Orad Hi-Tec Systems Ltd / Final Results
01.03.2010 09:32
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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- Net profit rise 44 percent to US-Dollar 1.1 million in fourth quarter
- Revenues come in at US-Dollar 9 million, up 12 percent on same quarter in
2008
- Cash rises to US-Dollar 17.3 million
Kfar-Saba, Israel, March 1, 2010. Orad Hi-Tec Systems Ltd. (ISIN
IL0010838071; Symbol: OHT), a global developer and distributor of
state-of-the-art, 3D real-time graphic solutions for the broadcasting
markets, has posted record revenues and profit figures for the fourth
quarter 2009. Revenues in the final quarter of the year rose by 12 percent
to US-Dollar 9 million after coming in at US-Dollar 8 million in the same
quarter in 2008. Orad's profits recorded an above-average increase,
boosting net profit by 44 percent to US-Dollar 1.1 million compared to
US-Dollar 0.8 million in the same quarter of the previous year. After a
slow start to 2009 due to the worldwide financial crisis, Orad returned to
its growth track towards the end of the year.
For the full year 2009, revenues came in at US-Dollar 26.9 million, falling
16 percent short of the previous year's mark of US-Dollar 31.9 million. Net
profit amounted to US-Dollar 2.2 million, which is a decline of 37 percent
on the previous year's figure of US-Dollar 3.4 million. There was upbeat
development in the company's cash flow, which came in at US-Dollar 2.5
million in 2009. This resulted in the already good cash position, from
US-Dollar 14.8 million at the end of 2008 improving further to US-Dollar
17.3 million by the end of 2009. The gross margin was recorded at around 68
percent, on a par with the previous year.
In the past year, the company was able to sell almost 100 systems of the
newly launched product 'Morpho', a competitively priced 3D solution for
entry-level users. In addition, the virtual studio provider recorded high
demand in high-end business thanks to the cost reductions enabled by its
solutions - an invaluable advantage in these testing economic times. Orad
was also able to tap another attractive market by successfully entering the
market for slow motion servers in Q4 2009. Orad is anticipating successful
business development in 2010 on the back of the positive figures and order
situation from Q4 2009.
The 2009 annual report is available online at www.orad.tv.
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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, including; news, channel branding, sports production
and enhancement, special events, 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
For further information please 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 608494859-1
sknop@edicto.de
01.03.2010 09:32 Ad hoc announcement, Financial News and Media 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 Berlin, München, Düsseldorf, Stuttgart, Hamburg; Foreign
Exchange(s) London
End of News DGAP News-Service
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DGAP-Adhoc: Orad Hi-Tec Systems Ltd: Orad posts record revenues and profit in the fourth quarter 2009
| Source: EQS Group AG