Updates

BATM

April 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Results for the year to 31 December confirm the recovery in the telecoms market and the upward trend in sales we wrote about in October. Turnover, which has declined since 2002, finally showed an uptick, lifting 11% to US$41.2m in 2004. H2 sales were particularly strong, up 13% compared to H2 in 2003.This increase primarily related to increased demand for new Ethernet/IP switches and broadband access products. The latter access products also incorporate technology for VoIP or voice over Internet Protocol, to allow voice communications to be sent over the internet and thus avoiding long distance toll charges. BATMs range of new switches has really opened up large enterprises and the telecoms carriers as BATM's customers. The ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

BATM

April 2005

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