Broadband and military antenna developer MTI Wireless Edge moved back into profit in the third quarter of 2010.
It was a small profit and MTI remains loss-making in the nine months to September 2010.
Israel-based MTI says the improvement that started at the end of the second quarter continued into the third quarter. Third quarter revenue edged up to $3.5m and that was the first time since 2008 that the company’s revenues have been higher than the previous quarter.
Revenues fell from $10.3m to $9.65m in the nine month period. There was a swing from a profit of $243,000 to $537,000.
MTI says its order book has improved.
Net cash and financial assets were $11.9m at the end of September 2010.
At 12.75p a share, MTI is valued at £6.58m, which is les than the cash and financial assets.
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