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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Arotech Corporation | NASDAQ:ARTX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.995 | 2.99 | 3.00 | 0 | 01:00:00 |
OMB APPROVAL
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OMB Number:3235-0060
Expires:April 30, 2015
Estimated average burden
hours per response 5.71
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Date of Report (Date of earliest event reported):
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November 10, 2014
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AROTECH CORPORATION
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(Exact name of registrant as specified in its charter)
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Delaware
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0-23336
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95-4302784
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(State or other jurisdiction
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(Commission
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(IRS Employer
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of incorporation)
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File Number)
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Identification No.)
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1229 Oak Valley Drive, Ann Arbor, Michigan
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48108
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code:
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(800) 281-0356
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(Former name or former address, if changed since last report)
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Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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Exhibit
Number
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Description
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99.1
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AROTECH CORPORATION
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||||
(Registrant)
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||||
/s/ Steven Esses
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||||
Name:
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Steven Esses
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Title:
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President and CEO
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Earnings News |
Investor Relations Contacts:
Ehud Helft & Kenny Green
GK Investor Relations
Tel: 1 646 201 9246
arotech@gkir.com
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September 30, 2014
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December 31, 2013
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|||||||
ASSETS
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||||||||
CURRENT ASSETS:
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||||||||
Cash and cash equivalents
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$ | 11,044,256 | $ | 6,319,820 | ||||
Trade receivables
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14,911,644 | 12,362,871 | ||||||
Unbilled receivables
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19,036,156 | 8,463,920 | ||||||
Other accounts receivable and prepaid
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1,544,692 | 1,379,621 | ||||||
Inventories
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10,711,913 | 10,074,766 | ||||||
Total current assets
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57,248,661 | 38,600,998 | ||||||
LONG TERM ASSETS:
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||||||||
Property and equipment, net
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6,114,138 | 4,926,949 | ||||||
Other long term assets
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4,984,775 | 5,042,790 | ||||||
Intangible assets, net
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12,396,306 | 1,059,151 | ||||||
Goodwill
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45,730,986 | 31,024,754 | ||||||
Total long term assets
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69,226,205 | 42,053,644 | ||||||
Total assets
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$ | 126,474,866 | $ | 80,654,642 | ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
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||||||||
CURRENT LIABILITIES:
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||||||||
Trade payables
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$ | 4,803,969 | $ | 5,107,208 | ||||
Other accounts payable and accrued expenses
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8,532,938 | 6,012,041 | ||||||
Current portion of long term debt
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4,340,729 | 95,382 | ||||||
Short term bank credit
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2,782,213 | – | ||||||
Deferred revenues
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6,300,162 | 7,020,079 | ||||||
Total current liabilities
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26,760,011 | 18,234,710 | ||||||
LONG TERM LIABILITIES:
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||||||||
Long term portion of debt
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18,357,684 | 1,830,348 | ||||||
Other long-term liabilities
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15,546,271 | 12,612,608 | ||||||
Total long-term liabilities
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33,903,955 | 14,442,956 | ||||||
Total liabilities
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60,663,966 | 32,677,666 | ||||||
STOCKHOLDERS’ EQUITY:
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Total stockholders’ equity (net)
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65,810,900 | 47,976,976 | ||||||
Total liabilities and stockholders’ equity
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$ | 126,474,866 | $ | 80,654,642 |
Nine months ended September 30,
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Three months ended September 30,
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|||||||||||||||
2014
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2013
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2014
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2013
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Revenues
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$ | 74,995,339 | $ | 67,637,517 | $ | 24,783,353 | $ | 23,187,544 | ||||||||
Cost of revenues
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49,682,017 | 49,681,174 | 16,775,556 | 16,816,012 | ||||||||||||
Research and development expenses
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2,857,144 | 1,935,958 | 925,186 | 807,788 | ||||||||||||
Selling and marketing expenses
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4,180,519 | 3,549,483 | 1,202,966 | 1,229,225 | ||||||||||||
General and administrative expenses
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11,606,038 | 7,539,580 | 3,799,772 | 2,685,522 | ||||||||||||
Amortization of intangibles
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1,828,635 | 821,097 | 867,452 | 270,985 | ||||||||||||
Total operating costs and expenses
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70,154,353 | 63,827,292 | 23,570,932 | 21,809,532 | ||||||||||||
Operating income
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4,840,986 | 3,810,225 | 1,212,421 | 1,378,012 | ||||||||||||
Other income
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288,252 | 261,222 | 58,831 | (7,460 | ) | |||||||||||
Financial expenses, net
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(1,098,755 | ) | (475,448 | ) | (416,107 | ) | (172,569 | ) | ||||||||
Total other expense
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(810,503 | ) | (214,226 | ) | (357,276 | ) | (180,029 | ) | ||||||||
Income from continuing operations before income tax expense
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4,030,483 | 3,595,999 | 855,145 | 1,197,983 | ||||||||||||
Income tax expense
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855,178 | 765,962 | 476,617 | 337,060 | ||||||||||||
Income from continuing operations
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3,175,305 | 2,830,037 | 378,528 | 860,923 | ||||||||||||
Loss from discontinued operations, net of income tax
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- | (87,278 | ) | - | 652 | |||||||||||
Net income
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3,175,305 | 2,742,759 | 378,528 | 861,575 | ||||||||||||
Other comprehensive income, net of income tax
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||||||||||||||||
Foreign currency translation adjustment
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(648,740 | ) | 472,767 | (749,849 | ) | 202,844 | ||||||||||
Comprehensive income
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$ | 2,526,565 | $ | 3,215,526 | $ | (371,321 | ) | $ | 1,064,419 | |||||||
Basic net income per share – continuing operations
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$ | 0.15 | $ | 0.18 | $ | 0.02 | $ | 0.05 | ||||||||
Basic net loss per share – discontinued operations
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$ | - | $ | (0.01 | ) | $ | - | $ | - | |||||||
Basic net income per share
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$ | 0.15 | $ | 0.17 | $ | 0.02 | $ | 0.05 | ||||||||
Diluted net income per share – continuing operations
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$ | 0.15 | $ | 0.18 | $ | 0.02 | $ | 0.05 | ||||||||
Diluted net loss per share – discontinued operations
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$ | - | $ | (0.01 | ) | $ | - | $ | - | |||||||
Diluted net income per share
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$ | 0.15 | $ | 0.17 | $ | 0.02 | $ | 0.05 | ||||||||
Weighted average number of shares used in computing basic net income/loss per share
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20,998,023 | 15,521,974 | 23,137,808 | 15,951,602 | ||||||||||||
Weighted average number of shares used in computing diluted net income/loss per share
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21,600,763 | 16,124,714 | 23,740,548 | 16,554,342 |
Nine months ended September 30,
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Three months ended September 30,
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2014
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2013
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2014
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2013
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|||||||||||||
Net Income continuing (GAAP measure)
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$ | 3,175,305 | $ | 2,830,037 | $ | 378,528 | $ | 860,923 | ||||||||
Add back:
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||||||||||||||||
Financial (income) expense – including interest
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810,503 | 475,448 | 357,276 | 172,569 | ||||||||||||
Income tax expenses (benefit)
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855,178 | 765,962 | 476,617 | 337,060 | ||||||||||||
Depreciation and amortization expense
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2,945,234 | 1,688,105 | 1,289,709 | 555,087 | ||||||||||||
Other adjustments*
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1,160,644 | 392,913 | 143,930 | 226,381 | ||||||||||||
Total adjusted EBITDA
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$ | 8,946,864 | $ | 6,152,465 | $ | 2,646,060 | $ | 2,152,020 |
1 Year Arotech Chart |
1 Month Arotech Chart |
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