flow from operational activities

· The integration of CrossBridge, and its engineering and sales staff, will allow us to expand the Telit m2mAIR business unit, in particular providing connectivity into North America markets. Telit m2mair, the Company's value added and connectivity services business unit, which launched its services in mid-2012 has so far secured over 600 customers and is conducting over 570 pilots with potential customers worldwide. This strategic move will enable the Company to add a layer of recurring revenues to its business model.

· Telit has been granted by decree a US$44 million facility supported by the Italian MISE (Ministry of Economic Development) to develop an innovative platform for the application of M2M technologies. Of the US$44 million, 10% is to be provided as a grant by the Italian government, 81% is to be made available as a loan by Cassa Depositi e Prestiti, a joint stock company under public control in Italy, with a preferred interest rate of 0.5% per annum, and 9% is a loan issued directly by a financial institution. The company expects to receive about $19 million from this facility in H2 2013.

· Telit continues the investments in development of 4G LTE modules designed for use in the most demanding automotive and industrial m2m applications.




http://www.moneyam.com/action/news/showArticle?id=4664601

UPDATE - Telit Communications sees improving outlook
By John Harrington September 09 2013, 1:00pm 'We look forward to continuing to grow our revenue and gain market share while maintaining existing margins and improving profitability,' said CEO, Oozi Cats."We look forward to continuing to grow our revenue and gain market share while maintaining existing margins and improving profitability," said CEO, Oozi Cats.



---ADDS BROKER COMMENT AND UPDATES SHARE PRICE COMMENT---

Machine-to-machine (M2M) wireless technology specialist Telit Communications (LON:TCM) saw an improvement in all of its key performance indicators in the first half of 2013.

Underlying earnings (EBIT & EBITDA), profit before tax and cash flow from operational activities all moved in the right direction during a period in which the company splashed the cash on sales and marketing initiatives.

Revenue rose by 10% to US$108.5mln from US$98.6mln the year before, helped by a first time contribution of US$2.4mln from m2mAIR, its value-added and connectivity business unit, which the company is looking to provide a recurring revenue stream to supplement its established module business.

Telit’s dependency on major customers continues to be low by industry standards, with the top 10 customers contributing 33% of total revenues in the period, though this was up from 30% in the corresponding period of 2012.

Adjusted EBITDA climbed 17.6% to US$10.0mln from US$8.5mln the year before, with the EBITDA margin hardening to 9.2% from 8.6%.

Profit before tax more than doubled to US$5.6mln from US$2.7mln a year earlier, while net debt came down to US$8.1mln from US$12.7mln at the end of June 2012, despite the company whacking up sales and marketing spend by US$4.5mln to US$18.3mln.

Net cash flow from operating activities increased by 34.9% to US$11.2 million from US$8.3 million in the first half of 2012.

“The outlook for the rest of 2013 remains positive for Telit, and we expect to continue our growth,” said chief executive officer, Oozi Cats.

“The company has started H2 strongly and we are confident of meeting our expectations for the full year. We believe we are well positioned to benefit from key trends in the technology market and will look to leverage our strong position to further increase market share in 2013 and beyond. We will continue to review expansion opportunities, both organic and through potential acquisitions, to maintain momentum and continue to expand activities within the m2m value chain,” he added.

House broker Canaccord Genuity said: “We believe Telit is seeing early signs of improving performance across multiple fronts.”

“Telit has restructured its management and product portfolio over the past year and expects these changes to begin delivering returns in H2 FY13,” the broker reported.

Canaccord Genuity notes gross margins increased from 46.4% in the second half of fiscal 2012 to 37.6% in the first half of this year, reversing a multi-year trend and making the broker’s forecasts for no margin growth this year and little growth next year look conservative.

“Telit’s cash conversion may also be higher than forecast,” the broker said, after free cash flow (FCF) hit record levels in the first half of this year.

“Telit plans to rebuild inventory to support future growth but we believe the company’s expanding scale could drive stronger FCF than we forecast,” the broker noted.

The broker has reiterated its ‘buy’ recommendation and stuck with its 117p target price.

Shares rose 3.5% to 89.02p shortly after the announcement of the results and were up 7.6% at 92.5p in early afternoon trading.

up 7%

:-))

Great little move today
got in Friday at 115 so very pleased
article in Shares mag helped

Great share.

19/06/2014 BUY Oozi Cats CEO 64,802
13/06/2014 BUY Oozi Cats CEO 100,000
18/05/2014 BUY Enrico Testa CH 7,900

StockMarketWire.com
Telit Communications expects H1 revenues will be about $156.2m, an increase of 13.2% over the comparable period last year.

Revenues are expected to include $11.1 million (H1 2014: $9.2 million) generated from the Company's IoT Platform as a Service (PaaS) through its services division, which represents 20.6% year-over-year growth.

Net cash/debt as of June 30, 2015 is expected to be approximately zero (Nil) (December 31, 2014: net debt of $3.9 million).

Additionally, the Board is pleased to provide, for the first time, guidance for the full trading year of 2015, as follows:

· Revenues: $347m-$354m

· Adjusted EBITDA: $42m-$47m

From III
Can Telit Communications recover from 44% crash? -Lee Wild | 7th August 2017

Investing successfully in Telit Communications (TCM) has always been about timing. Traders who got it right cleaned up, but holding too long was always the risk. And owning Telit over the weekend would have been expensive after the AIM techie today admitted it swung to a half-year loss and scrapped the dividend.

Brave investors could have snapped up Telit for around 8p a share in early 2009. They hit 357p in 2015 before peaking at 379p on 1 May this year. A few days later the company could only get a £39 million share placing (for acquisitions) away at 340p, and it's been downhill ever since.

Monday's 44% crash had them at just 143.25p briefly, extending the dive from its high to as much as 62%.

Revenue at Telit, whose technology connects machines to the internet via both cellular and short-range networks, grew by almost 7% in the first six months of 2017 to nearly $178 million (£136 million).

However, heavy investment in acquisitions at company, which this year received the first purchase order from Tesla (TSLA) for all Model 3 cars, wiped almost a third off adjusted cash profit to $14.7 million.

Buying Stollmann in 2016 and GainSpan this year triggered a surge in spend on both research & development and marketing, causing a plunge from $4.7 million pre-tax profit a year ago to a loss of $6.7 million this time.

We're told it will splash out less on R&D and marketing as a percentage of revenue both in the second half and in 2018. Telit's top line is also typically weighted to the second half of the year, so one would normally expect a pick-up over the next few months.

"Overall, we remain confident of a strong second half performance," writes long-serving chief executive Oozi Cats, who currently owns 12.6% of the business.

However, the gap will be far more dramatic this year, and that's a worry for investors.

There were also supplier delays in obtaining US certifications for so-called Long-Term Evolution (LTE) - a standard for high-speed wireless communication - products. Again, these should be received in "the coming weeks" and drive sales in the second half, but traders are cautious.

And it's easy to understand that nervousness given the wide range of profit outcomes indicated by latest company guidance.

Expect an increase in full-year revenue to $400-$430 million versus $370 million in 2016, says Telit. But adjusted cash profit could be anywhere between $47 million and $60 million - as much as down 13% or up 10% - compared with $54.4 million a year ago. We'll see.

Of course, a spectacular price plunge like this inevitably attracts bargain hunters. And, by lunchtime, Telit shares had bounced off their 143p low to trade at 176p, a gain of over 20%.

We've seen Telit shares recover sharply from setbacks before and, as always, the trick is to identify whether these are just one-off events, or if there's a deeper problem lurking somewhere here.

First impressions are that it's the former, but markets don't take shocks like this well, and there's a repair job to be done at Telit. To help, the company has brought in finnCap as nominated advisor and joint broker. If history is any indicator, new brokers are keen to publish their thoughts, which typically focus on the positives.

It's also worth noting here that finance director Yosi Fait last month exercised 500,000 share options at 206p, selling the resulting 173,567 shares plus another 315,000 at an average price of 310p. That's what I call good timing.

Watch to see if he and other directors are as keen to buy now that the shares are considerably cheaper.

Some charts to follow the next days

--

Further bad news .........

Telit CEO takes leave of absence pending investigation
At 9:53am: (LON:TCM) Telit Communications PLC share price was -65.125p at 117.125p

Telit Communications' chief executive Oozi Cats has taken a leave of absence after speculation rose about his historical indictments in the US.

The company said the matters are unrelated to Telit and significantly pre-date its establishment.

Telit has appointed independent solicitors to review the matter.

Yosi Fait, finance director and president, will serve as interim CEO.

more................

Telit: CEO Cats takes leave of absence after US indictment emerges

** Telit CEO Oozi Cats has taken a leave of absence after it emerged he was indicted for a mortgage fraud in the US in the 1990s

** Israeli Cats was accused by a Boston court in 1992 of being part of a "land flip" scheme that bought and sold properties at grossly inflated prices in order to take out fraudulent mortgages, court documents seen by Reuters show

** An arrest warrant for Cats was issued under an alternative translation of his name, Uzi Katz, but the CEO was never detained

** The case against Cats was dismissed in 2006, according to the documents

** In a statement Telit said it had appointed independent solicitors to review the case, but said it was unconnected to the company's operations

** Its shares were down 23 pct following the news on Wednesday

** Cats is also under investigation by Italian authorities over his role in the collapse of Italian electronics manufacturer BAMES

** Telit has been a target of short-sellers, who have questioned the company's profitability and management

** Four long-term shorts have been joined in recent days by two US funds, Leucadia and Wellington, according to regulatory filings. At 13.3 pct, short positions hit an all-time high on Tuesday, making the company by far the most shorted stock on London's AIM index

** Telit's shares fell by a third on Monday after the company reported a shock loss for the first half of the year

Bought a few of these @ 124.5p

and more .........

LONDON, Aug 9 (Reuters) - The chief executive of technology
firm Telit has taken a leave of absence after the
London-listed company said it had discovered he had been
indicted in the United States 25 years ago over an alleged
mortgage fraud.

Telit said in a regulatory statement on Wednesday that it
had been made aware of the indictment against CEO Oozi Cats,
which was later dismissed, and had appointed a law firm to
review the matter, which it said was "unrelated to Telit and
significantly pre-date(s) its establishment".

Cats, who could not immediately be contacted on Wednesday,
was alleged in a Boston federal court in 1992 to have been
involved in a "land flip" scheme that bought and sold properties
at inflated prices in order to take out fraudulent mortgages,
copies of court documents reviewed by Reuters show.
An arrest warrant for Cats was issued under an alternative
spelling of his name, Uzi Katz, but he was never detained,
according to the court documents.

Although the case against Cats was dismissed in 2006, it was
not mentioned in the company's prospectus when it listed on
London's Alternative Investment Market (AIM) in 2005.
Telit gave no further detail, but a source close to the
company said its inquiry will focus on whether Cats' past had
been adequately disclosed to the board and investors. It is
expected to conclude within the next few weeks.

Shares in Telit fell by as much as 45 percent on Wednesday,
taking its losses for the week to 60 percent after the company
posted a shock interim loss on Monday. [nL5N1KT1A4]
Telit, whose products and services connect devices to apps
and enterprise systems, was until recently one of the largest
stocks on AIM and has a number of high profile shareholders,
including Norway's state pension fund Norges Bank Investment
Management and Allianz Global Investors.

It has also secured tens of millions of euros in
low-interest loans and grants from the Italian ministry for
economic development to run research facilities in the country,
according to Telit's latest annual report.

But Telit has also seen elevated levels of short-selling -
where investors sell borrowed shares, hoping to buy them back
later at a lower price and pocket the difference - with 13.3
percent of its shares out on loan to hedge funds, according to
regulatory filings, by far the highest on the AIM index.

Cats, who sold around a third of his shares in Telit in May
for 24 million pounds, told Reuters in March there was "not one
single economic reason" for hedge funds to bet against the firm.

On Monday Cats bought 400,000 Telit shares for 687,000
pounds.

Where is my crystal ball.

Post in FT

https://www.ft.com/content/09157fa3-4607-3c5d-9fbc-0a84c72fd0b7

Internet-of-things specialist Telit Communications has said its chief executive will take a leave of absence while it investigations allegations he is a fugitive from a fraud indictment in the US.

On Tuesday morning Telit said that its board of directors had “appointed independent solicitors to conduct a thorough review of this matter.” It added that the board had agreed to Oozi Cats’ own request for a leave of absence while the lawyers probe the allegations.

A report in Italy’s il Fatto Quotidiano suggested that Mr Cats was indicted by the district court in Boston, Massachusetts in 1992 on counts of wire fraud.

Shares in the company, which was valued at more than £500m on London’s junior AIM exchange earlier this year after it rode a wave of investor excitement about Iot technology, fell by a third on Wednesday morning.

Telit sells hardware that it says enables devices from concrete-mixer trucks to parking meters to communicate wirelessly. Its share price hit an all time high of 375p in April, having more than quadrupled in the preceding three years.

The stock has fallen by 54 per cent since August 4. Telit warned on revenues on August 7, saying US certification of some of its products had been delayed.

Records from the district court of Boston, Massachusetts show that an individual named Uzi Katz was indicted on January 8 1992 for wire fraud, and a warrant was put out for his arrest. The records also refer to the defendant as a “fugitive”.

It remains unclear whether the person named in the court documents is the Telit chief executive. A person close to the company confirmed the chief executive sometimes spells his name as “Uzi Katz”.

This person added that the company knew no more than what was publicly available, adding that its lawyers hoped to conclude their investigations into the matter by the end of the week.

Telit’s stock has been volatile since May, when Mr Cats sold off more than 7m shares in the company, raising in excess of £24m. A person close to the company said he had sold the shares to repay personal loans he had taken out in US dollars, following a sharp fall in the value of sterling relative to the US currency. Mr Cats could not be reached for comment.

Breaking yesterday's intraday highs and resistance since 130p........

Share magazine today's article

Connectivity kit designer Telit Communications (TCM:AIM) saw its share price smashed on a half year plunge into the red, cuts to growth targets and an axed dividend. That disappointment sent the stock crashing from 257.5p on 7 August to 150p, bouncing to 172.5p the following day.

Delays in getting appropriate certifications for new products in the US, a spike in research, development and working capital costs and hints that large scale deployments may be delayed did the damage.

Squeezed cash leaves the company with $9m of net debt versus net cash expectations. This comes just two months after the company raised $50m of new funding at 340p per share. Analysts at Canaccord believe previous acquisition plans will now have to be out on hold.

We believe serious questions about the company’s future as an independent are now likely to be asked. Telit sees its growth future in supplying high margin services to the potentially enormous internet of things connected environment. Yet around 90% of its revenue still comes from mobile, wi-fi and narrowband wireless hardware sales, according to the respected technology website TechMarketView, where sales cycles can be long and unpredictable.

Almost every large mobile network operator, telecoms supplier and IT services companies all jockeying for market share in the internet of things space, Telit may find its future may be as part of a much bigger and financially powerful organisation

Strong finish

that is right very good for you and for ME, got some slightly better 123.94p on a T+10

not shorters over here like in other places to fight, I already put my fingers on their eyes at two posters somewhere else.

142.25p + 5p (+3.64%) had a high of 145p earlier

Another movement up on a very depressed market

Today decided to have a higher price 145p and then retracement
The opening lower spike was signaling that

The pause at around 128p and a stronger order book on the bid side, augurs better thing to come from this point after the retracement
DEPTH of
72 v 58 ( earlier was 59 v 63 )

134.50p +10.75p

Telit Communications PLC - Resignation of CEO and Board to be reinforced

Telit Communications PLC (AIM: TCM, "Telit", the "Group"), a global enabler of the Internet of Things (IoT), announces that Oozi Cats, has resigned from the Board and his employment with immediate effect. The independent review has found that the evidence shows that an indictment was issued against Oozi Cats in the US and that this fact was knowingly withheld from advisers. Yosi Fait will continue as interim Chief Executive Officer.

The Board intends to appoint three additional independent non-executive directors as soon as practicable to reinforce it, one of whom will become Chairman. It is expected that the non-executive appointments will be UK based and have previous PLC Board experience. The Nominations Committee has appointed Korn Ferry to conduct this search.

It is a source of considerable anger to the Board that the historical indictment against Oozi Cats was never disclosed to them or previous members of the Board and that they have only been made aware of its existence through third parties.

The Board is now moving on from this difficult situation and will continue to deliver on its stated strategy under the interim leadership of Yosi Fait. He will be conducting a preliminary review of the Group's activities and cost base.

The Board has engaged with its major stakeholders over the last week and is confident in the strategic and operational strength of the business. The Board reiterates the guidance it gave to the market on 7 August 2017 and intends to make a further announcement on progress during the course of September 2017.

The Board is also aware of additional speculation from third parties relating to Telit's financial condition, trading performance and business relationships and has considered that speculation in detail.

The Board confirms that there is no substance to the speculative and accusatory articles that have been published and that it stands behind the Group's audited accounts to 31 December 2016 and the most recently published interim statement.

Specifically the Board is satisfied with the status of its distributors which contributed approximately 24% of Group revenues in the year ended 31 December 2016 with the ten largest accounting for approximately 61% of the total distributor turnover.

The Board also notes the comments with respect to Bartolini After Market Electronic Services Srl, or BAMES, which relate to matters that commenced in 2007 and ended with the insolvency of BAMES in 2013 (although the Group's involvement with BAMES ended in 2010, as fully disclosed in the Company's financial statements). The investigation mentioned in recent publications is in a preliminary, non-public stage but given the recent speculation the Board confirms that should any charges be levelled against the Group (or its associates in place of the Group), it intends to defend its position vigorously and considers that any action would be without merit.

Looking for 145p today

That was the Intraday high last Friday, before more shorts where taken as the gossip got hold of negative commens on the "Sunday Tmes".

But they got the fire down below, with the positive news today

On 145p
Ready for take off!

Some resistance as expected around the 145p, so has been trying to go over 3 times now, some are trying to stoped it at this point

Leucadia and Lombard reducing short positions today.

Down to 12.44% from +13% total positions.

RNS - Davide Renato Ugo Serra crossed 3%, 4%

before 3,652,882
now 5,198,782 - 4%

Who is the man building a 4% stake ........

Mr. Davide Renato Ugo Serra is a Co-Founder, Founding Partner, Investment Advisor and Chief Executive Officer at Algebris Investments (UK) LLP. Prior to this.
Mr. Serra served as a Managing Director, Global Banks Team Coordinator and Research Analyst at Morgan Stanley, Research Division.
He headed the European banks research team at the firm. From 1995 to 2000, Mr. Serra was a Senior Analyst at UBS Investment Bank, Research Division. He catered to banks sector research ...

134.50p +3.50p after reaching 137.25p

The latest on shorts
We are starting to see the first signs of reduction from the historical data - this only includes data up to last Thursday 10th August.

Http://shorttracker.co.uk/company/GB00B06GM726/all

It looks likes some of the longs already cash in yesterday, and the shorts are running out of puff.

it seems 129p is a support at the moment, it tried yesterday and again this morning. but fail to go under.

Since the low of 101p to the Intraday high today 146.25p
then the 38.2% retracement
is @ 129p

Tradegate - gives prices after close in Euros

Sold for a good profit yesterday.

roller coaster this morning.

129p+ 14p (+12.17%)

it seems is the start of the day
UP and away

order book gets stronger
DEPTH
56 v 38

Up and away since yesterday, last Friday had capitulation again and then started to recover from the large drop.

Lucky if you bought some then, noticed late on the afternoon and I waited till the end to buy finaly @ 113.93p

We had an earlier intraday retrace of 38.2% @ 126p

Fibonacci retracement

High Range (H) = 133
Low Range (L) = 115

Calculate

-- % -- Retracements
0% 133
23.6% 128.75
38.2% 126.12

145.75p +13.25 (+10.00%)

Telit certifies LTE Cat M1 with AT&T

London, 31 August 2017 - Telit Communications PLC ("Telit", "the Group", AIM: TCM), a global enabler of the Internet of Things (IoT), today announced that its ME910C1-NA module is the first Telit LTE Category M1 (Cat M1) module to receive certification for operation on AT&T's LTE nationwide network.

Certification means IoT integrators and providers can start taking advantage of the reliability and coverage of AT&T's LTE Cat M1 network for the IoT.

Yosi Fait, Telit's Interim Chief Executive Officer, said:

"This is an important milestone for Telit customers. Our existing customers using 2G or 3G modules from Telit can now move to the newly certified Cat M1 module, go through the required AT&T testing with our help and start deploying Cat M1 products in a matter of weeks."

Telit's LTE Cat M1 module is based on Qualcomm® LTE modem and is the first of this technology to receive AT&T Cat M1 certification. The module expedites migration of existing 2G/3G connections and shortens time-to-market for new IoT devices.

Industries that demand lower costs, security and extended product lifecycles now have more options with Telit's LTE Cat M1 module. The combination of LTE Cat M1 technology and extensive feature set makes this module an ideal solution for new applications in vertical segments such as telematics, smart energy and metering, asset tracking, retail point of sale, security and surveillance, industrial control and automation, smart home, and smart buildings.

TCM 153p +20.50p

going places now, shorts must be closing by the way is moving UP

share price breaking up from the previous intraday high 146p on the 14th

Intraday retracement just like yesterday

so far has been a 38.2% retrace like yesterday to 152.50p

high 160.25p low 140.50p

23.6% - 155.589
38.2% - 152.70
50.0% - 150.375

163p +30.50p (+23.02%)

UT @ 163p
Well ahead of the closing spread 160.25 v 161.00p

there was buyers willing to pay the high price at the end
16:35:29
163.00p UT
114,200 K

the normal morning spike this time to 173p +10p

Tradegate - gives prices after close in Euros

Close T+11 @ 172.30p

seems some resistance at 174p and close enough of the 175p of the chart meeaning a 61.8% bounce from the bottom 100p

that was a gain of 51.50% on 4 working days of the T+15

Bought again @ 162p not long ago

After the recent retracement is on the bounce again ( up from 100p to 174p and down to 141p ),

GS increasing the stake on 06/09/2017

The Goldman Sachs Group, Inc.

Resulting situation on the date was crossed 7.88% - 130,691,291
Position of previous notification 7.27%

181.25p +4.25 +2.40%

The bounce back is on after a few days of pause last week

StockMarketWire.com
Telit Communications has warned that its adjusted EBITDA for the year will be materially below guidance.

It said pressure on gross profit margins stemming from the transition from 2G and CDMA products (mature technologies with higher gross profit margins) toward LTE products (newer technologies with lower margins at this stage) has been greater than expected.

Revenues and adjusted EBITDA for the second half will be greater than for the first.

The company has appointed former 888 non-executive chairman Richard Kilsby as non-executive chairman with immediate effect and made a number of other board changes.

Simon Duffy has been appointed the senior independent non-executive director and chairman of the audit committee, with immediate effect.

Yosi Fait, who has been interim chief executive since August, has been appointed chief executive officer and Yariv Dafna, currently chief operating officer, joins the board as finance director, both with immediate effect.

Enrico Testa is stepping down as chairman but will remain on the board as an executive director.

Kilsby said: "We are aware of the concerns raised regarding share trading undertaken by Yosi Fait in July 2017. We have absolute confidence in his integrity and believe, having examined the share trading with the assistance of external legal advice, on this basis that it was lawful.

"Telit is very well positioned in the fast growing and exciting space of the Internet of Things. The team have developed a detailed bottom up plan to rationalise the cost base of the business and capitalise on its leading position in the fast moving end-to-end IoT solutions space.

"I look forward to working with Yosi and the team to implement their strategy to develop the business and maximise shareholder value."

this lot was exposed as being crooked a while back .... why would anyone still be invested?

Quite. Not one for me but just happened to see the drop and reminded me why I don't have a stake.