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| Carriers & Service ProvidersWireless OperatorsMSO/Cable OperatorsMunicipalities/UtilitiesEnterprise/Government | Financial News  01 April 2008Interim Management Statement RNS Number:2128RBATM Advanced Communications Ld 01 April 2008 BATM Advanced Communications Limited Interim Management Statement BATM Advanced Communications Limited ("BATM" or "the Company") (LSE: BVC),a leading designer and producer of Carrier Ethernet and metropolitan telecom systems, is today issuing its first Interim Management Statement, which covers the period from 1 January 2008 to 31 March 2008. Current trading update Performance in the first two months of 2008 was much stronger than in the same period in 2007. Revenues have grown by 69% over the same period last year and this trend has continued into March. We experienced growth in our OEM business as well as other channels, including increased revenue on sales to existing customers. Both gross and operating margins in the first 2 months of the year have been slightly better than those achieved during the same period last year. Financial position There has been no significant change in our financial position during the first two months of 2008. Our balance sheet remains very strong and we ended February with effective cash balances of $64.6m. Cash and deposits up to three months duration are $46.7 million, short term investment up to one year are $7.4 million and long-term investments of more than one year are $10.5 million. Acquisition of broadband multiplexer product line We are pleased to announce that Telco Systems, our US wholly owned subsidiary, has acquired the broadband multiplexer product line from Charles Industries. The acquisition will enable us to offer a complete range of solutions for cellular backhaul. The assets included in the transaction will extend our EdgeLink solution set to include features and technologies such as Ethernet over PDH not currently offered in our product family. This transaction does not affect our trading or financial position for the reported period. Outlook We are pleased with the company's performance during the first 3 months of 2008. Despite the general market conditions the positive momentum in the company's business is continuing. This underscores our confidence that we will continue to grow and strengthen our business for the rest of the year and we remain cautiously optimistic of our prospects for the year as a whole. - ends - Enquiries: BATM Advanced Communications +972 9866 2525 Dr Zvi Marom, Chief Executive Threadneedle Communications 020 7936 9606 Josh Royston / Graham Herring Kaupthing Singer & Friedlander Nicholas How / Marc Young 020 3205 7620 Shore Capital Graham Shore 020 7408 4090 About BATM Advanced Communications BATM is a world leader in the design and supply of IP packet-based systems such as high-capacity, self-routing switches with extensive QoS capabilities. For more information, visit the BATM Advanced Communications web site at www.batm.com Telco Systems is a wholly owned subsidiary of BATM Advanced Communications Based in Foxboro, Massachusetts; the company provides industry-leading networking solutions to the carrier and enterprise markets. Telco Systems' focus is to maximize the power of customers' networks by integrating transport, access, and packet technologies onto industry-leading platforms, therefore fully meeting today's and tomorrow's network requirements. For more information, visit the Telco Systems web site at www.telco.com This information is provided by RNS The company news service from the London Stock Exchange END http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1798150&source=RNS | Financial News Corporate Governance Today Stock Quote Annual Reports Interim Results Final Results Advisers and Registrars FAQ | |||||||||
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