SmallCapReview.com Initiates Coverage of Arotech (ARTX)

WINSTON-SALEM, N.C. - Aug. 13, 2013 - PRLog -- Arotech (ARTX) is a leading provider of quality defense and security products for the military, law enforcement and homeland security markets. Arotech provides multimedia interactive simulators/trainers and advanced zinc-air and lithium batteries and chargers. Arotech operates through two major business divisions: Training and Simulation, and Batteries and Power Systems.

Training and Simulation develops, manufactures, and markets multimedia and interactive digital solutions for use-of-force training and driving training of military, law enforcement, security, and other personnel. 

Battery and Power Systems division develops and sells rechargeable and primary lithium batteries, and smart chargers to the military and to private defense industry. This division also develops, manufactures, and markets primary zinc-air batteries, rechargeable batteries, and battery chargers for the military for high energy and light weight applications; and produces water-activated lifejacket lights for commercial aviation and marine applications.

Arotech Corporation sells its products primarily in the United States, Israel, Germany, Taiwan, Korea, Canada, Hong Kong, India, Mexico, Ecuador, Thailand, the United Arab Emirates, and China.

ARTX Investor Highlights

Revenues for the second quarter reached $22.4 million, compared to $20.4 million for the corresponding period in 2012, an increase of 9.9%.

Adjusted EBITDA for the quarter was $2.5 million, compared to $(0.1) million for the corresponding period in 2012.

Revenues for the first six months of 2013 reached $44.4 million, compared to $36.5 million for the corresponding period last year, an increase of 21.8%.

Adjusted EBITDA for the first six months of 2013 was $4.0 million, compared to $0.4 million for the corresponding period last year.

Backlog of orders totaled approximately $65.7 million as of June 30, 2013.
For the full year 2013, Arotech's management anticipates that revenues will range from $87 million to $89 million. This is an increase from the former guidance range of between $85 million and $87 million.

Announced that its Training and Simulation Division has secured $3.7 million in new orders. These contracts span all training and simulation business units, with a portion of the orders extending the Division's on-site support for its fielded systems.

Announced that it received a number of orders for batteries. The orders amounted to a total of $5 million and were from a mix of military and commercial customers, including $2.25 million in orders for the division's water-activated survivor locator lights.

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