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BATM - Recovering but looks a long haul

April 2011

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 were mixed; on the one hand, revenues were in line with expectations confirming a recovery in BATM's telecoms business but on the other hand, profits were significantly below expectations due to lower gross margins and higher than expected sales and marketing costs, driven by increased investment in the medical division. As it was there was an 11% decline in full year sales to US$121m. Pretax profit was US$5.5m and eps was 0.8 cents. Net cash at the year end was US$54m.Telecom revenues fell by US$25m to US$80m after seeing a substantial decline in sales to major OEM customer, Nokia Siemens Networks. In a business which is highly operationally geared to volumes this took its toll on profits ...

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BATM - Recovering but looks a long haul

April 2011

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