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MTI Wireless Edge 44.5p
(MWE; AIM, not in FT)
The strong momentum seen in the past in both sales and earnings continued in the first half ended June 30. Revenue was up 36% to $7.3m while an improved operating margin pushed profit before tax up 84% to $1.4m. This gave earnings per share of 3.1 cents, a 30% advance year-on-year. Operating cash inflow was $1.37m, which left net cash and equivalents of $12m, or 12p a share.
With a healthy order book worth around $4.1m deliverable over the rest of 2006 (compared with $2.75m at the same time last year), MTI is very positive about the outlook.
The fixed wireless broadband equipment market is estimated to be growing by 40% a year, so it is easy to see why MTI is bullish on its prospects. Keep buying.