Business
1st Quarter Results
1st Quarter Results.
About this update from Mti Wireless Edge Ltd
[{"type":"text","content":"\n \nRNS Number : 6624E MTI Wireless Edge Limited 10 May 2017 \n\nDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR)\n10 May 2017\nMTI Wireless Edge Ltd\n(\"MTI\" or the \"Company\")\nFinancial results for Q1 2017\nMTI Wireless Edge Ltd. (AIM: MWE), a market leader in the manufacture of flat panel antennas for fixed wireless broadband and a wireless irrigation solutions provider, today announces its unaudited results for the three months ended 31 March 2017.\n \nHighlights: \n· Revenues increased by 18% year-on-year to $6.2m (Q1 2016: $5.3m)\n· Gross profit increased 38% year-on-year to $2.46m (Q1 2016: $1.78m)\n· Operating profit of $0.45m (Q1 2016: loss of $0.1m)\n· Earnings per share of 0.43 US cents (Q1 2016: loss of 0.29 US cents)\n· Shareholder's equity grew during the period to $19.4m (31 December 2016: $18.9m), equivalent to 28.4 pence per share.\n \nDov Feiner, CEO of MTI Wireless, commented:\n \n\"During the first quarter of 2017 we continued to see growth in both segments of our business. In our wireless controller segment, via Mottech, we see many additional opportunities to grow the business in various geographical areas, some of which we announced recently. In the antenna segment we continue to see good demand in all areas (military, RFID and broadband access) and given the current orderbook and pipeline of opportunities in the antenna segment, we have a strong belief that the growth will continue in 2017 and beyond. \nNotwithstanding the decline in value of the US dollar against the New Israeli Shekel in Q1 2017 we were delighted to grow the operating profit, as this decline is reflected in the higher financial costs we incurred during the quarter. We believe that once the exchange rate stabilises our net earnings will grow even further\".\n\n\n \nFor further information please contact:\n\n\n\n\nMTI Wireless Edge Ltd\nDov Feiner, CEO\nMoni Borovitz, Financial Director\n \n\n\nhttp://www.mtiwe.com/\n+972 3 900 8900\n\n\n\n\nNomad and Joint Broker\nAllenby Capital Limited\nNick Naylor\nAlex Brearley\n \n\n\n+44 20 3328 5656\n \n\n\n\n\nJoint Broker\nPeterhouse Corporate Finance Limited\n...