MTI Wireless Edge wins $2.2m military order

MTI Computers and Software Services Ltd. (TASE:MTCO) subsidiary MTI Wireless Edge Ltd. (AIM:MWE) has won a $2.2 million order from an existing customer for the development and manufacture of military antennas. MTI Wireless Edge manufactures flat panel antennas for fixed wireless broadband. It did not disclose the name of the customer.

MTI Wireless will delivery the antennas over two years, and it expects to recognize $500,000 in revenue during 2010.

MTI Computers owns 52% of MTI Wireless. MTI Wireless' share price rose 1.9% at the opening on London�s Alternative Investment Market (AIM) to ₤0.135, giving a market cap of ₤7 million. MTI Computers's share price rose 1.3% in morning trading on the TASE to NIS 3.90, giving a market cap of NIS 44.5 million.

Published by Globes [online], Israel business news - www.globes-online.com - on June 15, 2010