Arotech Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Full Year of 2017
For the year, the company reported revenues of $92,975,752 compared to $96,573,947 a year ago. The year-over-year decrease was driven in large part by the delay in receipt in execution of the new orders in the Simulation division. Operating income was $214,277 compared to $286,279 a year ago. Loss from continuing operations before income tax expense was $696,154 compared to $890,023 a year ago. Loss from continuing operations was $1,479,574 or $0.06 per diluted share compared to $2,050,969 or $0.08 per diluted share a year ago. Net loss was of $2,848,256 or $0.11 per diluted share compared to $2,945,026 or $0.12 per diluted share a year ago. Total adjusted EBITDA was $7,069,517 compared to $6,034,889 a year ago. Adjusted net income was $4,424,000 or $0.17 per share compared to $2,761,000 or $0.11 per share a year ago.
For the year 2017, the company expected revenue guidance of $93 million to $103 million; Adjusted EBITDA guidance of $7.5 million to $8.5 million; and Adjusted EPS guidance of $0.20 to $0.24.