"Revenues for the first six months of 2013
reached $44.4 million, compared to $36.5 million for the corresponding
period last year, an increase of 21.8%."
"For the full year 2013, Arotech's
management anticipates that revenues will range from $87 million to $89
million."
Overview
Arotech (ARTX) is a leading provider of quality defense
and security products for the military, law enforcement and homeland
security markets. Arotech provides multimedia interactive
simulators/trainers and advanced zinc-air and lithium batteries and
chargers. Arotech operates through two major business divisions: Training
and Simulation, and Batteries and Power Systems.
Training and Simulation develops,
manufactures, and markets multimedia and interactive digital solutions for
use-of-force training and driving training of military, law enforcement,
security, and other personnel.
Battery and Power Systems
division develops and sells rechargeable and primary lithium batteries, and
smart chargers to the military and to private defense industry. This
division also develops, manufactures, and markets primary zinc-air
batteries, rechargeable batteries, and battery chargers for the military for
high energy and light weight applications; and produces water-activated
lifejacket lights for commercial aviation and marine applications.
Arotech
Corporation sells its products primarily in the United States, Israel,
Germany, Taiwan, Korea, Canada, Hong Kong, India, Mexico, Ecuador, Thailand,
the United Arab Emirates, and China.
ARTX
Investor Highlights
Revenues for the second quarter reached
$22.4 million, compared to $20.4 million for the corresponding period in
2012, an increase of 9.9%.
Adjusted EBITDA for the quarter was $2.5
million, compared to $(0.1) million for the corresponding period in
2012.
Revenues for the first six months of 2013
reached $44.4 million, compared to $36.5 million for the corresponding
period last year, an increase of 21.8%.
Adjusted EBITDA for the first six months
of 2013 was $4.0 million, compared to $0.4 million for the corresponding
period last year.
Backlog of orders totaled approximately
$65.7 million as of June 30, 2013.
For the full year 2013, Arotech's
management anticipates that revenues will range from $87 million to $89
million. This is an increase from the former guidance range of between
$85 million and $87 million.
Announced that its Training and
Simulation Division has secured $3.7 million in new orders. These
contracts span all training and simulation business units, with a
portion of the orders extending the Division's on-site support for its
fielded systems.
Announced that it received a number of
orders for batteries. The orders amounted to a total of $5 million and
were from a mix of military and commercial customers, including $2.25
million in orders for the division's water-activated survivor locator
lights.
Robert
S. Ehrlich - Chairman of the Board and Chief Executive Officer
Robert S.
Ehrlichhas
been Chairman of the Board since January 1993 and our President and Chief
Executive Officer since October 2002. From May 1991 until January 1993, Mr.
Ehrlich was Vice Chairman of the Board, and from May 1991 until October 2002
he was Chief Financial Officer. Mr. Ehrlich was a director of Eldat, Ltd.,
an Israeli manufacturer of electronic shelf labels, from June 1999 to July
2003. From 1987 to June 2003, Mr. Ehrlich served as a director of PSC Inc.
(“PSCX”), a manufacturer and marketer of laser diode bar code scanners,
and, between April 1997 and June 2003, Mr. Ehrlich was the chairman of the
board of PSCX. Mr. Ehrlich received a B.S. and J.D. from Columbia University
in New York, New York.
Steven
Esses - Executive Vice President
Steven
Esseshas
been a director since July 2002 and Executive Vice President since January
2003 and Chief Operating Officer since February 2003 and President
since December 2005. From 2000 till 2002, Mr. Esses was a principal with
Stillwater Capital Partners, Inc., a New York-based investment research and
advisory company (hedge fund) specializing in alternative investment
strategies. During this time, Mr. Esses also acted as an independent
consultant to new and existing businesses in the areas of finance and
business development. From 1995 to 2000, Mr. Esses founded Dunkin’ Donuts
in Israel and held the position of Managing Director and CEO. Prior thereto,
he was Director of Retail Jewelry Franchises with Hamilton Jewelry, and
before that he served as Executive Director of Operations for the Conway
Organization, a major off-price retailer with 17 locations.
Yaakov Har-OZ -
Vice President
Yaakov
Har-Ozhas
served as Vice President and General Counsel since October 2000 and as
corporate Secretary since December 2000. From 1994 until October 2000, Mr.
Har-Oz was a partner in the Jerusalem law firm of Ben-Ze'ev, Hacohen &
Co. Prior to moving to Israel in 1993, he was an administrative law judge
and in private law practice in New York. Mr. Har-Oz holds a B.A. from
Brandeis University in Waltham, Massachusetts and a J.D. from Vanderbilt Law
School (where he was an editor of the law review) in Nashville, Tennessee.
He is a member of the New York bar and the Israel Chamber of Advocates.
1229 Oak Valley
Drive
Ann Arbor, MI 48108
Phone: 800-281-0356
Fax: 734-761-5368
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