RRsat Global Communications Network Ltd. (RRST) provides global, comprehensive, content management and distribution services to the rapidly expanding television and radio broadcasting industries. Through its proprietary “RRsat Global Network,” composed of satellite and terrestrial fiber optic transmission capacity and the public Internet, RRsat is able to offer global distribution services for content providers. RRsat currently provides content services including producing and playing out TV content as well as providing satellite newsgathering services.
Revenues for the fourth quarter of 2007 totaled $16.3M, an increase of 36% compared to $12.0M in the same quarter 2006. Operating income totaled $3.3M, a 70% increase compared to $1.9M; and adjusted net income totaled $3.6M, an increase of 37% compared to $2.6M of fourth quarter 2006. Revenues for the full year 2007 compared to 2006 totaled a record $59.2M, an increase of 37%; operating income totaled $12.0M, a 28% increase; and adjusted net income totaled $12.3M, an increase of 52%.
Founder and chief executive officer of RRsat David Rivel stated that during the 2007 year, the company continued to expand their global network, create partnerships with satellite organizations, and continued laying additional fiber infrastructure to new regions and cities throughout Europe and North America. The company also began 60 new contracts, 27 of which were follow-on contracts with existing customers seeking to expand their relationship with RRsat, bringing the total number of channels broadcasted to over 400 at the end of the year.
“Looking ahead to 2008,” concluded Rivel. “We will continue to seek to enhance our customer base both by leveraging our premier global network while identifying additional drivers which will serve to enhance our services to both our existing customers and new customers…We expect 2008 annual revenues to be in the range of $75 – $76M, with revenues in the first quarter of 2008 in the range of $17.3 – $17.7M.”
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