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BATM revenues fall

By BFN News | 07:51 AM | Tuesday 30 August, 2016

BATM Advanced Communications' group revenues fell to $45.1m in the six months to the end of June (H1 2015: $47.6m) but gross margins improved to 32.8% (H1 2015: 31.7%). Adjusted operating losses rose to $0.6m (H1 2015: $0.3m loss) and EBITDA fell to $0.3m (H1 2015: $0.6m) but the net loss reduced to $1.5m (H1 2015: $2.0m loss). Chief executive Dr Zvi Marom said: "We are pleased with the results in the first half as the Group capitalised on the foundations laid in 2015 for a sustainable recovery and growth. "Specifically, the Group focused on re-investing in sales and marketing in the Bio-Medical division resulting in it increasing its footprint and gaining a broader customer base, particularly in the Diagnostics unit. "For the Networking and Cyber division the focus remained on conducting proof-of-concept trials of our latest software with Tier 1 companies and government agencies whilst maintaining tight cost control resulting in the division returning to profit at the operating level compared with a loss in the equivalent period last year. "Looking ahead, we are excited by the potential positive impact of the investment in our Diagnostics business where we have positioned ourselves to capture a significant portion of the growing Chinese diagnostics market. This, together with the sustained growth in the rest of the Diagnostics business, is expected to result in further revenue growth in the second half of the year. "In addition, we expect the Green Lab acquisition to provide access to a larger number of markets for our ecologic solutions in the Pathogenic Waste Treatment and Sterilisation business, which should see increased sales in the second half of the year, as well as continue to boost the Distribution unit. "As a result of this, and further expected orders in the Cyber business sustaining the recovery in the Networking and Cyber division, the Board looks to the future with confidence." Story provided by

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