Best Casino Sites Not On GamstopUK Casino Not On GamstopCasinos Not On GamstopNon Gamstop CasinosNon Gamstop CasinosNon Gamstop Casinos

Telit slashes loss

Companies: TCM ��
26/02/2008

Fast-growing machine-to-machine communications specialist Telit has cut annual losses from �5.57 million to �662,000.

The AIM-quoted company, floated in 2005 by Israeli entrepreneur and chief executive officer Oozi Cats, increased turnover 73 per cent in 2007 to �39.2 million, including a one-off �1 million payment from Italian concern Bardi to use the Telit brand in its marketing. Telit, which ended the year with nearly �4 million cash, received the first instalment of a �12 million investment from BAMES, the former Italian arm of US printed circuit assembler Celestica, into Telit Wireless Solutions, part of a strategic agreement between the UK company and BAMES’s electronics manufacturing subsidiary SEM.

Cats says Telit has exceeded its ‘forecast break-even position at the operating level for the second half of 2007’. He claims a strong new business book in all the company’s geographical markets, including the US, and declares that Telit ‘is entering a new chapter in its development, one of profitable growth and positive earnings’.

Since floating at 140p, Telit's shares slid all the way to 22.5p in early 2007. Highlighted by Growth Company Investor last March as a ‘speculation for the bold’ at 27.5p, they are now 92p, up 8.5p this morning, valuing the company at �40 million.

Some profit taking might be prudent for those showing significant gains. But the company looks poised for further progress, business conditions permitting.

Growth Company Investor subscribers have full access to all our AIM and small-cap share recommendations. To subscribe today with a half-price offer, and gain immediate access to all the recommendations, click here.

Robert Tyerman

Related Articles:
16/05/2008
16/05/2008
15/05/2008
14/05/2008
14/05/2008

People who read this article also read ...
27/02/2008
26/02/2008
25/02/2008
08/02/2008
14/03/2006

AIM�14.36m 32.25p 0.00p
Other company articles:
03/03/2008
26/02/2008
14/03/2007
01/03/2006
03/08/2005

Sponsored Listings

Saving Investment Info Get info on saving investment from 12 engines in 1.

Compare Over 1300 Saving & Investment Accounts Compare over 1300 saving and investment accounts. We help you find the best rates and apply online.

Looking for Saving Investment We have reviewed and sorted 169 odd links for saving investment - the top 10 list is presented here.

Recommendations

Hyder Consulting

STRONG BUY

Futura Medical

SPECULATIVE BUY

Education Development International

ADD

Umeco

HOLD

Relax Group

HOLD

Digital Marketing

BUY/HOLD

Superglass Holdings

SPECULATIVE BUY

Hallin Marine Subsea International

REDUCE

Lo-Q

HOLD

Hardy Underwriting Bermuda

HOLD
AIM