Orad Hi-Tec Systems Ltd / Half Year Results
16.08.2010 11:33
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- Revenues increased by 19% from US$11.2 million to US$13.3 million
- Cash and cash equivalents of US$17.5 million on 30 June 2010 despite
dividend
Kfar-Saba, Israel, 16 August 2010. - Orad Hi-Tec Systems Ltd. (ISIN
IL0010838071; Symbol: OHT), a world leading developer and provider of
state-of-the-art, 3D real-time graphic solutions for the broadcasting
markets, continued to record profitable growth in the first half of 2010.
Revenues increased by 19 percent to US$13.3 million as opposed to US$11.2
million in the first half of the previous year. Net profit rose
disproportionately high from US$ 0.2 million in the first six months of the
previous year to US$0.9 million. The gross margin in the first half of the
year increased to 72% compared to 70% in the previous year's period. Cash
and cash equivalents amounted to US$17.5 million on 30 June 2010; at the
end of 2009, they came to US$17.3 million. A dividend of US$1.8 million
(gross) was distributed in Q2 2010, which must be taken into account when
looking at these figures.
In Q2 2010, revenues came to US$6.3 million, compared to US$5.6 million in
Q2 2009, corresponding to a 13 percent increase. Net profit of US$0.2
million fell short of US$0.4 million generated in Q2 2009, due to
invoicing. Cash flow from operating activities also developed positively
with US$0.7 million in the second quarter.
Orad continued to record growing demand, especially for the new products
introduced in recent months and also solutions for the sports sector. The
company is therefore optimistic about its future business development.
The Q2/2010 results are available online at www.orad.tv under Investor
Relations.
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Information and Explaination of the Issuer to this News:
About Orad Hi Tec Systems
Orad Hi-Tec Systems is a world leading provider of real time 3D broadcast
graphics solutions for the broadcasting markets, including: news, channel
branding, sports production and enhancement, special events, elections,
virtual studios, and virtual advertisement. Orad's compelling solutions
streamline production workflow, enhance viewer experience and improve
production value. Founded in 1993, Orad is a public company listed on the
Frankfurt Stock Exchange (OHT).
For more information, visit www.orad.tv
Contact:
ORAD Hi-Tec Systems Ltd
Ehud Ben-Yair
C.F.O
Tel.: +972 9 7676 862
ehudb@orad.tv
edicto Investor Relations, Frankfurt
Dr. Sönke Knop
Tel.: +49 69-90550551
sknop@edicto.de
16.08.2010 11:33 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: Orad Hi-Tec Systems Ltd
15 Atir Yeda str POB 2177
44425 Kfar Saba
Israel
Phone: +972-9-7676862
Fax: +972-9-7676861
E-mail: orad@orad.tv
Internet: www.orad.co.il
ISIN: IL0010838071
WKN: 928634
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Düsseldorf, Berlin, Stuttgart; Foreign
Exchange(s) London
End of News DGAP News-Service
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DGAP-Adhoc: Orad Hi-Tec Systems Ltd: Orad net profit US$0.9 million in the first half of 2010
| Source: EQS Group AG