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BATM

October 2007

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:
  • 32.5p
BATM has reported solid H1 results with sales up 16% to US$39.6m driven by increased demand from certain strategic partners and greater demand for its new software platform. Adjusted pretax profit was US$5.7m and eps were 1.3 cents, a rise of 21%. Net cash at the period end was US$51.9m, equivalent to 13.3 cents a share. Gross margins were 45.7%, a six year record, driven by cost reductions and a higher element of software. Shore Capital forecasts US$13.4m for thefull year (eps 3.17 cents) lifting to US$18m next year (eps 4cents).2008 is expected to be a very strong year for BATM as a resultof increased sales to Nokia and Alcatel as well as from direct salesin Japan. Three major contracts are expected to mature into largeord ...

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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.

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