Mti Wireless Share News (MWE)

Mti Wireless Information

Share Price Information for Mti Wireless (MWE)

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71.00 0.00 (0.00%)

Bid:

70.00

Ask:

72.00

Spread: 2.00 (2.857%)

Market Cap: £61.22m

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MTI stems losses

Fri, 12th Nov 2010 13:39

Antenna developer MTI Wireless Edge made a small third quarter profit but it remains loss-making for the nine months to September 2010. Revenues fell from $10.3m to $9.65m in the nine month period. There was a swing from a profit of $243,000 to $537,000. Israel-based MTI says the improvement that started at the end of the second quarter continued into the third quarter. Third quarter revenue edged up to $3.5m and that was the first time since 2008 that the company's revenues have been higher than the previous quarter. The AIM-quoted company says its order book has increased. Net cash and financial assets were $11.9m at the end of September 2010 - that covers the market value of the business.