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 Reports Financial Results For Q3 2012

TEL AVIV, Israel, February 28, 2013 /PRNewswire/ --

RiT Technologies (NASDAQ: RITT) today announced its financial results for the third quarter and nine months ended September 30, 2012.  

Revenues for the third quarter of 2012 totaled $2.1 million, down 25% compared with $2.8 million in the second quarter of 2012 and 42% compared year-over-year with $3.7 million in the third quarter of 2011.

Investment in the development of new products totaled $1.1 million in the third quarter and $2.9 million in the first nine months of 2012.

Net loss for the quarter was $2.8 million, or $0.46 per share. This compared with a net loss of $2.5 million, or $0.48 per share, in the second quarter of 2012 and $0.9 million, or $0.19 per share in the third quarter of 2011.

For the nine-month period, revenues totaled $6.3 million compared with $10.4 million in the first nine months of 2011. Net loss for the period totaled $8.5 million, or $1.54 per share, compared with $2.6 million, or $0.60 per share, for the parallel period of 2011.

Comments of Management

Commenting on the results, Dr. Vadim Leiderman, RiT's President and CEO, said, "During the third quarter, we continued to move forward according to a plan focused on the accelerated development of our new IWON and  IIM product lines, each of which brings a new approach to solving the unmet needs of fast-growth markets. We plan to continue with this high level of investment throughout 2013, while also taking considerable measures reorganizing our sales organization."

About RiT Technologies

1 of 3

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 $92.69 -0.59%
FB $119.49 1.43%
GOOG $711.11 1.40%
TSLA $214.93 1.61%
YHOO $37.23 0.79%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs