Orad Hi-Tec Systems Ltd closes second quarter of 2009 with a profit of US$ 0.4 million
Orad recorded revenues of US$ 11.2 million in the first half of 2009, after generating US$ 15.7 million in the corresponding period of the previous year. Profit for the first half year amounted to US$ 0.2 million after coming in at US$ 2.0 million in the first half of 2008. In the second quarter, the gross profit margin remained at the level of the previous quarter of 70 percent and therefore beat the comparative figure for the previous year of 67 percent. As of the end of the reporting period, Orad had cash totaling US$ 13.7 million. The decline compared to last year's value of US$ 15.2 million was mainly due to the increase in receivables. Earnings per share amounted to US$ 0.02 in the first half of 2009 after totaling US$ 0.18 in the first half of the previous year.
The full six months report is available on the internet at www.orad.tv.
ORAD Hi Tec Systems GmbH
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 and 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