27th May 2025 14:31
(Alliance News) - MTI Wireless Edge Ltd on Thursday reported higher revenue in the first three months of 2025, with growth anticipated through the rest of the year.
The Rosh Haayin, Israel-based technology company manufactures antennas for military and commercial use. The company posted first-quarter revenue of USD12.0 million compared to USD11.2 million on-year.
Pretax profit dropped slightly to USD1.07 million from USD1.14 in 2024, with general administrative costs rising to USD1.4 million from USD 1.2 million the previous year.
Earnings per share rose to 1.18 US cents from 1.06 US cents on-year. Shares in the company were up 5.1% at 45.20 pence each on Tuesday afternoon in London.
MTI Wireless expects business to expand in each of its three major divisions - antennas, water management and consulting.
"We believe that the underlying demand for our products is strengthening in all three of our principal markets," commented Chief Executive Moni Borovitz, though Borovitz singled out the firm's involvement in the military sector.
"Demand across the globe for defence products has seen the most obvious increase."
The company in April noted that its subsidiary, PSK Wind Technologies had secured a USD800,000 contract to deliver a test range shelter for an unnamed customer in the defence sector.
Following this, MTI Wireless reported a EUR1.0 million water irrigation contract for subsidiary Mottech Water Solutions Ltd.
Shares in MTI Wireless were up 5.1% at 45.20 pence in London on Tuesday afternoon.
By Holly Munks, Alliance News reporter
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