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

(PresseBox) ( Kfar-Saba, Israel, )
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 and increasing order intake in Q3 2010. Net profit came to US-Dollar 2 million after the first nine months in 2010, 97 percent up on US-Dollar 1 million in the previous year. Revenues increased by 18 percent to US-Dollar 21 million as opposed to US-Dollar 17.9 million in the same quarter in the previous year. Net cash provided by operating activities amounted to US-Dollar 3 million and cash and cash equivalents rose to US-Dollar 18.4 million at the end of Q3/2010.

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.
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