MTI Wireless Edge in multiple contract win

MTI Wireless Edge, which develops and manufactures sophisticated antennas and antenna systems, has been awarded a new military contract in addition to a number of commercial orders.

Together, the agreements are worth $2.0m, bringing the total order book to $7.5m, of which $6.6m is credited to 2013.

MTI's Chief Executive Officer, Dov Feiner, said: "We are delighted with these orders especially the one from the military sector, which gives us confidence in the long term prospects of this segment, which we are well positioned to fulfil."

The share price leapt 25.93% to 8.50p by 09:07.

NR