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Orad Hi-Tec Systems Ltd reports net profit of US-Dollar 1.2 million for 2012
Dissemination of an Ad hoc announcement according to § 15 WpHG
In the second half of 2012, the company's business was affected from the economic uncertainty especially in Europe, resulting in longer sales cycles and delays in customers' investment decisions. Furthermore, the slowdown in the second half of the year is mainly due to less investments post big events such as U.S. elections, Olympic Games and other sport events.
The fourth quarter of 2012 in particular was impacted by these changes. Revenues in the fourth quarter of 2012 were US-Dollar 7.1 million, a decline of 25.8 percent compared to the previous year's figure of US-Dollar 9.6 million. The company posted a net loss of US-Dollar 0.6 million in the fourth quarter of 2012. This compares to a net profit of USD 1.1 million in the prior-year quarter.
Given its good positioning in the market, Orad expects to return to a course of growth in 2013.
The 2012 Annual Report is available online at www.orad.tv under Investor
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