Orad Hi-Tec Systems Ltd: Orad doubles net profit to US-Dollar 2 million by the end of Q3/2010
Revenues increased by 18 percent to US-Dollar 21 million after nine months / US-Dollar 3 million net cash provided by operating activities / Cash and cash equivalents rose to US-Dollar 18.4 million
Revenues for Q3/2010 went up by 15 percent to US-Dollar 7.7 million compared to US-Dollar 6.7 million in Q3/2009. Net profit of Q3/2010 increased by 29 percent from US-Dollar 0.8 million to US-Dollar 1.1 million Cash Flow provided by operating activities amounted to US-Dollar 1 million in Q3. The gross margin was 72 percent, the same level as for the financial year so far and slightly higher than the 71 percent in the same quarter in the previous year.
As the income of TV companies has been going up, Orad has noticed that customers, including in Asia and East Europe, are increasingly willing to invest. TV companies are also investing intensified in the transition to the high definition technology (HD). In September, Orad launched several new solutions, i.e. for improving workflows and for the successfully introduced slow motion server.
The complete Q3/2010 results are available online at www.orad.tv under Investor Relations.
About ORAD Hi Tec Systems GmbH
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