This Day On The Street
Continue to site
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

RiT Technologies Delivers Continued Sales Growth In Q2 2011

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 -1.15%
FB $117.58 0.73%
GOOG $693.01 0.29%
TSLA $240.76 -2.81%
YHOO $36.60 0.03%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs