An old favourite of mine - tiny Israeli based company making electronic tagging devices for security/prison agencies and also for medical use

You have to buy a few at a time as the shares are not very liquid .....


ains


Mid price as we start - 49.5p current 67.5p increase 36.36% (09/05)




last news was a trading update

5.01.03 :-5.5, (52) in a trading update, says it expects 2002 full year results to be in line with those of the previous year, in terms of both sales and gross profit, reflecting modest underlying business growth. Operational expenditure in the second half of the year was higher, showing an increased investment in our new US subsidiary. The second half has ended profitably and with a sound balance sheet. The past year saw important market opportunities being realised, setting a number of significant milestones for both Elmo-Tech and HomeFree, which are expected to bear positive effect in the coming trading periods. US trading conditions in the law enforcement were conflicting during the year. While budgetary constraints are forcing corrections agencies to cut prison budgets, setting the ground for growth of community based solutions, the depth and immediacy of the cuts have also affected the immediate growth of electronic monitoring programs. The company view this as a temporary slow down, expecting sales for 2003 in the region to recover and continue to regard the US as highly material to the company's future growth. Outside the US, Elmo-Tech continued to substantiate its leading market position, winning new contracts in Scotland, France, The Netherlands and Singapore and expanding existing business in Europe and the Pacific Rim. In the Telehomecare field, our efforts have been focussed on setting up the new US based subsidiary, positioning the new company and its range of products within its local target market and laying the infrastructure for country-wide distribution. Market feedback is encouraging. Dmatek CEO, Yoav Reisman commented: "We continue to make progress both financially and strategically. Our business is profitable and our balance sheet is strong and I remain confident in Dmatek's future." The company also announced the appointment of Michael Bennett to the Board as a non-executive director. Michael Bennett, 37 is an Investment Director at LMS Capital , the venture capital arm of London Merchant Securties.

Recent price drift has stopped and hopefully reversed


CAS Dmatek Ld : Wins 3 yr contract in NSW
21-Apr-2004 07:24

Dmatek today said that Elmo-Tech, its
wholly owned subsidiary, has won a
three-year contract for tagging
equipment, technical support and
maintenance services in New South
Wales, Australia.
Immediate revenues from the new
contract are over $1m and the total
value is expected to reach some $2m
over the life of the program. The
agreement includes two one-year
extension options.
This contract follows an existing
contract with the NSW Department of
Corrections won by Elmo-Tech in 1998.
Further to a competitive tender process
during which it has extensively field
tested a number of systems, the NSW DOC
has decided to upgrade its currently
used Elmo-Tech systems to the new E3
monitoring platform.
The order includes a combination of
landline, cellular and mobile
monitoring units.
In March, Dmatek announced the sale of
a first E3 system, combining a standard
tagging system with a voice
verification module, to the programme
run by the Ministry of Justice in
Barcelona, Spain. The company's voice
verification technology was also
recently installed with customers in
England and the US.

Edited News from Dow Jones
0624 GMT Apr 21 2004

quite a few delayed buys now showing