From the Financial Times:
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FRIDAY OCTOBER 16 1998 Telecoms
BATM: Profits rise by 25%
By Alan Cane
BATM Advanced Communications, an Israeli telecommunications equipment manufacturer quoted on Aim, saw strong growth in sales and pre-tax profits in the six months to June 30.
The company, chaired by David Goldman, the former driving force behind Sage, one of the UK's most successful software companies, has a technological alliance with 3M.
It manufactures high-speed networking equipment and is developing photonic chips which process light signals in a manner analogous to the way silicon chips process electrons.
Turnover rose 62.6 per cent to $7.79m from $4.79m, while pre-tax profits rose 25.3 per cent to $1.24m. Earnings per share were 3.87 cents, up 19.8 per cent.
Mr Goldman , who has invested £8m for a 20 per cent stake in the company, said: "This company has always made a profit.
"We will benefit greatly from our relationship with 3M - we have a total of $12m worth of orders from it - but we are not a one-product, one-customer company. Other customers include IBM and Lucent of the US."
The company yesterday announced a joint venture with Lannet, a Lucent subsidiary.
Dr Zvi Marom, BATM's chief executive, said: "We believe that the next major trend in data communications will be the use of Jfibre optics for local area networking.
"Together with our technology partners, we are well positioned to take a significant share of this rapidly growing market.">>>> |
