M T I Wireless Edge : Q2 2021

MTI WIRELESS EDGE LTD. (An Israeli Corporation)

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

AS OF JUNE 30, 2021

MTI WIRELESS EDGE LTD.

(An Israeli Corporation)

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

AS OF JUNE 30, 2021

TABLE OF CONTENTS
	Page
Interim Consolidated Statements of Comprehensive Income	2
Interim Consolidated Statements of Changes in Equity	3-5
Interim Consolidated Statements of Financial Position	6-7
Interim Consolidated Statements of Cash Flows	8-9
Notes to Interim Consolidated Financial Statements	10-13

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MTI WIRELESS EDGE LTD.
(An Israeli Corporation)
INTERIM CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
				Six month period ended		Year ended
					June 30,	December 31,
	2021				2020							2020
						U.S. $ in thousands
				Unaudited
Revenues	21,344		19,605							40,893
Cost of sales		14,658			13,426								27,816
Gross profit	6,686		6,179							13,077
Research and development expenses	503		403							1,029
Distribution expenses	1,821		1,771							3,579
General and administrative expenses	2,203		2,087							4,379
Loss (profit) from sale of property, plant and equipment		)16(			8								14
Profit from operations	2,175		1,910							4,076
Finance expenses	140		168							275
Finance income		)14(			)91(								(255)
Profit before income tax	2,049		1,833							4,056
Tax expenses		315			293								564
Profit	1,734		1,540							3,492
Other comprehensive income (loss) net of tax:
Items that will not be reclassified to profit or loss:
Re-measurement of defined benefit plans	-		-							42
Items that may be reclassified to profit or loss:
Adjustment arising from translation of financial		)61(			)124(								253
statements of foreign operations
Total other comprehensive income (loss)		)61(			)124(								295
Total comprehensive income	1,673		1,416							3,787
Profit attributable to:
Owners of the parent	1,671		1,452							3,373
Non-controlling interests		63			88								119
	1,734		1,540							3,492
Total comprehensive income attributable to:
Owners of the parent	1,610		1,328							3,668
Non-controlling interests		63			88								119
	1,673		1,416							3,787
Earnings per share (dollars)
Basic		0.0189			0.0165								0.0383
Diluted	0.0189		0.0165							0.0383
Weighted average number of shares outstanding
Basic		88,531,224		87,881,376						88,093,025
Diluted		88,531,224		88,047,659						88,093,025

The accompanying notes form an integral part of the financial statements.

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MTI WIRELESS EDGE LTD. (An Israeli Corporation)

	INTERIM CONSOLIDATED STATEMENTS OF
			CHANGES IN EQUITY
For the six month period ended June 30, 2021 (Unaudited):
			Attributed to owners of the parent
				Capital
				reserve
				for share-			Total
			Additional	based			attributable	Non-
		Share	paid-in	payment	Translation	Retained	to owners of	controlling	Total
		capital	capital	transactions	differences	earnings	the parent	interest	equity
					U.S. $ in thousands
Balance at January 1, 2021	209	23,167	-	191	999	24,566	987	25,553
Changes during the three month period
ended March 31, 2021:

Comprehensive income

Profit for the period

Other comprehensive loss

Translation differences

Total comprehensive income (loss) for the period

Profit from acquisition of treasury shares (note 5B)

Dividend

Balance at June 30, 2021

-	-	-	-	1,671	1,671	63	1,734
-	-	-	(61)	-	(61)	-	(61)
-	-	-	(61)	1,671	1,610	63	1,673
-	5	-	-	-	5	-	5
-	-	-	-	(2,213)	(2,213)	-	(2,213)
209	23,172	-	130	457	23,968	1,050	25,018

The accompanying notes form an integral part of the financial statements.

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MTI WIRELESS EDGE LTD. (An Israeli Corporation)

	INTERIM CONSOLIDATED STATEMENTS OF
		CHANGES IN EQUITY (CONT.)
For the six month period ended June 30, 2020 (Unaudited):
			Attributed to owners of the parent
				Capital
				reserve
				for share-			Total
			Additional	based			attributable	Non-
		Share	paid-in	payment	Translation	Accumulated to owners of controlling	Total
		capital	capital	transactions	differences	losses	the parent	interest	equity
					U.S. $ in thousands
Balance at January 1, 2020	207	22,868	52	(62)	(658)	22,407	883	23,290
Changes during the six month period
ended June 30, 2020:

Comprehensive income

Profit for the period

Other comprehensive loss

Translation differences

Total comprehensive income (loss) for the period

Dividend

Exercise of options to share capital

Profit from acquisition and disposal of treasury shares Acquisition of the non-controlling interest in subsidiary Share based payment

Balance at June 30, 2020

-	-	-	-	1,452	1,452	88	1,540
-	-	-	(124)	-	(124)	-	(124)
-	-	-	(124)	1,452	1,328	88	1,416
-	-	-	-	(1,758)	(1,758)	-	(1,758)
1	24	(4)	-	-	21	-	21
-	8	-	-	-	8	-	8
-	(15)	-	-	-	(15)	)15(	(30)
-		-		2		-		-		2		-		2
208		22,885		50		(186)		(964)		21,993		956		22,949

The accompanying notes form an integral part of the financial statements.

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