Arotech Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenues of $21,874,609 against $21,448,693 a year ago. Operating income was $562,136 against loss of $114,726 a year ago. Income before income tax expense was $259,753 against loss of $331,807 a year ago. Net income was $83,482 or $0.00 per basic and diluted share against loss of $594,627 or $0.02 per basic and diluted share a year ago. Total adjusted EBITDA was $1,514,807 against $1,036,113 a year ago. Adjusted net income was $692 or $0.03 per share against $342 or $0.01 per share a year ago. The year-over-year increase in revenue was primarily due to higher revenues in the company's Training and Simulation Division.

For the six months, the company reported revenues of $49,123,118 against $43,796,138 a year ago. Operating income was $1,617,944 against loss of $341,391 a year ago. Income before income tax expense was $1,102,456 against loss of $880,175 a year ago. Net income was $679,071 or $0.03 per basic and diluted share against loss of $1,362,935 or $0.05 per basic and diluted share a year ago. Total adjusted EBITDA was $3,675,512 against $2,033,744 a year ago. Adjusted net income was $2,138 or $0.08 per share against $607 or $0.02 per share a year ago. The year-over-year increase in revenue was driven primarily by higher revenues in the company's Training and Simulation Division.

The company is narrowing its 2018 guidance to the lower end of its previously provided range, and now expects: total revenue of $100 million to $105 million; adjusted EBITDA of $7.0 million to $7.3 million; and adjusted EPS of $0.14 to $0.16.