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MTI Wireless Edge bags follow-on military order worth around US$600,000

To put the deal into perspective, MTI's revenue for the first nine months of 2019 totalled US$29.0mln.

MTI Wireless Edge Limited -

MTI Wireless Edge Limited (LON:MWE) has secured an additional order to an existing contract, worth around US$0.6mln.

The contract is for the manufacture of military aerials and follows on from a US$1mln order received in March 2019, worth US$1mln, that was to be delivered over 40 months; the additional order announced today is to be delivered within the next 12 months.

"We are delighted with this additional contract win, which demonstrates this customer's satisfaction with our products, technology and service,” said Moni Borovitz, chief executive officer of the aerials technology specialist.

“We continue to see expansion and growth opportunities in all sectors of the antenna industry, particularly in the 80 GHz spectrum as mobile operators start to implement the roll-out of their 5G networks," he added.

Quick facts: MTI Wireless Edge Limited

Price: 40 GBX

AIM:MWE
Market: AIM
Market Cap: £35.16 m
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MTI Wireless Edge seeing 'continued significant revenue growth and...

MTI Wireless Edge Ltd's (LON:MWE) Richard Bennett discusses with Proactive London's Andrew Scott the group's results for the nine months to the end of September. Revenues increased by 12% in the period to $29mln while operating profit increased 33% to $2.5mln.

on 25/11/19

2 min read