Telit Communications PLC Reports Group Net Debt Results for the Year Ended December 31, 2016; Provides Group Earnings Guidance for the Second Half and Full Year Ended December 31, 2016
The company provided group earnings guidance for the year ended December 31, 2016. For the year, the group revenues are expected to be approximately $370 million compared to $333.5 million a year ago, an increase of 11%. The group expects adjusted EBITDA and EPS to be in line with the guidance at $54 million to $59 million (2015: $45.3 million) and 26 cents to 30 cents (2015: 21.7 cents) respectively.
The revenues in second half of 2016 are expected to be approximately $204 million compared to second half of 2015 $177 million, an increase of 15% on second half of 2015.