posted
Great call, couldn't be more poised for a bounce, profitable company, good earnings expected any day, coming off 52wk low...might take a small position.
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posted
Conf. call set for Feb 2nd, if you look at the chart a person may notice the large spike during each earnings release. This will have a good run next week, great reat call rider!
-------------------- The sharpest knife can’t carve its own handle
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posted
RiT Technologies Reports Q4 and Full Year 2005 Results Thursday February 2, 8:02 am ET 2005: Revenues Up 51% to $27.9M, 4 Profitable Quarters
TEL AVIV, Israel, February 2 /PRNewswire-FirstCall/ -- RiT Technologies (NASDAQ: RITT - News), the pioneer and world-leading provider of intelligent physical layer solutions, today announced financial results for the fourth quarter and full year ended December 31, 2005. ADVERTISEMENT
Revenues for the fourth quarter of 2005 were $7,071,000, an increase of 25% compared with $5,651,000 for the fourth quarter of 2004. Net income for the quarter was $225,000, or $0.02 per basic share ($0.01 per diluted share), the Company's 4th consecutive profitable quarter, compared with a net loss of ($193,000), or ($0.01) per share (basic and diluted) for the fourth quarter of 2004.
Revenues for the full year 2005 were $27,852,000, an increase of 51% compared with $18,427,000 for 2004. Net income for the period was $1,403,000, or $0.10 per basic share ($0.09 per diluted share), compared with a net loss of ($2,975,000), or ($0.27) per share (basic and diluted), for 2004.
Commenting on the results, Mr. Doron Zinger, RiT's President and CEO, said, "2005 was a strong year for RiT with 51% revenue growth, gross margin above 53% and four consecutive profitable quarters. These results were well above our projections, due partially to the receipt of several large Carrier sales. Our focus during the year has been to strengthen our ability to generate a steadily growing flow of orders, and to use that as a foundation for healthy, consistent and profitable growth.
"Towards this end, we made significant progress during 2005. We instituted various activities during the year which have strengthened our relationships with major customers and OEM partners and enhanced our internal sales capabilities. On The Enterprise side, our current focus is to begin addressing emerging opportunities in India and China, and to take full advantage of the explosive growth of worldwide datacenter building activity. On the Carrier side, we have expanded the number of 'live' opportunities in the sales pipeline and have begun accelerating the rate at which they turn into sales. To fuel our long-term growth, we continue aggressive development of all our product lines, and expect to launch a next-generation Carrier product later in the year."
Mr. Zinger concluded, "Looking ahead, given the 'spikes' of our Carrier business, it remains difficult to forecast our future revenues. We are nevertheless budgeting for a profitable 2006 for both sides of the business with gross margin above 50%."
The Company will host a conference call to discuss these results today, Thursday February 2nd, at 10:00 A.M. Eastern Time/ 17:00 Israel time. To participate, please call +1-866-229-7198 from the US (toll free), or +972-3-918-0600 International. A replay of the call will be available beginning at 12 noon ET on the day of the call for 14 days by calling +1-866-276-1002 from the US (toll free), or +972-3-925-5940 from the rest of the world.
The call will also be available through a simultaneous webcast. To participate in the webcast of the call, please log-in about 5-10 minutes prior to the start of the call as follows:
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posted
theres no real reason for the fall with that kind of news i would expect this to go up maybe Eod or tomorrow so ill hold till at least tomorrow
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posted
I also bought when I read this news. I must be crazy because it sounds like news any company would love to have. I saw this in the afternoon and was afraid it would be too late. Was I surprised to see that the stock had actually dropped on this news.
Could the MM's be holding it down because they shorted it?
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posted
i hope most of the sellers are gone and we can get some buys going tomorrow to push it up , who the hell would sell this below 52 week low with positive earning
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