|Mti Wireless Edge
||EPS - Basic
||Market Cap (m)
|Technology Hardware & Equipment
MTI Wireless Edge Share Discussion Threads
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|Thanks Gb, sorry didn't see your post cj|
Allenby are pretty good with Broker note updates on their website. You can find the latest note here:
|Allenby latest note suggests fair value of 33p for Mti.|
|A significant orderbook increase.
However, it's worth noting that the overall orderbook, whilst well up on that of this time last year, still only represents six months of last year's revenue. In other words, visibility is awlays limited at MWE.|
|And all to be delivered in 2017.
Total turnover last year was 18.6m sterling.
So this one contract, worth just under 1.5m pounds, represents almost 8% of current turnover.
The Frank bullishness of the chairman's Outlook statement has its first realisation.|
|The contract win - with existing customer -in the broadband wireless section is actually quite large: 1.8m US dollars.|
|I haven`t received my script divi form. Topped up twice in the last week.|
|I've done the same. It's sensible to conserve cash in order to fund the growth plans (clearly stated a number of times in the results). Note 14 of the accounts shows they've been using cash to buy more raw materials which is a positive when you consider the bullish outlook statements. Yesterday's contract announcement is a good start.|
|Yes, read well. I've opted to accept the scrip divi.|
|The full year results were as expected.
A quiet fourth quarter from Mottech. But a return to decent profit at the antennae división.
What surprised me most was the uncharacteristically bullish Outlook statement from the chairman, referring to every branch of the business: all 3 branches of the antennae business ie comercial, military and RFID, and Mottech as well.|
|Well I've bought in this morning. This looks way cheaper than anything else I'm looking at with the low PER, that balance sheet and dividend. Cracking little tech stock. I really like the "enormous growth" prospects they are talking about.
Zvi Borovitz, Non-Executive Chairman of MTI Wireless, commented:
"During 2016 we completed the integration in our recently acquired Mottech Water Solutions and we strengthened our sales and marketing in key territories. The steps we took returned the business to growth and laid the foundations to capitalize on the enormous opportunities and the future growth.|
|Results due soon!|
|A small contract win for Mottech in Tanzania. Hopefully, the first of many.|
|On this occasion Sladdjo knows no more than the rest of us re the RFID figures.
The problem with the antennae business has always been a lack of forward visibility. The recent contract wins mitigate the lack of visibility, but they are only small contract wins, so the basic issue remains.
What's interesting is that despite the increased turnover, inventory and receivables haven't bloated. Cash generation has been very good this year.|
|The good news just keeps coming.|
I've just voted your post up. Good complete update.
The RFID commment is intriguing and encouraging, but means little without figures behind it .
Sometime ago they were doing RFID trials with Aerorflot; before that they were doing trials wth a major retailer. I believe the latter were not unsuccessful technically, but the potential client didn't then go ahead. I'm going to contact Sladdjo, who is a regular attender of MWE meetings and has got to know the management, to see if he can shed any further light.
All the best|
Agree Q3 was very similar to Q2 with strong cash generation of $500k. A strong quarter is now a $6m quarter whereas in the old (pre-Mottech) business it was more like $3.5m.
Cost of sales was slightly higher in Q3 vs Q2, so margins at 36.5% vs a whopping 40% last time. Still very healthy though and probably reflects more of the lower margin antenna work.
If it wasn't for the duff Q1 the FY would be a cracker. With 4 good quarters the new business should be throwing off $2m cash per year.
$2m = £1.6m nowadays.....so what price should a wireless tech + water tech company currently be valued at? Probably more than the £13m mcap we're currently sat on!
A first mention of RFID doing well (finally!) plus recent contract wins and the perennial positivity on 60-80Ghz are all good news.
Those contract announcements were:
May: 0.5m EUR for Mottech by EOY 2016
June: 1.8m USD for Military antennas over 26 months
September: 0.7m USD for Military antennas over 24 months
Military antennas have always been better margins than standard antennas and Mottech business is also better margin, with potential for what sounds like 0.3m EUR service work in 2017.
And yet MWE is valued at less than its assets.
|It is a very bullish update - should see us into the 30s before too long, especially given the intrinsic asset value ps.|
|·3rd quarter figures show a strong revenue and profit perfomance at Mottech and the antenna business just in profit. On these figures, annual turnover would be north of $25m.
Net assets per share have risen to 28.9p, helped by the strength of dollar vs pound.
The management say there was a strong performance from RFID. If so, that's a new development, but as no breakdown is provided, it's not posible to say what they mean.
Overall, good cash flow has reduced net (and gross) debt.
These look to me still significantly under-valued. The management also make confident noises about upcoming performance, but again without specifics.
Really 3 months is very little time, but things are going in the right direction.|
|Nice recovery here.|
|Hi Columbarius, I'm pleased to have been of some help.
The second contract win with another new European customer in the military segment is hopeful for future performance in the antenna división, which has been in and around break even for several years. Both new contracts are small, but bring the promise of repeat business.
For me, downside here is limited by the 26.5p net tangible assets.
There is always a slight political risk associated with Israeli companies, however.|
|Thanks for the clarification CJ. I'd missed that useful note during a quick read of the accounts and after further research I bought in.|
|Good news, let's hope these new customer contracts lead to fruitful long term relationships.|