BUZZ-Telit: hits all-time high after FY results
** Internet of things (Frankfurt: 7IT.F - news) company Telit rises as much as 16.4 pct, hitting an all-time high after reporting full-year results
** FY revenues up 11 pct to $370.3 mln
** Berenberg upgrades to "buy" from "hold", cites strong revenue growth in co's loss-making services division (sees current valuation as undemanding)
** CEO Oozi Katz told Reuters increased disclosure also showed the profitability of its main hardware business
** For the first time the company split out results for its platform business, that lost $10.2m in 2016 and provides less than 10 pct of group revenue
** "You can now see the higher level of profitability by far we have on the hardware side of the business," Katz said
** CEO expects platform business to grow at 30-40 pct per year, generating $100m of revenue by 2020 (currently $35.1m)