BATM Advanced Communications, a leading provider of telecommunications technology and medical-laboratory systems, has announced a significant increase in pretax profit for the first half of the year. The company’s growth in both the networking and cyber and biomedical divisions has contributed to this positive outcome. BATM expects its full-year performance to align with market expectations.
Impressive Financial Results
BATM reported a pretax profit of $726,000 for the first half of the year, representing a notable improvement compared to $611,000 during the same period last year. Furthermore, the company’s revenue rose to $60.2 million, up from $57.51 million.
BATM is optimistic about the second half of the year, as it has already experienced sustained revenue growth and an increased backlog. The company anticipates further growth in its networking division for the full year, and it expects higher cyber business revenues in the second half compared to the first half.
Meeting Market Expectations
BATM is confident in its ability to deliver on market expectations, aiming to achieve year-on-year growth in 2023. The company’s positive performance so far suggests that it is on track to meet these targets.