REG - MTI Wireless Edge - Significant Orderbook Increase <Origin Href="QuoteRef">MWEE.L</Origin>

MTI Wireless EdgeAnnouncement

14/03/2017 07:45

RNS Number : 3458Z
MTI Wireless Edge Limited
14 March 2017
14 March 2017
MTI Wireless Edge Ltd
("MTI" or the "Company")
Significant Orderbook Increase
MTI Wireless Edge Ltd. (MWE), a market leader in the manufacture of flat panel antennas for fixed wireless broadband and a wireless irrigation solution provider, announces that the Company's major shareholder, MTI Computers & Software Services (1982) Ltd ("MTIC"), has today announced its results for the year ended 31 December 2016 (the "MTIC Results") on the Tel Aviv Stock Exchange. 
The MTIC Results contain, inter alia, details of MTI's current orderbook, which for MTI's antenna division is stated as being US$7.2m, of which US$6.6m is to be accounted for in 2017. For comparative purposes, last year (March 2016) the equivalently stated orderbook for the antenna division was US$4.1m, of which US$3.8m was to be accounted for in 2016. 
The MTIC Results also contain details of the current orderbook for the Company's Mottech division, which is stated as being US$4.4m for 2017, broadly unchanged from the previous year's position, as stated in March 2016. 
For further information please contact:
MTI Wireless Edge
Dov Feiner, CEO
Moni Borovitz, Financial Director
http://www.mtiwe.com/
+972 3 900 8900
Nomad and Joint Broker
Allenby Capital Limited
Nick Naylor
Alex Brearley
+44 20 3328 5656
Joint Broker
Peterhouse Corporate Finance Limited
Lucy Williams
Eran Zucker
+44 20 7469 0930
About MTI Wireless Edge
MTI is engaged in the development, production and marketing of High Quality, Low Cost, Flat Panel Antennas for Commercial & for Military applications. Commercial applications such as: WiMAX, Wireless Networking, RFID readers &, Broadband Wireless Access. With over 40 years' experience, supplying antennas 100KHz to 90GHz including directional antennas and Omni directional for outdoor and indoor deployments including Smart Antennas for WiMAX, Wi-Fi, Public Safety, RFID and for Base Stations and Terminals - Utility Market. Military applications include a wide range of broadband, tactical and specialized communications antennas, antenna systems and DF arrays installed on numerous airborne, ground and naval, including submarine, platforms worldwide.
Via its subsidiary, Mottech Water Solutions Ltd ("Mottech"), MTI is also a leading provider of remote control solutions for water and irrigation applications based on Motorola's IRRInet state of the art control, monitoring and communication technologies. Mottech, headquartered in Israel, is the global prime distributor of Motorola for the IRRInet remote control solutions serving its customers worldwide through its subsidiaries and a global network of local distributers and representatives. It utilizes over 25 years of experience in providing its customers with remote control and management systems which ensure constant, reliable and accurate water usage, while reducing operational costs and maintenance costly expenses. Mottech's activities are focused in the market segments of agriculture, water distribution, Municipal and Commercial Landscape and Wastewater and Storm water Reuse.

This information is provided by RNS
The company news service from the London Stock Exchange
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