RT-SET Announces Full Year 2000 and Fourth Quarter Record Revenue, Exceeding Analysts Expectations / Record Gross Margin: Starting 2001 With Significant Order B
11.01.2001, 14:46
NEW YORK, January 10, 2001 (PROTEXT/ots) - RT-SET, (Real TimeSynthesized Entertainment Technology) Ltd. (Neuer Markt: RTZR.F),doing business as vi[z]rt, today announced a record consolidatedrevenue for the year-ended December 31, 2000, of $18.7 million,representing an increase of approximately 188% from $6.5 millionin 1999. Analysts expectations for the year were $17.8 million.Fourth quarter revenues were an all-time record $6.5 million in2000 compared with $3.0 million in 1999, an increase of 116%. Inaddition, the Company announced a significant increase in grossmargin for the full year as well as for the fourth quarter of2000. The gross margin during the third quarter was 52%.
Revenue during the second half of 2000 included sales of thenewly integrated product line (completed following theacquisition of Peak Broadcast Systems in July 2000) to majortelevision networks around the world. Sales , included virtualstudio systems, broadcast graphics, maps systems and contentmanagement. Significant customers included QVC - Japan, thelargest television shopping channel, RTL - Hungary, RTP -Portugal, ITN, Sky and Granada Media - UK, ORF - Austria, KirschGroup - Germany, CBS, Fox and Univision - US and many more.
During this period sales were achieved in new marketsincluding the New York Stock Exchange - the world's leadingcapital market - and to a major US investment bank. These salesare attributable to the unique value proposition of the company'sproducts that offer users the most complete, scalable and costeffective real time graphics solutions in the market. During thefourth quarter of 2000, the Company also secured a significantorder book that is expected to be recognized as revenue duringthe first quarter of 2001.
Shlomo Nimrodi, President and CEO, vi[z]rt, said, "I am verypleased with the progress we made in 2000. We have strengthenedour business fundamentals significantly while achieving recordrevenue growth and increased gross margin. The new business modelsignificantly increases the growth potential and its visibilitygoing forward. There is no doubt that with the assets we havetoday, including our software tools and our highly skilled andmotivated team, we have created a significant value propositionto broadcasters around the world. These assets are alreadyenabling us to penetrate into new markets with significant growthopportunities." The Company will be announcing its annual andfourth quarter results on February 27, 2001.
vi[z]rt is the world's leading provider of fully integratedbroadcast and web-cast graphics solutions, including virtualstudio systems, broadcast graphics, content management andscheduling, character generator and creative design services.vi[z]rt is the company formed following the acquisition of PeakBroadcast Systems by RT-SET on July 4, 2000. RT-SET is traded onthe Neuer Markt (RTZ).
For further information contact:
vi[z]rt Headquarters:
Alon Carmeli Tel: +1-212-560-0708
www.vizrt.com
Investor Relations:
Kirchhoff Consult AG
Frank Schwarz
Tel: +49-69-74748615
Press Relations:
International Press
Splash!PR
John Brigden/Clare Young
Tel: +44 (0)1580 241177
Downloadable version:
www.splashpr.co.uk
North American Press
The Adcock Group
Sharon Adcock
Tel: +1-310-545-9731
Subscribers please note that material bearing the slug"PROTEXT" is not part of CTK's news service and is not to bepublished under the "CTK" slug. Protext is a commercial serviceproviding distribution of press releases from clients, who areidentified in the text of Protext reports and who bear fullresponsibility for their contents.
PROTEXT