Orad increases profit by 27% to US-Dollar 2.7 million in 2010
- Dividend proposal of US-Dollar 911 K
- Revenues come in at US-Dollar 29 million, up 9 percent from last year
- Gross margin increases to 70 percent in 2010 from 67 percent in 2009
- Cash rises to US-Dollar 19.1 million
Orad Hi-Tec Systems Ltd. (ISIN IL0010838071; Symbol:OHT), a world leading provider of state-of-the-art, 3D real-time graphic solutions for the broadcasting markets, increased its profit in financial year 2010 by 27 percent to US-Dollar 2.7 million. Last year profit amounted to US-Dollar 2.2 million. Revenues increased by 9 percent to US-Dollar 29 million during the period, after US-Dollar 27 million in revenues in the previous financial year. The gross margin also continued its ascent in 2010 to 70 percent, reflecting the competitive strength of Orad. The previous year's gross margin stood at 67 percent. At the end of financial year 2010, Orad had cash and cash equivalents of US-Dollar 19.1 million, an improvement in cash compared to the previous year's amount of US-Dollar 17.3 million, despite distributing a dividend of US-Dollar 1.8 million. Due to the positive earning development and solid liquidity situation, the company will distribute a total of USDollar 911 K in dividends for 2010, in line with its dividend policy. This amounts to earnings per share of US-Dollar 0.25 for 2010, following US-Dollar 0.20 in 2009.
For 2011, Orad expects business to develop even better than in 2010. Orad's new slowmotion server, which has already generated several orders worldwide, is the anticipated growth engine this year. Business development in Asia and North America is particularly positive at the moment.
The company will handle a conference call inviting the Press and Institutional Investors today, on March 2nd, 12:00 CET. The financial report 2010 will be presented by Ehud Ben- Yair, CFO of Orad Hi-Tec Systems Ltd.
To participate in the conference call please contact Diane Selge, edicto GmbH, on 0049-69- 90550553 or at email@example.com. You will get the dial-in-number.
The 2010 annual report is available online at www.orad.tv on the Investor Relations section.
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