Arotech Corporation (ARTX) Tops Q1 EPS by 4c

Arotech Corporation (NASDAQ: ARTX) reported Q1 EPS of $0.05, $0.04 better than the analyst estimate of $0.01. Revenue for the quarter came in at $22.4 million versus the consensus estimate of $21.3 million.

"Our first quarter 2014 results build on the extraordinary year just completed, and are a strong start to what we believe will be a very good year for Arotech," commented Arotech's Chairman and CEO Robert S. Ehrlich. "We are especially pleased with the strong improvement in profitability, in particular our gross margins. We look forward to a jump in the coming quarter as UEC is consolidated into Arotech."

Continued Mr. Ehrlich, "Our assimilation of UEC into our battery and power systems division is going well, and as we work closely with our new employees, we are increasingly impressed with the caliber of engineering talent and their manufacturing capabilities. We are now looking to capitalize on our newly expanded market opportunities in battery, electronics and power systems. UEC's sales have historically been concentrated in the United States, and we hope to bring some of our international experience to bear in realizing UEC's potential," concluded Mr. Ehrlich.

For earnings history and earnings-related data on Arotech Corporation (ARTX) click here.

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