BATM sees its profit tumble

Israeli telecoms equipment firm BATM Advanced Communications posted a fall in its full-year profit, hurt by a decline in sales to its key customer Nokia Siemens Networks (NSN). Although the firm maintained its final dividend of 0.8p per share, it scrapped its interim dividend for 2011. For the year ended 31 December pre-tax profit was $194,000 (£119,748), compared with $19.3m last year. Revenue fell 11 per cent to $120.6m. Gross profit margin fell to 35.4 per cent from last year's 42.6 per cent.