What it does
The networking and cyber division offers telecoms and network solutions, focusing on advanced software and cybersecurity, to tier 1 businesses and governments worldwide.
The bio-medical division focuses on the development and provision of diagnostic lab equipment as well as products to treat biological waste products from the medical, agricultural, and pharmaceutical sectors.
The group is listed on the main board of the London Stock Exchange and is headquartered in Israel with offices in North America, Europe, and the Far East.
How is it doing
In its results for the six months ended June 30, 2020, the networking solutions and medical laboratory provider reported earnings (EBITDA) of US$5.3mln, up 36.2% year-on-year, while revenues surged 37.7% to US$77.4mln.
The stronger performance appeared to be mainly attributed to the firm’s Bio-Medical division, its largest business segment, which saw revenues climb 65% in the year to US$50mln, helped by strong demand for the company’s coronavirus diagnostic tests. Meanwhile, the company’s networking and cyber arm saw revenues increase by 5.3% to US$27.4mln.
Looking ahead, BATM said it has entered the second half with a “substantially higher backlog” than at the same time last year, with revenues now expected to increase 32% for the full year alongside a 48% rise in EBITDA, significantly ahead of market expectations.
The group also said its “strong cash position” of US$44.3mln at the end of the first half combined with expected cash generation for the second half gave it the confidence to reinstate its dividend for the full year 2020.
BATM also recently launched three coronavirus testing kits which it said will “significantly advance” the diagnosis of coronavirus and other respiratory illnesses.
In early August, the company also said its subsidiary, Telco Systems, has worked with computer chip maker Arm to complete a proof of concept for a uCPE, which includes the company’s NFVTime operating system, that has been tested by Vodafone Group PLC (LON:VOD).
What the boss says: Zvi Marom, chief executive
In the company’s half-year results, Marom said the company’s “strong balance sheet” will support a “ramp-up in activities that will ensure our growth for years to come as well as enable us to pursue potential acquisition opportunities to accelerate growth in our key strategic areas”.
“As a result, the board continues to look to the future with great confidence”, the CEO added.
- Growth in testing kits production and sales
- More coronavirus-related orders
- NFVTime momentum builds strongly