Graphics and media asset management (MAM) provider Orad reported that its revenue for the first quarter of 2012 was $9m, an increase of 12% versus the same period a year ago, and down 7% versus the previous quarter.
Net profit for the quarter was $840,000, up 32% versus last year, and down 24% versus last quarter. Gross margins for the quarter were 69.2% versus 68.5% last year, and 65% last quarter.
Operating income for the quarter was $691,000, up 51% versus last year.
The company ended the quarter with $9.2m in cash and 247 employees.
Company CEO Avi Sharir said the quarter results reflect continued revenue growth and profitability, driven by new product introductions such as the VJ server, which contributed approximately 10% of revenue in the quarter. Sharir also said that the company is continuing to evaluate the registration of the Company in the Tel Aviv Stock Exchange.
Press Release: Orad – Results for the First Quarter of 2012
Previous Quarter: Orad Top Line Grows 21% in 2011, Profit up 24%
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