14th May 2015 09:47
LONDON (Alliance News) - MTI Wireless Edge Ltd Thursday said it remains confident in the long-term market for its products, although it noted that some of its customers are suffering in delays in bringing their product into the market.
MTI Wireless manufactures flat panel antennas for fixed wireless broadband.
The company posted a pretax profit of USD45,000 for the quarter to end-March, down from USD51,000 a year before, on revenue of USD3.5 million, flat on the previous year. The company said it had seen growth in its radio-frequency identification line of products, driven by fleet management and toll roads applications, and continued interest and demand for its 80 gigahertz line of products.
MTI has entered into a conditional agreement to acquire wireless control products and services company Mottech Water Management Ltd at the end of April, and it expects to complete this acquisition before the end of May.
Shares in MTI Wireless are trading down 7.3% at 9.50 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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