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.

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