1st Apr 2008 07:00
BATM Advanced Communications Ld01 April 2008 BATM Advanced Communications Limited Interim Management Statement BATM Advanced Communications Limited ("BATM" or "the Company") (LSE: BVC),aleading designer and producer of Carrier Ethernet and metropolitan telecomsystems, is today issuing its first Interim Management Statement, which coversthe period from 1 January 2008 to 31 March 2008. Current trading update Performance in the first two months of 2008 was much stronger than in the sameperiod in 2007. Revenues have grown by 69% over the same period last year andthis trend has continued into March. We experienced growth in our OEM businessas well as other channels, including increased revenue on sales to existingcustomers. Both gross and operating margins in the first 2 months of the yearhave been slightly better than those achieved during the same period last year. Financial position There has been no significant change in our financial position during the firsttwo months of 2008. Our balance sheet remains very strong and we ended Februarywith effective cash balances of $64.6m. Cash and deposits up to three monthsduration are $46.7 million, short term investment up to one year are $7.4million and long-term investments of more than one year are $10.5 million. Acquisition of broadband multiplexer product line We are pleased to announce that Telco Systems, our US wholly owned subsidiary,has acquired the broadband multiplexer product line from Charles Industries. Theacquisition will enable us to offer a complete range of solutions for cellularbackhaul. The assets included in the transaction will extend our EdgeLinksolution set to include features and technologies such as Ethernet over PDH notcurrently offered in our product family. This transaction does not affect ourtrading or financial position for the reported period. Outlook We are pleased with the company's performance during the first 3 months of 2008.Despite the general market conditions the positive momentum in the company'sbusiness is continuing. This underscores our confidence that we will continue togrow and strengthen our business for the rest of the year and we remaincautiously optimistic of our prospects for the year as a whole. - ends - Enquiries: BATM Advanced Communications +972 9866 2525Dr Zvi Marom, Chief Executive Threadneedle Communications 020 7936 9606Josh Royston / Graham Herring Kaupthing Singer & FriedlanderNicholas How / Marc Young 020 3205 7620 Shore CapitalGraham Shore 020 7408 4090 About BATM Advanced Communications BATM is a world leader in the design and supply of IP packet-based systems suchas high-capacity, self-routing switches with extensive QoS capabilities. Formore information, visit the BATM Advanced Communications web site atwww.batm.com Telco Systems is a wholly owned subsidiary of BATM Advanced Communications Basedin Foxboro, Massachusetts; the company provides industry-leading networkingsolutions to the carrier and enterprise markets. Telco Systems' focus is tomaximize the power of customers' networks by integrating transport, access, andpacket technologies onto industry-leading platforms, therefore fully meetingtoday's and tomorrow's network requirements. For more information, visit theTelco Systems web site at www.telco.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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