News 01 April 2008 Interim Management Statement
RNS Number:2128R
BATM Advanced Communications Ld
01 April 2008
BATM Advanced Communications Limited
Interim Management Statement
BATM Advanced Communications Limited ("BATM" or "the Company") (LSE: BVC),a
leading designer and producer of Carrier Ethernet and metropolitan telecom
systems, is today issuing its first Interim Management Statement, which covers
the period from 1 January 2008 to 31 March 2008.
Current trading update
Performance in the first two months of 2008 was much stronger than in the same
period in 2007. Revenues have grown by 69% over the same period last year and
this trend has continued into March. We experienced growth in our OEM business
as well as other channels, including increased revenue on sales to existing
customers. Both gross and operating margins in the first 2 months of the year
have been slightly better than those achieved during the same period last year.
Financial position
There has been no significant change in our financial position during the first
two months of 2008. Our balance sheet remains very strong and we ended February
with effective cash balances of $64.6m. Cash and deposits up to three months
duration are $46.7 million, short term investment up to one year are $7.4
million and long-term investments of more than one year are $10.5 million.
Acquisition of broadband multiplexer product line
We are pleased to announce that Telco Systems, our US wholly owned subsidiary,
has acquired the broadband multiplexer product line from Charles Industries. The
acquisition will enable us to offer a complete range of solutions for cellular
backhaul. The assets included in the transaction will extend our EdgeLink
solution set to include features and technologies such as Ethernet over PDH not
currently offered in our product family. This transaction does not affect our
trading or financial position for the reported period.
Outlook
We are pleased with the company's performance during the first 3 months of 2008.
Despite the general market conditions the positive momentum in the company's
business is continuing. This underscores our confidence that we will continue to
grow and strengthen our business for the rest of the year and we remain
cautiously optimistic of our prospects for the year as a whole.
- ends -
Enquiries:
BATM Advanced Communications +972 9866 2525
Dr Zvi Marom, Chief Executive
Threadneedle Communications 020 7936 9606
Josh Royston / Graham Herring
Kaupthing Singer & Friedlander
Nicholas How / Marc Young 020 3205 7620
Shore Capital
Graham Shore 020 7408 4090
About BATM Advanced Communications
BATM is a world leader in the design and supply of IP packet-based systems such
as high-capacity, self-routing switches with extensive QoS capabilities. For
more information, visit the BATM Advanced Communications web site at
www.batm.com
Telco Systems is a wholly owned subsidiary of BATM Advanced Communications Based
in Foxboro, Massachusetts; the company provides industry-leading networking
solutions to the carrier and enterprise markets. Telco Systems' focus is to
maximize the power of customers' networks by integrating transport, access, and
packet technologies onto industry-leading platforms, therefore fully meeting
today's and tomorrow's network requirements. For more information, visit the
Telco Systems web site at www.telco.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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