MTI Wireless Edge (AIM: MWE) - positive results but what’s the point of staying on AIM?
The Israel based manufacturer of flat panel antennas for broadband wireless access has issued encouraging results for the year ended 31 December 2014 with the cash pile growing further, however, we really fail to see the point of this tiddler staying on the market, especially given the very poor returns on shareholder equity.
Revenues increased by 7% to $14.3m and profit from operations increased 79% to $340K. Operating cash flow was US$1m boosting net cash, cash equivalents and marketable securities at the year-end to US$6.6m, equivalent to 8.4 pence per share (current share price 10.88p)
Net assets at 31st December 2014, which included only $406k of Goodwill, were US$17.8m or approximately £11.7m and more than double the current market capitalisation. Assets include the Company’s offices which have a…
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