Wireless tech firm Telit Communications has provided a positive trading update, saying that the trading outlook for the full year is in line with market expectations.
Consensus estimates for the full year ending December 31st 2012 are for revenues of £127.4m with pre-tax profits of 5.81m. Earnings per share are expected to be 3.75p, placing it on a forward price/earnings ratio of 15.7.
The group said its revenues for the nine months ended September 30th 2012 were up 16.7% year-on-year to $150m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The Israeli machine-to-machine wireless communications specialist designs and manufacturers devices which connect wirelessly to a network to enable monitoring of real-time information for equipment such as heart monitors, vending machines and trucks.
The shares rose a penny to 59.75p on the terse trading update in the first hour of trading.
CM
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
