# MTI Wireless Edge Limited EPS Doubles, Cash Flow Triples

- Link: https://www.directorstalkinterviews.com/mti-wireless-edge-limited-eps-doubles-cash-flow-triples/412751015
- Published: 2018-05-14T07:23:51+01:00
- Author: Giles Arbor

**MTI Wireless Edge Limited** (LON:MWE), a market leader in the manufacture of flat
panel antennas for fixed wireless broadband and a wireless irrigation solutions 
provider, today announced its unaudited results for the three months ended 31 March
2018.

**Highlights:**
 · Revenues decreased by less than 1% year-on-year to $6.16m (Q1
2017: $6.21m) · Profit before tax decreased year-on-year to $166,000 (2017: $233,000)·
Earnings per share doubled year-on-year to 0.91 US cents (2017: 0.43 US cents), 
due to a large tax income credit. · Cash flow from operations tripled to $1.6m (
2017: $0.5m). · Shareholder’s equity grew during the period to $20.6m (31 December
2017: $20.1m), equivalent to 27.5 pence per share*.

* Calculated at £/$ rate of 1.35

> **Dov Feiner, CEO of MTI Wireless Edge Limited, commented:** “During the first
> quarter of 2018 we continued to see good progress in meeting our internal goals
> in both segments of our business. In our wireless controller segment, via Mottech,
> we see opportunities to grow the business in the various geographical areas we
> are now focusing on, including North America and China. In the antenna segment
> we continue to see good demand in our military, RFID and Millimetre Wave solutions.
> Given the current orderbook and pipeline of opportunities in both segments, we
> have a strong belief that our growth will continue in 2018 and beyond.
> We finished the first quarter with operational profits below last year’s equivalent
> profit, but this was due to us taking a calculated long term view of the business
> and increasing the investment in development and sales efforts. We believe that
> during the reminder of the year we will achieve our goal of increasing revenue
> and profits year on year.
>  Pleasingly our EPS has doubled in the first quarter
> due to large tax credit relating to future tax relief that we are entitled to 
> in our operation in India. This is a result of a change in the tax regime which
> has allowed us to reduce our tax liability.
> We have recently announced a proposed amalgamation with MTI Computers & Software
> Services (1982) Ltd, our parent company, and are progressing this transaction.
> We believe the transaction to be in the best interests of all shareholders and
> we are working to complete it as quickly as possible. Further announcements about
> the merger will be made as appropriate.”

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