Business
Final Results - Replacement
Final Results - Replacement.
About this update from Batm Advanced Communications Ltd.
[{"type":"text","content":"\n RNS Number : 0194P BATM Advanced Communications Ld 17 March 2009 \n \n\n\nBATM Advanced Communications Limited\n\nReplacement: Preliminary results for 2008\n\nBATM Advanced Communications Limited ('BATM' or 'the Company') (LSE: BVC) issues the following replacement to its 2008 preliminary results announcement which was released on 17 March 2009 at 7.00am under RNS number 9370O. \n\nThe changes are as follows:\n\n\nChanges to certain numbers in the Consolidated Statement of Cashflows and Appendix B Acquisition of Subsidiaries. There is no impact on the previously disclosed figure for the Company's cash and cash equivalents at the year end. \n\n\nReallocation of balances between Goodwill and Other Intangible Assets in the Consolidated Balance Sheet \n\n\n\nThe corrected announcement is set out below in full. \n\nBATM Advanced Communications Limited ('BATM' or 'the Company') (LSE: BVC), a leading designer and producer of broadband data and telecoms systems, announces its preliminary results for the year ended 31 December 2008.\n\nFull Year Highlights\n\n\n\n\n\nYear ended 31 December\n\n\n2008\n\n\n2007\n\n\nChange %\n\n\n\n\nRevenue\n\n\n$134.5m\n\n\n$96.9m\n\n\n+ 39 \n\n\n\n\nGross profit\n\n\n$61.3m\n\n\n$45.5m\n\n\n+ 35\n\n\n\n\nOperating profit\n\n\n$23.9m\n\n\n$16.6m\n\n\n+ 44\n\n\n\n\nPre-tax profit\n\n\n$24.0m\n\n\n$20.0m\n\n\n+ 20\n\n\n\n\nNet profit\n\n\n$24.5m\n\n\n$20.1m\n\n\n+ 22 \n\n\n\n\nProfit per share\n\n\n6.19¢\n\n\n5.08¢\n\n\n+ 22\n\n\n\n\n\nHighlights\n• Revenue growth of 39% to $134.5 million, despite challenging markets \n • Operating profits of $23.9m - up 44% over 2007\n • Record net profit of over $24 million - up 22% over 2007\n • Strong balance sheet maintained with $57 million in liquid investments\n • Recommended dividend of 0.69 pence per share (2007: 0.50 pence)\n\nDr Zvi Marom, Chief Executive of BATM said:\n\n'The year ended 31 December 2008 has provided excellent results. Despite the general weakness and challenges in global markets in 2009, the first two months of the year have started positively and we remain cautiously optimistic about our prospects for this year and beyond.\n\nThe G...