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BATM

April 2006

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.

  • Epic Code:
  • BVC
  • Price:
  • 28.25p
February’s big contract wins came too late to benefit 2005 results but even so, these demonstrated a return to operating profit at the operating level. Largely due to rising volumes of VoIP equipment and OEM business, sales were up 37% to US$56.5m and adjusted pretax profit was US$1.5m, compared to a loss of US$2.6m. Cash at the period end was US$48m or 7p a share. With gross profit margins of 39%, BATM is clearly geared to additional volumes from the long-term contracts recently won. Eps forecast of 0.64p this year doubling to 1.2p next year. Hold/buy on a two year view.  * The writer has a shareholding ...

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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

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