March 17, 2020 / 10:28 AM / 20 days ago

BRIEF-Telit Communications Reports Annual Pretax Profit Vs Loss A Year Ago

March 17 (Reuters) - Telit Communications PLC:

* TELIT COMMUNICATIONS - FULL YEAR RESULTS

* TELIT COMMUNICATIONS PLC - FY GROUP REVENUES, EXCLUDING AUTOMOTIVE BUSINESS REVENUES, (SOLD IN FEBRUARY 2019), UP BY 8.3% TO $382.8 MILLION

* TELIT COMMUNICATIONS PLC - FY IOT CLOUD AND CONNECTIVITY REVENUES UP BY 20.2% TO $41.0 MILLION

* TELIT COMMUNICATIONS PLC - FY ADJUSTED EBITDA UP 26.9% TO $38.2 MILLION

* TELIT COMMUNICATIONS PLC - FY PROFIT BEFORE TAX OF $59.9 MILLION (2018: LOSS $39.8 MILLION)

* TELIT COMMUNICATIONS PLC - FY ADJUSTED PROFIT BEFORE TAX $13.2 MILLION (2018: LOSS $4.1 MILLION)

* TELIT COMMUNICATIONS PLC - ONE OF GROUP’S SUPPLIERS IN CHINA RESUMED PARTIAL OPERATIONS IN EARLY FEBRUARY 2020

* TELIT COMMUNICATIONS PLC - REMAINDER OF GROUP’S SUPPLIERS RESTARTED PRODUCTION FULLY DURING FEBRUARY 2020 IN CHINA

* TELIT COMMUNICATIONS PLC - FACING MINIMAL IMPACT TO ITS PRODUCTION PLAN IN RELATION TO COVID-19

* TELIT COMMUNICATIONS PLC - DEMAND FROM CUSTOMERS IS IN LINE WITH EXPECTATION AT THIS STAGE

* TELIT COMMUNICATIONS PLC - CONFIDENT THAT OUR OPERATIONAL AND FINANCIAL PERFORMANCE IN 2020 WILL CONTINUE TO IMPROVE Source text for Eikon: Further company coverage:

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