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Alan Green discusses Telit Communications (TCM) results with Justin Waite on the AFVFN podcast. Click here to listen to the podcast.

Looks like they delivered too! A 28.8% increase in first half adjusted EBITDA to $21.8m on revenues up 13.1% to $156.3m. Adjusted basic EPS rose 30% to 11.7 cents while net cash/debt fell to $nil from net debt of $3.9m in Dec 2014. Each and every operational financial parameter improved during the first half compared to the corresponding period in 2014; expenses, while growing in absolute numbers, decreased as a percentage of revenues.

CEO Oozi Cats said the first half result “starts to reveal the strength of our strategic acquisitions in the area of IoT connectivity and Application Enablement Platform (AEP) in recent years. These have added a layer of recurring revenues to Telit’s traditional business and we expect them to continue increasing their contribution over the coming years.”