This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

RiT Technologies Delivers Continued Sales Growth In Q2 2011

Stocks in this article: RITT

TEL AVIV, Israel, July 28, 2011 /PRNewswire/ --

 

RiT Technologies (NASDAQ: RITT) today announced its financial results for the second quarter and six months ended June 30, 2011.  

Revenues for the second quarter of 2011 were $3.5 million, up 5% compared year-over-year with $3.3 million recorded in the second quarter of 2010, and up 8% compared sequentially with $3.2 million recorded in the first quarter of 2011. Net loss for the quarter was $754 thousand ( $0.17 per share on a basic and diluted basis), up 37% compared with $551 thousand ( $0.19 per share on a basic and diluted basis) for the second quarter of 2010, but down 22% compared with $966 thousand ( $0.24 per share on a basic and diluted basis) for the first quarter of 2011.

For the six-month period, revenues were $6.7 million, up 14% compared with $5.9 million in the first half of 2010. Net loss for the first half totaled $1.7 million ( $0.41 per share on a basic and diluted basis) compared with $1.6 million ( $0.56 per share on a basic and diluted basis) for the first six months of 2010.

Comments of Management

Commenting on the results, Mr. Eran Ayzik, RiT's President and CEO, said, "The second quarter was a period of intensive, fruitful activity in the areas of marketing, partnership building and product development, all of which are helping us build out RiT's platform for future growth. During the last six months, we have increased our sales and marketing efforts and improved our supply chain significantly with the goal of better supporting our customers. We believe that the development of the right new products, targeted sales and marketing activities, support capabilities and strategic partnerships are positioning us favorably, and that they will pay off over time in terms of increased sales and profits."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,090.23 +60.02 0.33%
S&P 500 2,092.37 +10.49 0.50%
NASDAQ 4,813.8910 +40.4190 0.85%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs