Arotech Corporation announced unaudited consolidated earnings results for the quarter and six months and second quarter ended June 30, 2017. For the six months, the company reported revenues of $43,796,138 against $47,186,358 a year ago. The year-over-year decrease again was primarily due to the lower revenue in Arotech's vehicle assimilation product area. Operating loss was $341,391 against profit of $126,465 a year ago. Loss from continuing operations before income tax expense was $880,175 against $368,957 a year ago. Loss from continuing operations was $1,362,935 against $951,237 a year ago. Net loss was $1,362,935 against $1,443,722 a year ago. Basic and diluted net loss per share from continuing operations was $0.05 against $0.04 a year ago. Basic and diluted net loss per share was $0.05 against $0.06 a year ago. Total adjusted EBITDA was $2,033,744 against $3,182,118 a year ago. Adjusted EPS were $0.02 against $0.06 a year ago.

For the second quarter, the company reported revenues of $21,448,693 against $21,779,877 a year ago. The year-over-year decrease was driven primarily by lower revenue in Arotech's vehicle simulation product area. This result was below second quarter expectation due primarily to the timing of awards in U.S. Power and Simulation divisions as well as further investment in a strategic product development within U.S. Power division. Operating loss was $114,726 against $16,478 a year ago. Loss from continuing operations before income tax expense was $331,807 against $200,279 a year ago. Loss from continuing operations was $594,627 against $569,106 a year ago. Net loss was $594,627 against $799,945 a year ago. Basic and diluted net loss per share from continuing operations was $0.02 against $0.02 a year ago. Basic and diluted net loss per share was $0.02 against $0.03 a year ago. Total adjusted EBITDA was $1,036,113 against $1,299,832 a year ago. Adjusted EPS were $0.01 against $0.02 a year ago.

The company affirms its 2017 outlook for total revenue of $93 to $103 million, with adjusted earnings per share of $0.20 to $0.24, and adjusted EBITDA of $7.5 million to $8.5 million. This outlook includes only organic contribution, and does not take any potential acquisition activity into account.