Graphics and media asset management (MAM) provider Orad reported that its revenue for 2011 was $35.3m, up 21% versus the full year 2010. The company attributed its growth to sales of new products and improved performance in Europe and North America
Net profit for the year was $3.4m, up 24% versus 2010. Gross margins for the year were 69%, down from 70% in 2010.
The results include six months contribution from IBIS, a MAM vendor that was acquired by Orad in August of 2011. On a pro-forma basis, assuming a full year’s contribution from IBIS, Orad reported a profit of $2.96m on revenue of $36.7m.
Results for Q4 2011
Net profit for the fourth quarter was $1.1m compared to $0.7 million last year. Gross margins for the fourth quarter were 65% versus 58% last year.
Orad president & CEO Avi Sharir was upbeat about the results saying “We are publishing today record results for the company, both in terms of revenue for 2011 and its fourth quarter, and in terms of net profit. Revenue growth in 2011 was due to the launch of new products and a double-digit growth in sales in Europe and North America. We increased orders, particularly in the second half of the year and we anticipate continued growth in 2012 mainly from large sporting events like Euro 2012 and London Olympics, and due to the U.S. Presidential elections.”
Press Release: Orad Announces Results for the fourth quarter and for full year of 2011
Previous Quarter Press Release: Results for the third quarter and for the nine months of 2011
Previous Year Press Release: Results for the fourth quarter and for full year of 2010
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