ROBO Global Robotics and... (AMEX:ROBO)
Historical Stock Chart
From Jun 2019 to Jun 2024
ROSH HA'AYIN, Israel, November 17 /PRNewswire-FirstCall/ -- RoboGroup T.E.K. Ltd. (NASDAQ:ROBO) today reported financial results for the third-quarter and first nine months of 2005. Revenues for the third quarter increased by 26% to NIS 17.7 million (US$3.8 million) from NIS 14 million (US$3.1 million) for the comparable quarter in 2004. The NIS 3.7 million increase can be approximately attributed equally to both YET and the Company's Educational Division. Gross profit for the third quarter was NIS 7.7 million (US$1.7 million) compared with NIS 6.6 million (US$1.5 million) for the comparable period in 2004.
The company reported third-quarter net profits of NIS 1.4 million (US$0.3 million) compared with a net loss of NIS 0.6 million (US$0.1 million) in the third-quarter of 2004.
Revenues for the nine-month period totaled NIS 45.4 million (US$9.9 million) compared with NIS 41.7 million (US$9.3 million) for the comparable period in 2004. The net loss for the nine month period decreased significantly to NIS 0.8 million (US$0.2 million) from NIS 6.4 million (US$1.4 million) in the comparable period in 2004.
"We are pleased to announce our second consecutive quarter of increased revenues and net profit" said Rafael Aravot, RoboGroup's chief executive officer. "For that last few quarters we continued to focus our attention on operating efficiency to ensure that we maximize revenues while controlling costs. The measures that we have taken over recent years to increase our efficiency and decrease our costs have enabled us greater flexibility."
"We believe that we offer our customers a comprehensive, "blended" and unique offering that includes a wide range of solutions, which are fully integrated. This includes-learning systems that allow students to take self-learning courses from home, anytime and anywhere, over the internet (our LearnMate system) as well as LIVE lessons broadcasted over satellite or internet (our TrainNet system).We also offer: Technology Laboratories, that include robots, CNC, Computer Integrated Manufacturing, and other automation machinery, along with simulation software for virtual operation of the machines".
"The recently received and reported contract, for the amount of $1.2 million, is an example of such a successful "blended" project," said Mr. Aravot.
A complete Directors' Report for the third quarter of 2005 is available on the Company's Website at http://www.robo-group.com/ or as a PDF file upon request. Please contact Ayelet Shiloni at Integrated IR, toll-free +1-866-447-8633.
RoboGroup
RoboGroup and its subsidiaries are engaged in two major fields of activity. The first is the field of education devoted to RoboGroup's training products and e-learning systems. RoboGroup is a world leader in engineering and manufacturing technology training systems. The Company is market driven, deriving its growth from technological leadership, strong partnerships and management expertise. The other field of activity is the development, manufacturing and marketing of motion control products for the industrial market, which is performed through the Company's subsidiary, Yaskawa Eshed Technologies (YET). For more information, visit http://www.robo-group.com/.
To the extent that this press release discusses expectations about market conditions or about market acceptance and future sales of the Company's products, or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause results to differ materially from the statements made. These factors include the rapidly changing technology and evolving standards in the industries in which the Company and its subsidiaries operate, risks associated with the acceptance of new products by individual customers and by the market place and other factors discussed in the business description and management discussion and analysis sections of the Company's Annual Report on Form 20-F.
Company Contact:
Michal Afuta
RoboGroup
+972-3-900-4112
Agency Contact:
Ayelet Shiloni
Integrated IR
+1-866-447-8633
RoboGroup T.E.K. Ltd.
Balance Sheets
NIS in Thousands
September, 30 December, 31
2005 2005 2004 2004
US$ (K) NIS (K) NIS (K) NIS (K)
Unaudited Unaudited Unaudited Audited
Convenience
translation
to US Reported
dollars amounts Reported amounts
ASSETS
Current assets
Cash and cash equivalents 1,572 7,228 7,054 6,957
Short-term investments 13 61 - 99
Trade receivables 3,202 14,722 13,596 15,282
Other receivables and debit
balances 628 2,888 2,946 2,093
Inventories 2,633 12,108 12,751 9,372
8,048 37,007 36,347 33,803
Long-term investments
Investments in investee and
other companies - - 15 -
Funds in respect of
employee rights upon
retirement, net 185 850 329 563
185 850 344 563
Fixed assets 7,684 35,329 36,821 36,548
Other assets and deferred
expenses 80 369 690 1,036
15,997 73,555 74,202 71,950
RoboGroup T.E.K. Ltd.
Balance Sheets
NIS in Thousands
September, 30 December, 31
2005 2005 2004 2004
US$ (K) NIS (K) NIS (K) NIS (K)
Unaudited Unaudited Unaudited Audited
Convenience
translation
to US Reported
dollars amounts Reported amounts
LIABILITIES
Current liabilities
Credit from banks 3,517 16,172 15,757 15,228
Trade payables 1,331 6,119 5,533 5,853
Other payables and credit
balances 2,600 11,955 10,790 10,333
7,448 34,246 32,080 31,414
Long-term liabilities
Loans from banks 3,604 16,571 17,740 17,100
Provision for deferred
taxes 32 146 - 163
Liability for termination
of employee/employer
relationship, net 41 190 207 139
3,677 16,907 17,947 17,402
Shareholders' equity
Share capital 2,479 11,400 11,400 11,400
Capital reserves and
premium on shares 9,629 44,273 44,159 44,179
Accumulated deficit (7,064) (32,482) (30,381) (31,656)
Treasury stock (172) (789) (1,003) (789)
4,872 22,402 24,175 23,134
15,997 73,555 74,202 71,950
RoboGroup T.E.K. Ltd.
Statement of Operations
NIS in Thousands
For the nine months ended
September 30
2005 2005 2004
US$ (K) NIS (K) NIS (K)
Unaudited Unaudited Unaudited
Convenience
translation
to US Reported amounts
dollars
Revenues 9,882 45,438 41,682
Cost of revenues 5,543 25,488 23,044
Gross profit 4,339 19,950 18,638
Operating expenses
Research and
development expenses, net 928 4,265 5,963
Marketing and selling
expenses 1,998 9,185 10,175
Administrative and
general expenses 1,330 6,118 7,348
4,256 19,568 23,486
Operating profit
(loss) 83 382 (4,848)
Financial expenses, net (146) (673) (1,334)
Other income
(expenses), net (45) (206) 671
Profit (loss) before
taxes on income (108) (497) (5,511)
Income tax expenses 72 329 901
Net profit (loss) (180) (826) (6,412)
Profit (loss) per
share ("EPS") (0.02) (0.08) (0.6)
Weighted average
number of shares used
in computation of EPS
(in thousands) 10,850 10,850 10,745
For the three months ended
September 30 Year ended December,
2005 2004 31, 2004
NIS (K) NIS (K) NIS (K)
Unaudited Unaudited Audited
Reported amounts
Revenues 17,676 14,001 61,734
Cost of revenues 9,985 7,412 35,843
Gross profit 7,691 6,589 25,891
Operating expenses
Research and development
expenses, net 965 1,676 7,619
Marketing and selling
expenses 2,895 3,108 13,204
Administrative and general
expenses 2,185 2,328 10,042
6,045 7,112 30,865
Operating profit (loss) 1,646 (523) (4,974)
Financial expenses, net (281) (259) (2,111)
Other income (expenses), net 92 173 809
Profit (loss) before taxes
on income 1,457 (609) (6,276)
Income tax expenses 57 - 1,411
Net profit (loss) 1,400 (609) (7,687)
Profit (loss) per share
("EPS") 0.13 (0.06) (0.71)
Weighted average number of
shares used in computation
of EPS (in thousands) 10,850 10,745 10,757
DATASOURCE: RoboGroup t.e.k. Ltd
CONTACT: Company Contact: Michal Afuta, RoboGroup,
, +972-3-900-4112; Agency Contact: Ayelet Shiloni,
Integrated IR, , +1-866-447-8633