Press release
Orad Hi-Tec Systems Ltd: Revenues and profit increased further after the first nine months of 2011
- Revenues for the nine months of 2011 increased by 22 percent to US-Dollar25.7 million
− Net profit for the nine months of 2011 improved by 15 percent to
US-Dollar 2.3 million
− Gross profit for the nine months of 2011 up 19 percent to US-Dollar 18.1
million
- Cash and cash equivalents amount to US-Dollar 13.4 million
Kfar-Saba, Israel, 21 November 2011. - Orad Hi-Tec Systems Ltd. (ISIN IL0010838071; Symbol: OHT), a world leading developer and provider of state-of-the-art, 3D real-time graphic and video solutions for the broadcasting markets, continued on its profitable growth path in the first nine months of 2011. Revenues came to US-Dollar 25.7 million from January to September, 22 percent up compared to the previous yearʼs figure of US-Dollar 21.0 million. Gross profit increased in the nine months of 2011 by 19 percent to US-Dollar 18.1 million compared to US-Dollar 15.2 million last year. Net profit increased by 15 percent to US-Dollar 2.3 million for the nine months of 2011, compared to US-Dollar 2.0 million in the first nine months of 2010. Despite distributing dividends of US-Dollar 5 million in the first nine months - of which US-Dollar 4.05 million in Q3/2011 - cash and cash equivalents came to US-Dollar 13.4 million at the end of September 2011.
Revenues for Q3/2011 went up by 17 percent to US-Dollar 9.0 million compared to US-Dollar 7.7 million in Q3/2010. Gross profit increased by 15 percent, from US-Dollar 5.6 million in previous yearʼs quarter to US-Dollar 6.4 million. Net profit for Q3/2011 was US-Dollar 0.8 million compared to US-Dollar 1.1 million in Q3/2010.
In Q3/2011, at the industry's largest tradeshow, the IBC in Amsterdam, Orad introduced its first joint solution with IBIS, in which the company has recently acquired a majority share. The Orad server has optimal access to managed media content - Media Asset Management - which makes the solution even more attractive.
The complete Q3/2011 results are available online at www.orad.tv under
Investor Relations.
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
ORAD Hi-Tec Systems Ltd
Ilan Sidi, CFO
ilan@orad.tv
Investor Relations
edicto GmbH
Dr. Sönke Knop
Eschersheimer Landstraße 42
60322 Frankfurt am Main
Frankfurt, Germany
+49 69-90550551
sknop@edicto.de
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