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Seeweekly news
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2005-11-17 |
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RoboGroup Announces Net Profit and 26% Increase in Revenues in Third-Quarter 2005 |
RoboGroup
T.E.K. Ltd. (Nasdaq: ROBO) today reported financial results for the
third-quarter and first nine months of 2005. Revenues for the third quarter
increased by 26% to NIS 17.7 million (US$3.8 million) from NIS 14 million
(US$3.1 million) for the comparable quarter in 2004. The NIS 3.7 million
increase can be approximately attributed equally to both YET and the
Company's Educational Division. Gross profit for the third quarter was NIS
7.7 million (US$1.7 million) compared with NIS 6.6 million (US$1.5 million)
for the comparable period in 2004.
The company reported third-quarter net profits of NIS 1.4 million (US$0.3
million) compared with a net loss of NIS 0.6 million (US$0.1 million) in the
third-quarter of 2004.
Revenues for the nine-month period totaled NIS 45.4 million (US$9.9
million) compared with NIS 41.7 million (US$9.3 million) for the comparable
period in 2004. The net loss for the nine month period decreased
significantly to NIS 0.8 million (US$0.2 million) from NIS 6.4 million
(US$1.4 million) in the comparable period in 2004.
"We are pleased to announce our second consecutive quarter of increased
revenues and net profit" said Rafael Aravot, RoboGroup's chief executive
officer. "For that last few quarters we continued to focus our attention on
operating efficiency to ensure that we maximize revenues while controlling
costs. The measures that we have taken over recent years to increase our
efficiency and decrease our costs have enabled us greater flexibility."
"We believe that we offer our customers a comprehensive, "blended" and
unique offering that includes a wide range of solutions, which are fully
integrated. This includes-learning systems that allow students to take
self-learning courses from home, anytime and anywhere, over the internet (our
LearnMate system) as well as LIVE lessons broadcasted over satellite or
internet (our TrainNet system).We also offer: Technology Laboratories, that
include robots, CNC, Computer Integrated Manufacturing, and other automation
machinery, along with simulation software for virtual operation of the
machines".
"The recently received and reported contract, for the amount of $1.2
million, is an example of such a successful "blended" project," said Mr.
Aravot.
A complete Directors' Report for the third quarter of 2005 is available
on the Company's Website at http://www.robo-group.com or as a PDF file upon
request. Please contact Ayelet Shiloni at Integrated IR, toll-free
+1-866-447-8633. |
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