4th Nov 2013 09:17
LONDON (Alliance News) - MTI Wireless Edge Limited posted increased revenues and swung to a pretax profit in the nine months ended September 30, boosted by a strong performance from its military segment.
MTI manufactures antennas and antenna systems for wireless broadband. It is based in Israel.
The company posted revenue for the nine months of USD10.0 million, up from USD9.5 million in the previous year. Revenue from the company's military segment for the nine months exceeded its full year revenue in 2012, the company said.
MTI swung into a pretax profit of USD56,000 in the nine-month period from a pretax loss of USD353,000. Earnings before interest, tax, depreciation and amortisation was USD541,000 in the recent nine months, up from USD61,000 in the same period a year earlier.
MTI didn't break out its third-quarter results.
The company said that it had added new customers for its directed antenna dishes for the 80 gigahertz radio frequency band.
"As we anticipated, the 80 Gigahertz sector continued to develop and this year we have added a number of new customers to our growing list which we believe will contribute to our future revenues and profits," Chief Executive Officer Dov Feiner said in a statement. "This area will continue to expand as demand for broadband escalates."
Shares in MTI were trading up 5.3% at 7.90 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright © 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
Mti Wireless