REG - MTI Wireless Edge - Q3 Results <Origin Href="QuoteRef">MWEE.L</Origin> - Part 2

MTI Wireless EdgeAnnouncement

13/11/2015 07:01

- Part 2: For the preceding part double click  ID:nRSM5895Fa 

 10,297       3,108                13,405  
                                                                                              
 Total                                              10,297       3,108                13,405  
                                                                                              
                                                                                              
 Segment income                                     648          405                  1,053   
                                                                                              
                                                                                              
 Finance expense, net                                                                 (225)   
                                                                                              
 Profit before income tax                                                             828     
                                                                                              
 Other                                                                                        
 Depreciation and amortization                      408          20                   428     
                                                                                              
 
 
408 
 
20 
 
428 
 
(*)  Reclassified. 
 
(**)  Results for four month ending on September 30, 2015. 
 
 Nine monthsended September 30, 2014 (Unaudited)                                            
                                                    Antennas*    Water Solutions    Total   
                                                    $'000      
 Revenue                                                                                    
 External                                           10,659       -                  10,659  
                                                                                            
 Total                                              10,659       -                  10,659  
                                                                                            
                                                                                            
 Segment income                                     217          -                  217     
                                                                                            
                                                                                            
 Finance expense, net                                                               (107)   
                                                                                            
 Profit before income tax                                                           110     
                                                                                            
 Other                                                                                      
 Depreciation                                       339          -                  339     
                                                                                            
 
 
339 
 
- 
 
339 
 
(*) Reclassified. 
 
 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: 
 
                    Nine monthsended       September 30,    Year ended December 31,    
                    2015                                    2014                       2014   
                    $'000                                 
                    Unaudited                               Audited                  
 Purchased Goods    218                                     194                        301    
 Management Fee     314                                     294                        387    
 Services Fee       159                                     156                        208    
 Leaseincome        (86)                                    (90)                       (120)  
                                                                                                  
 
 
Compensation of key management personnel of the Group: 
 
                                    Nine monthsended       September 30,    Year ended December 31,    
                                    2015                                    2014                       2014  
                                    $'000                                 
                                    Unaudited                               Audited                  
 Short-term employee benefits *)    560                                     523                        717   
                                                                                                             
                                                                                                                 
 
 
*) Including Management fees for the CEO, Directors Executive Management and
other related parties 
 
All Transactions are made at market value. 
 
Balances with related parties: 
 
                  As at      
                  30.9.2015    30.9.2014    31.12.2014  
                  $'000      
                  Unaudited    Audited    
 Related parties  (17)         55           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$ 170 thousand on some of subsidiaries
bank deposits. 
 
c.     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. 
 
Note 7 - SUBSEQUENT EVENTS: 
 
After the date of the statements Mottech and Aqua concluded all suits and
litigation process that they were involved in. The provision recognized in the
financial statements was sufficient. 
 
--ENDS-- 
 
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