InRob Tech Realizes 30 Percent Growth in 2005 Revenues
March 31, 2006 10:30:52 (ET)
LAS VEGAS, Mar 31, 2006 (PRIMEZONE via COMTEX) -- InRob Ltd. (IRBL, Trade), a leader in the development and production of advanced wireless control systems and integrated solutions for unmanned ground vehicles (UGV), today announced that it has posted a 31% increase in total revenues for the year ended 2005 over the prior year.
The Company has significantly improved its gross margin from 16.4% in 2004 to close to 41% in 2005, while other expenses remained basically the same as the prior year. As a result, InRob Tech saw positive net income for the year 2005 of over $100,000, following a loss of just under $350,000 in 2004.
"Our heavy investments in research and development over the last few years are now beginning to pay off," says InRob Tech CEO, Mr. Ben Tsur Joseph. "We knew that 2005 was the year that we would turn the tide from operating loss to operating profits and positive net income. Now, our sites are set on 2006 being a banner year for the Company, both in sales and profitability.
"I have stated on several occasions that we are now allocating a major part of our budget for business development efforts," adds Joseph. "This began in mid-2005, so we expect to see the impact of our marketing activities already in 2006. InRob Tech will always have to continue investing in R&D, but with the foundation of technology that we have built over the last three years, we can strive to be an industry leader without endangering the profitability of the Company." |
