Altobridge expects busy 2012
THE chief executive of the Kerry-based technology firm Altobridge expects 2012 to be its busiest year so far, after it secured a number of new orders.
Mike Fitzgerald told the Irish Independent yesterday that Altobridge had experienced significant demand for its technology, which allows low-cost, low-power mobile base stations to be deployed in remote areas.
Among the countries Altobridge works in are Indonesia and Iraq.
Accounts just filed for the business, whose chairman is former tanaiste Dick Spring, show turnover jumped to $13.7m (€10.3m) in 2010 from $6.5m in 2009. It also swung into the red, posting a $2m operating loss, compared to a $2.75m profit a year earlier.
Mr Fitzgerald said the numbers were affected by its acquisition of at the very end of 2009 of Californian company ADC Mobile Networks.
"The focus has really been on 2012," said Mr Fitzgerald.
He declined to comment on a case listed to be heard in the High Court tomorrow, where Altobridge co-founder and chief financial officer Bart Kane is fighting an attempt by the company to make him the subject of a disciplinary hearing.