Defense products company Arotech Corporation (Nasdaq: ARTX) yesterday announced its anticipated results for 2009. The company will publish its financial report in late March.
Arotech chairman and CEO Robert Ehrlich predicts that the company will report $21 million revenue for the fourth quarter and $75 million revenue for 2009 as a whole. He predicts a small GAAP-based net loss due to one-time charges for acquisitions.
Erlich also predicts growth in all of the company's three business segments in 2010, based on the company's current backlog and contract negotiations India, Israel, the US and other countries. He cautions, however, "The sensitive nature of our industries, products and customers makes it difficult to provide a revenue range for 2010."
Arotech's share rose 11% yesterday to $1.92, giving a market cap of $27 million. The share rose another 9.9% in premarket trading today.
Published by Globes [online], Israel business news - www.globes-online.com - on February 9, 2010
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