MTI Wireless Edge : August 8, 2017 - Q2 2017 Financial results

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR) 8 August 2017 MTI Wireless Edge Ltd ("MTI" or the "Company") Financial results for the six months ended 30 June 2017

MTI Wireless Edge Ltd. (AIM: MWE), a market leader in the manufacture of flat panel antennas for fixed wireless broadband and a wireless irrigation solutions provider, today announces its unaudited results for the six months ended 30 June 2017.

Highlights:

• Revenues increased by 13% year-on-year to $12.8m (H1 2016: $11.3m)

• Operating profit increased year-on-year by 79% of $0.9m (H1 2016: $0.5m)

• Profit before tax nearly tripled year-on-year to $1m (H1 2016: $0.35m)

• Earnings per share of 1.55 US cents (H1 2016: 0.45 US cents)

• Shareholder's equity grew during the period to $19.5m (31 December 2016:

$18.9m), equivalent to 28.2 pence per share (converted at 1.31 US dollar/ British Pound)

 Cash at 30 June 2017 of $4.8m (30 June 2016: $4.9m) Dov Feiner, CEO of MTI Wireless, commented:

"During the first half of 2017, we have continued to see growth in both segments of our business. In our wireless controller segment, via Mottech, we continue to see opportunities in various geographical areas, some of which we announced recently including in China, where we see traction from various sectors and territories. In the antenna segment we had a very good first half, in both the broadband access and RFID product lines, whilst in the military division we had good bookings and a good pipeline of opportunities, which provides us greater visibility of longer-term revenues. Given the current performance, order book and pipeline of opportunities in the antenna segment, we strongly believe that our growth will continue in 2017 and beyond."

For further information please contact:

MTI Wireless Edge Ltd Dov Feiner, CEO Moni Borovitz, Financial Director	http://www.mtiwe.com/ [phone]
Nomad and Joint Broker Allenby Capital Limited Nick Naylor Alex Brearley	[phone]
Joint Broker Peterhouse Corporate Finance Limited Lucy Williams Eran Zucker	[phone]

About MTI Wireless Edge

MTI is engaged in the development, production and marketing of high quality low cost, flat panel antennas for commercial and military applications. Commercial applications include: WiMAX, Wireless Networking, RFID readers and Broadband Wireless Access. With over 40 years' experience of supplying 100KHz to 90GHz antennas, including directional antennas and Omni directional for outdoor and indoor deployments including Smart Antennas for WiMAX, Wi-Fi, Public Safety, RFID and for Base Stations and Terminals - Utility Market. Military applications include a wide range of broadband, tactical and specialized communications antennas, antenna systems and DF arrays installed on numerous airborne, ground and naval, including submarine, platforms worldwide.

Via its subsidiary, Mottech Water Solutions Ltd, MTI is also a leading provider of remote control solutions for water and irrigation applications based on Motorola's IRRInet state of the art control, monitoring and communication technologies. Mottech, headquartered in Israel, is the global prime distributor of Motorola for the IRRInet remote control solutions serving its customers worldwide through its subsidiaries and a global network of local distributers and representatives. It utilizes over 25 years of experience in providing its customers with remote control and management systems which ensure constant, reliable and accurate water usage, while reducing operational costs and maintenance costly expenses. Mottech's activities are focused on the market segments of agriculture, water distribution, Municipal and Commercial Landscape and Wastewater and Storm water Reuse.