ORAD HI-TEC SYSTEMS LTD
Kfar-Saba, Israel, 06 August 2014. Orad Hi-Tec Systems Ltd. (ISIN IL0010838071; Symbol: OHT), a leading developer, marketer and distributor of state-of-the-art 3D real-time graphics, video servers and MAM solutions for the broadcasting markets, today announced a very successful business performance for the second quarter of 2014. At USD 10.2 million, Orad recorded the highest quarterly revenue in its history. This represents a year-on-year increase of 41 percent compared to the prior-year revenue of USD 7.3 million. Net profit improved significantly to USD 0.8 million after Orad incurred a loss of USD 1.3 million in the prior- year period. With an equity ratio of around 52 percent and cash and cash equivalents of around USD 7.6 million as of the end of June 2014, Orad maintains a solid financial footing
for future growth. Based on this positive development, the company confirms its guidance for the full 2014 financial year, which expects revenue to grow between 22 and 26 percent to USD 39 to 40 million with a margin between 6 and 8 percent in relation to the profit from operations.
In the first six months of 2014, Orad managed to boost revenue by 35 percent to USD 19.5 million after posting revenue of USD 14.4 million in the prior-year period. Net profit for the first six months of 2014 improved to USD 1.5 million compared with a loss of USD 2.2 million in 2013. Consequently, earnings per share in the first six months of 2014 were USD
0.14.
The positive business performance is driven both by Orad's traditional markets, such as Europe, and by markets in which the company has recently stepped up its sales activities, for example the USA.
The quarterly report is available for download from the Internet in the Investor Relations section atwww.orad.tv.
Orad Hi-Tec Systems is a world-leading provider of real-time 3D broadcast graphic, video
server, and media asset management solutions including news, channel branding, sports production and enhancement, elections and special events, 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). More information is available at http://www.orad.tv/.
For further information contact: Orad Hi-Tec Systems Ltd
Ilan Sidi, CFO
ilan@orad.tv
Investor Relations edicto GmbH
Dr. Sönke Knop, Frankfurt, Germany
+49 69 90550551
Forward Looking Statements
This press release contains forward-looking statements that are based on the current estimates and projection of future results and trends based on the knowledge of the environment in which the Company currently operates, but because of factors beyond its control, actual results may differ materially from the expectations expressed in the forward-looking statements.
Important factors that may cause actual results to differ from anticipated results include, but are not limited to, economic downturn, financial risk, acquisition risk, changes in technology, as well as other risks.
The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. As a result, investors should not place undue reliance on these forward-looking statements
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