MTI Wireless Edge Ltd. (MWE)

Sector:

IT Hardware

Index:

FTSE AIM All-Share

 38.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 39.00
  • 52 Week Low: 16.50
  • Currency: UK Pounds
  • Shares Issued: 87.58m
  • Volume: 0
  • Market Cap: £33.72m
  • RiskGrade: 194
  • Beta: 0.16

MTI Wireless' profits bolstered following merger

By Duncan Ferris

Date: Monday 11 Mar 2019

LONDON (ShareCast) - (Sharecast News) - MTI Wireless Edge's shares inched upwards on Monday after it reported increased annual profits and revenues following its merger with former controlling shareholder, MTI Computers & Software Services.
For the year ended 31 December, the mobile phone antenna specialist reported profit before tax of $2.7m, an increase of 8% over the previous year, with revenue climbing by 2% to $35.5m as the military antenna business boomed, growing its top line 26% while amassing a "large" pipeline of opportunities.

The company is also preparing for the widespread adoption of 5G mobile technology and sales of its antennas designed for this market tripled over the course of the year, with chief executive Dov Feiner "confident" that the technology will be the future growth engine of the antenna division.

However, overall antenna revenue decreased by 4% due to the completion of a large project in 2017, while the wireless controller segment grew by 9% as it continues to focus on water management solutions.

Meanwhile, the RFID segment remained flat after four consecutive years of growth, although the newly acquired representation business had a strong year, growing the revenue of its core business in Israel, which now accounts for more than 85% of the representation business, by 17%, driving b overall 4% increase in the unit's revenue.

Zvi Borovitz, chairman of MTI, said: "We believe that the underlying drivers of our business, such as the continued growth in data usage and increasing subscriber numbers, are part of long-term trends that we expect will continue for the foreseeable future. This, together with the requirement for efficient water management, provides us with confidence in both the Company's short and long-term growth prospects."

Earnings per share increased by 14% to 2.70 cents, even following the issuance of shares as consideration for the company's August merger.

At 31 December, the AIM traded company had cash and cash equivalents of $5.4m, up from $3.5m at the same point the year before, while MTI proposed a final dividend of $0.015 per share, down from the $0.02 per share proposed last year.

MTI Wireless Edge's shares were up 2.50% at 20.50p at 1033 GMT.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MWE Market Data

Currency UK Pounds
Share Price 38.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 39.00
52 Week Low 16.50
Volume 0
Shares Issued 87.58m
Market Cap £33.72m
Beta 0.16
RiskGrade 194

MWE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
35.33% below the market average35.33% below the market average35.33% below the market average35.33% below the market average35.33% below the market average
76% below the sector average76% below the sector average76% below the sector average76% below the sector average76% below the sector average
Price Trend
96.06% above the market average96.06% above the market average96.06% above the market average96.06% above the market average96.06% above the market average
92.00% above the sector average92.00% above the sector average92.00% above the sector average92.00% above the sector average92.00% above the sector average
Income
2.81% above the market average2.81% above the market average2.81% above the market average2.81% above the market average2.81% above the market average
14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average
Growth
60.47% above the market average60.47% above the market average60.47% above the market average60.47% above the market average60.47% above the market average
76.00% above the sector average76.00% above the sector average76.00% above the sector average76.00% above the sector average76.00% above the sector average

MWE Dividends

  Latest Previous
  Final Final
Ex-Div 21-Mar-19 01-Mar-18
Paid 05-Apr-19 05-Apr-18
Amount 1.50¢ 2.00¢

Trades for --2019

Time Volume / Share Price
0 @ 0.000p

MWE Key Personnel

CEO Dov Feiner
Finance Director Moshe Borovitz
CEO Moni Borovitz

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