BATM Advanced Communications Limited (LON:BVC), the networking solutions and medical laboratory systems specialist, provided an upbeat assessment of prospects as alongside its annual results.
Given the comprehensive trading update a week ago, in which BATM cautioned on delays to certain contracts, there will be few surprises in these figures.
On revenues of US$90.4mln the company generated underlying earnings (EBITDA) of US$2.8mln with the gross margin remaining steady at just over 31%.
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A total of US$900,000 of cash flowed into the business in 2016.
"We are pleased with the commercial advancements made by most of our businesses in winning new customers, laying foundations for a sustainable recovery and growth,” said chief executive Zvi Marom.
“In particular, the diagnostics unit saw a solid year-on-year increase in revenues as the unit increased the number of machines sold to over 500.”
Marom pointed to the “significant inherent value” BATM’s assets overlooked by the market.
A case in point is the firm’s Adaltis medical diagnostics equipment unit, where investment into the business valued it at US$58mln.