The main points at the Year end results were:
* Strong cash position: $55.2 m and no borrowings (2001: $56.6m)
* Significant R&D program maintained
* General and administrative overheads reduced by 37% - in line with strategy
* Awarded an exclusive contract with a leading regional Bell operating company in H2
* Won first major contract for VOIP platform in the US

The company is increasing its presence in several markets which have substantial potential, including the Far East and despite the recent decline in revenues, they are now serving more customers in more countries than ever before.

Dr Zvi Marom, Chief Executive has ensured the company is debt free and cash rich. He has kept a tight control on expenditure and been very smart as to whom he chose to do business with.

The high speed Internet business just taking off and systems have to be upgraded to take up high data load and telcos simply need equipment’s made by makers like BATM.

With time, Financial Institutions will seek out companies which represent good value and strong potential in terms of their growth and BATM is one such company.

BATM shares are trading at cash position 8.50p but at half their NAV of 17p, with all this good points, and the trend on the chart is definitely on the up since the start of April, time to get on board. Dates -- News
09 Dec 08 Signed a contract of medical equipment in excess $1m with substantial upside in the future
07 Jan 09 Revenues will exceed $132m for the full Year 2008, results early March
17 Mar 09 Year results Pretax rise 20% sales 39% and dividend to 0.69p
1 April 09 Vigilant Technology Expands Operations to US & Singapore
12 May 09 Update - cautiously optimistic it will meet targets
14 May 09 CEO Zvi Marom, buys 200,000 shares @ 31.375p
Newspaper comments
18 Dec 2008 Share Magazine selects BVC for the Growth Portfolio
18 Dec 2008 Share Magazine selects BVC for the Growth Portfolio
05 Feb 2009 investegate/article Investech shareholding
18 Mar 2009 CEO video after results - post 19569
18 Mar 2009 Investors Chronicle says "BUY" after 2009 results -

Intraday

4 month candkestick with Indicators ad support /resistance

6 month Bollinger Bands,RSI, S Stochastic and 50 days MA

Charts - 5 days

Links    batm web    Vigilant Web    PLUS Market Trades

           

For those that got the time this weekend, a good reading

The information Technology & Innovation foundation | march 2009

The Need for Speed: The Importance of Next-Generation Broadband Networks
http://www.itif.org/files/2009-needforspeed.pdf

BVC was tipped in moneyweek last Friday.............

As most of the West shrinks into recession, one area bucking
the trend is the internet. Growth is slowing, but the amount of
online traffic is still rising by more than 50% a year.This is
being driven by new, data-hungry applications, such as peer-topeer
file sharing and online TV, along with the increasing
number of broadband users. With government stimulus
packages set to plough investment into the digital age and
more families deciding to enjoy a cheap night in, this growth
rate could actually
accelerate.

One stock that has been benefiting from the online boom is Israeli firm BATM.
The company specialises in niche broadband routers
and switches that help network operators to cut their running
costs, increase their bandwidth and deliver innovative new web 2.0 services.
So how is the business faring? At Januarys trading update,
performance was still on track, despite some of its larger
rivals such as Ciena and Cisco reporting difficulties.
Preliminary results for 2008 are out this month, with house
broker Shore Capital expecting sales and underlying earnings
per share of $132m and 7.7 cents.That means the stock
trades on a ludicrously cheap p/e of less than five, and
has about $60m (around 11p a share) of cash in the bank.
Id value the firm on a ten-times through-cycle operating
profit multiple, discounted back at 12% generating an intrinsic
worth of around 50p per share.
Potential snags are that this is a small firm with heavyweight
rivals. Its also sure to be hit near term by customers deferring, or
even cancelling, orders. But with blue-chip customers, first-rate
proprietary products and the potential to benefit from Nortels
recent demise, I rate the stock a buy. There will be bumps along
the way, but with the long-term fundamentals still intact, coupled
with its sound balance sheet, investors can afford to be patient.
Recommendation: speculative BUY at 24p (market capitalisation 92m)

Looking forward to tomorrows trading and hoping for a continuation of the movement UP. The change to UPTREND would be on the cards then.



a closer short term chart

The resitance at 27p, is now BROKEN
Looks like the MM toke the 27p away from the Offer after a 25K buy at the LSE, not waiting for the "AT" to be activated

shares at 27 / 27.50p now

On the UP

Level 2

Buyers (bid side)

12,500 x 27
10,000 x 27
25,000 x 26.75
25,000 x 26.75 (Scap)

Selling ( Offer Side)

5,000 x 27.5 (Wins)
24,000 x 27.5
4,000 x 27.5
5,000 x 28 (Evo)

Gone up to 27.25 / 27.50p, and ready for a further move up as

Someone paying premium earlier on for 36K, could be cos is over the 25K NMS or is a Longer settlement T+15 or 20 days

After that trade the offer should be taken with an "AT" with time.

spread 27.25 / 27.50p
10/03/2009 14:30:23 27.69 36,067

Will we hold the new TREND after tomorrow?

everything crossed for tomorrow?

"finger crossing" is a good measure

Tomorrow is the DAY

Year results on Tuesday 17 March

RESULTS out last Tuesday 17

Full Year Highlights

+-----------------------------+---------------+---------------+
| Year ended 31 December | 2008 | 2007 | Change %
+-----------------------------+---------------+---------------+
| Revenue | $134.5m | $96.9m | + 39 |
+-----------------------------+---------------+---------------+
| Gross profit | $61.3m | $45.5m | + 35 |
+-----------------------------+---------------+---------------+
| Operating profit | $23.9m | $16.6m | + 44 |
+-----------------------------+---------------+---------------+
| Pre-tax profit | $24.0m | $20.0m | + 20 |
+-----------------------------+---------------+---------------+
| Net profit | $24.5m | $20.1m | + 22 |
+-----------------------------+---------------+---------------+
| Profit per share | 6.19c | 5.08c | + 22 |
+-----------------------------+---------------+---------------+

Highlights
- Revenue growth of 39% to $134.5 million, despite challenging markets
- Operating profits of $23.9m - up 44% over 2007
- Record net profit of over $24 million - up 22% over 2007
- Strong balance sheet maintained with $57 million in liquid investments
- Recommended dividend of 0.69 pence per share (2007: 0.50 pence)

Day after the results

The INDEPENDENT - Wednesday, 18 March 2009
BATM
Our view: Buy
Share price: 26.75p (-2p)

Most chief executives would claim that a 20 per cent hike in full-year pre-tax profits and a jump of 39 per cent in revenues was an indication that their company was doing a super job, despite the recession.

For Zvi Marom, the boss of BATM, however, the full-year numbers are bittersweet. "We could have grown by 60 per cent or 70 per cent had it not been for the recession," he says, arguing that investors should set little store by quarterly, half-yearly or even annual results.

Regardless of Mr Marom's aversion to short-term indicators, investors will be encouraged that the stock is up 15 per cent in the last month, largely in anticipation of yesterday's numbers from the group, a technology company that provides broadband and telecoms systems and services.

Mr Marom says that he is cautiously optimistic about 2009, but that the economic strife will hit his business and everyone else's too, and that investors are far better buying into a stock for the longer term. A company, like his, that is naturally cautious and sticks to its strategy through good times and bad, is the best bet, he claims.

The stock is not expensive, say watchers, despite the impressive growth in the last month, and BATM's numbers prove that it is coping well. While it is unlikely to generate huge excitement, investors need stocks that have plenty of the long term "steady-as-she-goes" characteristics. Buy.

CEO video after the results ...........

Executive Videos for March 17, 2009 | Big Winner

Zvi Marom, Chairman of BATM Advanced Communications:

http://www.bigwinner.org/2009/03/18/executive-videos-for-march-17-2009/

Most likely will have a recomendation on Tomorrows IC or week after .......

Investors Chronicle ( comment on the results yesterday)

BATM charges ahead
Created: 18 March 2009 Written by: Malar Velaigam

Continued strong demand for BATM's computer network traffic control products has propelled the company's revenue to record levels. With new geographies and markets starting to bear fruit, chief executive Dr Zvi Marom remains optimistic on future prospects.

Dr Marom attributes the continued double-digit growth in revenues to demand for BATM's cost effective telecoms products from key players such as AT&T and Verizon. The top line has also been lifted by a full year's contribution from its medical business, which uses BATM's technology to manage network equipment in the medical sector. This operation generated sales of $18.4m (13.2m) last year, and even made a "small" pre-tax profit. The division has been bolstered through the acquisition of an Italian clinical chemistry diagnostic company and Dr Marom expects "significant" growth here in 2009 and 2010.

BATM has continued to plough back earnings into research and development (R&D) which increased by over a third to $12.8m. Dr Marom says BATM has "some pretty innovative stuff" coming out this year and in 2010 and notes that the first two months of 2009 have started "positively."

Analyst Tintin Stormont of Singer forecasts of pre-tax profits at $22.2m and EPS of 5.2 (2008: 6.9) assume flat revenues and a lower gross margin due to the growing contribution from the medical business.

edit - EPS, should read (2008: 6.19)

Retracement of 68% since results on Tuesday, 29.25p intraday high to 24.50p closing price yesterday.
How far down will SHE go before the bounce?

Indicators - blue line - RSI, green line - Slow Stochastic

Dollar sell-off gathers momentum

The dollar dropped to a two-month low on a trade-weighted basis on Thursday as its sharp sell-off gained momentum after the Federal Reserves surprise decision to embark on a quantitative easing approach to monetary policy.

The announcement by the Fed on Wednesday that it would buy $300bn in long-term Treasuries surprised investors, who were expecting the central bank to wait and study the effect of previously announced measures to ease credit conditions.

Lee Hardman, of Bank of Tokyo-Mitsubishi UFJ, said the aggressive expansion of the Feds balance sheet was likely to lead to further losses for the dollar. The dollars decline reflects both its diminished appeal as a store of value and reduced relative yield appeal, he said. The Feds shock-and-awe approach clearly marks it out now as the most aggressive central bank in its response to monetary easing, which should weigh on the dollar.

The dollar, which on Wednesday had its weakest performance against the euro since the creation of the single currency in 1999, fell further on Thursday.

By midday in New York, the dollar had fallen 1.5 per cent to $1.3725 against the euro, lost 1.7 per cent to $1.4555 against the pound, dropped 1.8 per cent to SFr1.1175 against the Swiss franc and eased 2.4 per cent to Y93.70 against the yen.

The dollars losses were most acute against the Norwegian krone. The krone, which was supported by rising oil prices and its growing haven status, rose 3 per cent to a five-month high of NKr6.3201 against the dollar and climbed 1.4 per cent to NKr8.6751 against the euro.

The dollar has attracted haven flows in recent months as investors flocked to the relative safety of the US currency as stock markets tumbled. This deleveraging has made it one of the best-performing currencies so far this year.

However, Neil Mellor, of Bank of New York Mellon, said that while the Feds action meant the dollar no longer possessed the haven appeal it had, currency investors had not necessarily entered a new world.

If we get another sell-off in stocks then we could still see people scramble for the dollar, he said.

Indeed, Marc Chandler, of Brown Brothers Harriman, said the Feds action was not necessarily a game-changer for the dollars strength. Our big macro-view was that the de-leveraging which we believe has been the big driver of the foreign exchange market would fade and be replaced by a return of anticipated growth trajectories [among major economies], he said.

Thus, while the dollar might suffer in the short-term, Mr Chandler said, once markets realised that the aggressive Fed action was likely to deliver a recovery in the US more quickly than for other economies, the currency would rise.

Over the slightly longer term, we continue to believe that the aggressiveness of the US policy response dramatic inventory correction will be rewarded with an earlier recovery than in Europe and Japan, he said.

The Dollar against the Pound
-------------Intraday chart ------------------------1 year chart

Comment from David Schwartz -- F.T.com - 21 March 2009 -

As far as my own trading is concerned, one recent buy was BATM Advanced Communications, the designer and producer
of broadband data and telecoms systems

BATM shares fell sharply in the second half of 2008 because of poor market conditions, plus fears that telecom network
providers would cut back on capital investments.

But the experts were wrong. The companys 2008 profits came in 22 per cent ahead of 2007. BATM also states it saw
no sign of a slowdown in the first two months of 2009.

In spite of this positive outlook, shares have fallen since the latest earnings report was released last Tuesday.
Investors clearly remain concerned about BATMs 2009 prospects.

But they ignore that the company is a profitable, dividend payer with a price-to-earnings ratio below six quite low,
regardless of underlying market conditions. Another plus is that its mobile network management equipment improves
network efficiency. Network operators might wish to reduce some capital investments during hard times but
it is less likely that they will cut back on products that improve profits.

It is also worth noting that the company is shifting to a software-style business model which will provide initial licence
fees followed by periodic servicing revenues. As a result, its future earnings stream will be smoother and more predictable.

One final plus is BATMs expansion into markets such as surveillance and medical devices. It recently took advantage
of unsettled economic conditions to make several small bolt-on acquisitions in these areas.

All together, I believe the City had overdone its concerns about BATM and a recovery is on the cards.

http://www.ft.com/cms/s/2/b093eba2-1579-11de-b9a9-0000779fd2ac.html

Someone nibling 1,17 million after results and moving over 5%...........

J O Hambro Capital Management Group Limited

Date of transaction (and date on which the threshold
is crossed or reached if different) on 19 March 2009

New Holding 20,681,280 shares - 5.16% ( 19,664,493 shares )

Reason for disclosure moving over 5%

an easier chart for dopes like me to read!



if sp can now breach this 25/50 dma hurdle, then tasty run could/should be on the cards

Another rise today as the order book is strong.

The "AT" have been busy as some large trades are going on and volume goes to over 2M

cynic

re- an easier chart for dopes like me to read!

If only we could know the days for the the lines of the Moving averages, then we could all enjoy.

I do know the GREEN one is 50 MA