The consolidated financial report for Orbit Alchut (TASE:ORBI) was released and covered Q2 of 2007. Posted were $16.8 million in revenue for Q2, 11 percent more than the $15.1 million for the corresponding quarter in 2006. This was due, for the most part, to an increase in sales of the firm’s satellite communications systems. The net profit was $441,000, or $0.095 per share for Q2 as compared to a net loss of $262,000 for the corresponding quarter. There was $20 million in shareholders’ equity at the close of June. That’s 43 percent of the company’s balance sheet total, versus $19.4 million a year ago.
“We’re continuing to show growth in all parameters, and we posted a net profit for the second quarter. Satellite communications, especially the marine segment, showed impressive growth. 16% of the company’s consolidated sales came from this segment, which we launched in 2006,” said Orbit Alchut CEO Shlomi Yariv—Netanya, Israel—August 28, 2007
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