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Why Arotech Corporation is up 30 Percent Tuesday (ARTX)

Shares of Arotech Corporation (NASDAQ: ARTX) are up 30 percent in midday trading after reporting positive earnings.

The company reported second quarter EPS of $0.09 compared to a loss of $(0.08) in the corresponding quarter in 2012. Revenue came in at $22.40 million compared to $20.4 million last year–a year over year increase of 9.9 percent.

Gross profit was reported as $6.3 million–28.2 percent of revenues compared to $3.4 million or 16.5 percent of revenues last year.

“We are proud to report a record quarter for Arotech with  solid profitability, and I note that Arotech now has a trailing twelve-month profit of approximately $2.3 million,” stated Robert Ehrlich, Chairman and CEO Arotech Corporation. “All parts of our business are performing well and ahead of our expectations. As a result, we are increasing our 2013 guidance, with expectations of full-year revenues growing to between $87 and $89 million and full-year EBITDA increasing to between $4.5 and $5.0 million,” concluded Mr. Ehrlich.

Click here to find out why Osiris Therapeutics is up more than 100 percent Tuesday.

Company Profile

Arotech Corporation, together with its subsidiaries, provides defense and security products. The company’s Training and Simulation division 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. This division provides simulators, systems engineering, and software products to the United States military, government, and private industry; and specialized use-of-force training for police, security personnel, and the military.

Its 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.

The company was formerly known as Electric Fuel Corporation and changed its name to Arotech Corporation in September 2003. Arotech Corporation was founded in 1990 and is based in Ann Arbor, Michigan. (from Yahoo! Finance)

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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