MTI Wireless Edge (AIM:MWE) – US$1m contract win highlights the value
The developer and manufacturer of sophisticated antennas and antenna systems has opened the year with a cracking contract win and news that revenues for the year ended 31st December 2013 will be slightly ahead of market expectations. (broker forecast was for US$13.25m)
The US$1.0m order is from a major customer of its Commercial Division and is for delivery in 2014. Management also commented that the order pipeline for 2014 - and into 2015 - is looking strong. MWE has been unloved by the market for sometime with the share price remaining rooted around the 6p-7p level for most of 2013. You benefit from quarterly reporting with this one and the 9 month figures to 30th Sept 2013 were quite encouraging with revenues up 5% year on year to $10.0m (Q1 - Q3 2012: $9.5m). The balance sheet also looked in great shape…