MTI stems losses

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. Mti Wireless