Telit Communications on track for full-year

10th Oct 2013 07:41

Wireless tech firm Telit Communications lifted quarterly revenue and said it continues to expect that trading for the full year 2013 will be in line with market expectations.The London-based firm said revenues for the three-months ended September 30th rose to $62.5m from $51.4m a year earlier. For the nine months to September 30th, revenues increased to $171m from $150m the previous year, helped by a first time $4.8m contribution from the m2mAIR division."This acquisition is anticipated to provide Telit with access to additional value added services and customers, granting Telit an even broader footprint in the m2m value chain," the group said in a statement."Telit's PaaS opens new opportunities to expand our services offering to small and medium m2m customers worldwide, widening our market advantage and will support Telit's recurring revenue strategy," it added.CJ