LAS VEGAS, March 31, 2006 (PRIMEZONE) -- InRob Ltd. (OTCBB:IRBL), a leader in the development and production of advanced wireless control systems and integrated solutions for unmanned ground vehicles (UGV), today announced that it has posted a 31% increase in total revenues for the year ended 2005 over the prior year.
The Company has significantly improved its gross margin from 16.4% in 2004 to close to 41% in 2005, while other expenses remained basically the same as the prior year. As a result, InRob Tech saw positive net income for the year 2005 of over $100,000, following a loss of just under $350,000 in 2004.
"Our heavy investments in research and development over the last few years are now beginning to pay off," says InRob Tech CEO, Mr. Ben Tsur Joseph. "We knew that 2005 was the year that we would turn the tide from operating loss to operating profits and positive net income. Now, our sites are set on 2006 being a banner year for the Company, both in sales and profitability.
"I have stated on several occasions that we are now allocating a major part of our budget for business development efforts," adds Joseph. "This began in mid-2005, so we expect to see the impact of our marketing activities already in 2006. InRob Tech will always have to continue investing in R&D, but with the foundation of technology that we have built over the last three years, we can strive to be an industry leader without endangering the profitability of the Company."
About InRob Tech
InRob Tech is a Nevada-based high-tech company with a wholly owned subsidiary in Israel, specializing in the planning, manufacturing and service support of advanced wireless and remote control systems, operating all types of robots and other vehicles. The Company is a leader in its field, and supports the IDF (Israeli Defense Forces), Israeli police, and other military and civilian companies dealing with security. Founded in 1988, the Company works closely with other high-tech companies to provide the most advanced and comprehensive UGV solutions to the market.
For more information, please visit our web site at www.inrobtech.com.
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.