Orad Hi-Tec Systems Ltd presents its figures for the first nine months of 2012
- Revenues for the first nine months of 2012 increased by 8.5 percent to USD 27.9 million
- Gross profit up 6 percent to USD 19.1 million
- Operating profit amounted to USD 1.6 million compared with USD 2.3 million in the previous year
Orad Hi Tec Systems Ltd. (listed in Frankfurt Stock Exchange, symbol OHT), a world-leading provider of real-time 3D broadcast graphics, and video server solutions to TV stations worldwide, increased revenues in the first nine months of 2012 by expanding its product range and tapping into new markets. Revenues for the period from January to September 2012 went up by 8.5 percent to USD 27.9 million compared with USD 25.7 million last year. Gross profit increased by 6 percent from USD 18.1 million to USD 19.1 million.
Earnings in the reporting period were down year on year due to a slowdown in Orad's main markets, Europe in particular. The operating profit amounted to USD 1.6 million compared with USD 2.3 million last year. Net profits came to USD 1.6 million after USD 2.3 million in the previous year's period.
Despite distributing dividends totaling USD 3 million in the first nine months of 2012 - of which USD 1.01 million were distributed in Q3/2012 - Orad had USD 8.3 million in cash and cash equivalent at the end of September 2012. Equity at the end of the reporting period amounted to USD 16.9 million.
In Q3 2012, revenues came to USD 8.8 million, compared with USD 9 million in Q3 2011. Gross profit amounted to USD 5.9 million, compared with USD 6.4 million in the previous year's period. The operating profit came to USD 11,000 compared with USD 1 million in Q3/2011, while net profits amounted to USD 122,000 compared with USD 823,000 in Q3/2011.
Business in the United States developed positively. Orad has become a leader in election coverage. Orad equipment and solutions were used by four leading US broadcasters during and after the US elections. The company is currently holding talks with leading media companies in the United States and Europe to sell equipment and solutions.
ORAD Hi Tec Systems GmbH
"Orad Hi Tec Systems" is a world-leading provider of real-time 3D broadcast graphics, video server solutions and media asset management including news, elections and other special events, and also provides virtual studios and virtual advertisement solutions for leading broadcasters worldwide. The company is engaged in long term relationships with a variety of leading customers in the global TV industry and its comprehensive solutions give its customers an added value and enhanced video experience. The company's products won a number of awards for their high technological level and quality. Founded in 1993, Orad is a public company listed on the Frankfurt Stock Exchange (OHT). Further information about Orad can be found at www.orad.tv.