– Quarterly revenue of USD 10.2 million is new record high for the company
– Net profit improved significantly to USD 0.8 million
– Half-year earnings per share at USD 0.14
– Full-year guidance confirmed
Kfar-Saba, Israel, 06 August 2014. Orad Hi-Tec Systems Ltd. (ISIN IL0010838071; Symbol: OHT), a leading developer, marketer and distributor of state-of-the-art 3D real-time graphics, video servers and MAM solutions for the broadcasting markets, today announced a very successful business performance for the second quarter of 2014. At USD 10.2 million, Orad recorded the highest quarterly revenue in its history. This represents a year-on-year increase of 41 percent compared to the prior-year revenue of USD 7.3 million. Net profit improved significantly to USD 0.8 million after Orad incurred a loss of USD 1.3 million in the prior-year period. With an equity ratio of around 52 percent and cash and cash equivalents of around USD 7.6 million as of the end of June 2014, Orad maintains a solid financial footing for future growth. Based on this positive development, the company confirms its guidance for the full 2014 financial year, which expects revenue to grow between 22 and 26 percent to USD 39 to 40 million with a margin between 6 and 8 percent in relation to the profit from operations.
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