Arotech Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported revenues of $21,489,274 compared to $27,413,566 a year ago. The year-over-year decrease was driven primarily by delays in receiving and executing new orders in the Simulation division military vehicle arena. Operating loss was $1,743,413 compared to income of $1,195,938 a year ago. Loss from continuing operations before income tax expense was $1,934,429 compared to income of $963,084 a year ago. Loss from continuing operations was $2,033,577 or $0.08 per diluted share compared to income of $701,767 or $0.03 per diluted share a year ago. Net loss was $2,040,472, or $0.08 per basic and diluted share, compared to income of $398,592, or $0.02 per basic and diluted share, for the corresponding period last year. Total adjusted EBITDA was $807,056 compared to $2,272,756 a year ago. Adjusted net income was $279,000 or $0.01 per share compared to $1,835,000 or $0.07 per share a year ago.

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.