Enter the track: Orbit’s profit of $ 1.8 million – the capital market

A company that manufactures and markets electronic products for the fields of communications and aviation,

Orbit
+ 7.6%

Base:1,435

opening:1,435

High:1,600

low:1,406

change:1,332,333

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, Showing strong results, after net profit in the last quarter jumped from only $ 43,000 in 2019, to $ 1.8 million in the previous quarter. Or 4,035% for grammarians. In addition, the company presented a bottom line for the entire 2020 when it jumped from 2.2 million to 4.6 million. Or a little over 100%.

Revenue rose 19 percent, from $ 13 million to $ 16 million. Gross profit rose from $ 4 million to $ 6 million, or 60%. Operating profit rose from $ 327,000 to $ 2.5 million. Or an increase of over 650%.

EBITDA jumped from $ 1.5 million to $ 3.2 million, with% rising from 11.6% to 20%. Cash flow rose 100% as well, from $ 5.5 million to just over $ 11 million. The Company’s shareholders’ equity on December 31, 2020 amounted to approximately $ 35.7 million, which constitutes approximately 58.2% of the balance sheet, compared to equity in the amount of approximately $ 30.9 million, which constitutes approximately 54.9% of the balance sheet at the end of 2019.

Daniel Eshchar, CEO of Orbit, stated: “In 2020, we continued to implement the strategy of focusing on projects that constitute growth engines while receiving significant and stable orders and increasing market shares. The fourth quarter coordinated a number of orders that were rejected during the year and was characterized by continued efficiencies and a mix of products that led to an improvement in the rate of profitability.

“As of the end of 2020, we have framework agreements in the amount of approximately $ 53.4 million that are not included in the reported aggregate and we believe that Orbit is well positioned technologically and operationally to achieve the business goals we set for ourselves later this year and in the future.” “In the development of new markets, high importance and leverage to establish our leading position in the target markets and to ensure Orbit’s long-term growth.”