Press release BoxID: 121484 (ORAD Hi Tec Systems GmbH)
  • ORAD Hi Tec Systems GmbH
  • Takustraße 1-3
  • 50825 Köln
  • Contact person
  • Sönke Knop
  • +49 (69) 90550-551

Orad posting record earnings in Q2 2007

Sales up by 13 percent to USD 5.2 million. Positive business development to continue in second half of the year

(PresseBox) (Köln, ) Orad Hi-Tec Systems Ltd. (Frankfurt - Prime Standard; London - AIM. Symbol: OHT), a leading developer, marketer and distributor of state-of-the-art, 3D graphical solutions for the broadcasting, advertising and visual simulation markets, remained firmly on its growth track in Q2 2007. Sales were up by 13 percent to USD 5.2 million against USD 4.6 million year-on-year. Net income increased at a disproportionately high rate of 27 percent reaching USD 0.33 million, after the previous year’s quarter closed with USD 0.26 million. The gross profit margin improved from 60 percent in Q2 2006 to now 69 percent. The development of liquid assets was also very positive and increased to USD 11.4 million as of 30 June 2007 against USD 9.5 million at the end of June 2006.

In the first half of 2007 Orad increased sales to USD 9.9 million after USD 8.9 million in the previous year. Net income for the first half of 2007 was recorded at USD 0.45 million compared to USD 0.40 million in the first half of 2006.

Successfully marketing Orad products in North and South America was one of the growth drivers in Q2 2007. In the period under review the North and Central American football association CONCACAF purchased TV graphics systems for several hundred thousand dollars. Given this extremely positive development in orders Orad believes that business is going to continue to develop positively in the second half of the year.

ORAD Hi Tec Systems GmbH

Founded in 1993, Orad is a world leader in TV production technology and is rapidly increasing its position in the real time 3D graphic market. Orad’s product line includes virtual sets, on-air graphics systems, channel branding, virtual advertising, sports production solutions and hardware for the Virtual Reality industry. Orad is a publicly traded company in the Prime Standard on Frankfurt’s Wertpapierbörse Prime Standard and AIM Market of the London Stock Exchange (symbol: OHT)