REG - MTI Wireless Edge - Half Yearly Report <Origin Href="QuoteRef">MWEE.L</Origin> - Part 2

MTI Wireless EdgeAnnouncement

27/08/2015 07:02

- Part 2: For the preceding part double click  ID:nRSa2186Xa 

                                  
 External                                     7,125        -                  7,125  
                                                                                     
 Total                                        7,125        -                  7,125  
                                                                                     
                                                                                     
 Segment income                               202          -                  202    
                                                                                     
                                                                                     
 Finance expense, net                                                         (21)   
                                                                                     
 Profit before income tax                                                     181    
                                                                                     
 Other                                                                               
 Depreciation and other non-cash expenses     223          -                  223    
                                                                                     
 
 
223 
 
- 
 
223 
 
(*) Reclassified. 
 
Note 4- operating SEGMENTS (CONT.): 
 
 Yearended December 31, 2014 (audited)                                            
                                          Antennas*    Water Solutions    Total   
                                          $'000      
 Revenue                                                                          
 External                                 14,341       -                  14,341  
                                                                                  
 Total                                    14,341       -                  14,341  
                                                                                  
                                                                                  
 Segment income                           311          -                  311     
                                                                                  
 Unallocated corporate expenses                                                   
 Unallocated income                                                       29      
                                                                                  
 Finance expense, net                                                     (187)   
                                                                                  
 Profit before income tax                                                 153     
                                                                                  
 Other                                                                            
 Depreciation                             451          -                  451     
                                                                                  
 
 
451 
 
- 
 
451 
 
(*) Reclassified. 
 
Note 5 -TRANSACTIONS AND BALANCES WITH RELATED PARTIES: 
 
The Parent Company and other related parties provide certain services to the
Group as follows: 
 
                    Six monthsended       June 30,    Year ended December 31,    
                    2015                              2014                       2014   
                    $'000                           
                    Unaudited                         Audited                  
 Purchased Goods    86                                152                        301    
 Management Fee     191                               201                        387    
 Services Fee       106                               104                        208    
 Leaseincome        (60)                              (60)                       (120)  
                                                                                            
 
 
Compensation of key management personnel of the Group: 
 
                                    Six monthsended       June 30,    Year ended December 31,    
                                    2015                              2014                       2014  
                                    $'000                           
                                    Unaudited                         Audited                  
 Short-term employee benefits *)    355                               366                        717   
                                                                                                       
                                                                                                           
 
 
*) Including Management fees for the CEO, Directors Executive Management and
other related parties 
 
All Transactions are made at market value. 
 
Note 5 -TRANSACTIONS AND BALANCES WITH RELATED PARTIES (CONT.): 
 
Balances with related parties: 
 
                  As at      
                  30.6.2015    30.6.2014    31.12.2014  
                  $'000      
                  Unaudited    Audited    
 Related parties  9            44           25          
                                                        
 
 
25 
 
Note 6 - SIGNIFICANT EVENTS: 
 
a.   On April 2, 2015 the company paid a dividend of 0.68 cents per share
totaling approximately $351,000. 
 
b.   To secure guarantees that the bank gave to the subsidiaries customers it
recorded a charge of approximately US$ 339 thousand on some of subsidiaries
bank deposits. 
 
Note 7 - SUBSEQUENT EVENTS: 
 
On July 2, 2015 the Group concluded an agreement with its former employee who
filed a suit against it (as described in Note 25 C in the annual financial
statements of the Company as of December 31, 2014). The provision recognized
in the 2014 financial statements was sufficient. 
 
This information is provided by RNS
The company news service from the London Stock Exchange