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BATM ups 2018 guidance on the back of strong second half results in 2017
Real-time networking solutions provider BATM Advanced Communications told investors on Monday that full-year revenue would come in ahead of market expectations after its networking and cyber division, and its biomedical wing, both saw stronger than expected growth throughout 2017.
BATM now expects full-year revenue to come in at around $106m, for year-on-year growth of 17%, as EBITDA was pegged to hit $7m, up from the $2.8m posted a year earlier.
However, the firm noted that figure had been boosted by almost $5.6m of profits from a property disposal.
The firm's networking and cyber business saw better than expected sales during the period, predominantly due to growth in its existing information and communications technology services and solutions unit, and successes seen in the implementation of its strategy of leveraging the telecom industry transition from hardware to network function virtualisation and software-defined networking.
BATM said the revenue bump in its biomedical division was pushed higher by improved sales in its distribution unit, mostly based on diagnostic and molecular biology products and services.
The Israel-based group expected to publish its full-year results on 5 March.
As of 1150 GMT, shares had gained 6.55% to 26.10p.