Search Share Prices
MTI Wireless wins £1m wireless irrigation contract
Flat panel antenna and wireless irrigation provider MTI Wireless Edge announced on Tuesday that its wholly owned subsidiary Mottech Water Solutions has secured a contract worth approximately $1m.
The AIM-traded company said the contract with Mottech, a distributor of Motorola for the IRRInet remote control solutions based in Israel, is for the implementation of a wireless irrigation control system.
The company utilises Motorola control, monitoring and communication technologies to provide its remote control solutions for water and irrigation.
Mottech's General Manager, Dudi Shani, commented: "We are delighted with this additional contract win, which demonstrates our products, technology and service. This order allows us to expand and strengthen our position in the Israeli landscape irrigation market. We aim to complete the installation of this order within the next 12 months."
The news comes a week after MTI's shares dropped 14.7% to 25.5p as the company said its first quarter revenue and profit fell, but it expects to achieve increased revenues and profits for the full year.
The company said that for the three months ended 31 March profit before tax fell to $0.166m from $0.233 a year ago, while revenue fell to $6.16m from $6.21m.
As of 0959 BST, MTI Wireless Edge's shares were up 4.96% at 27.29p.