Arotech Corporation: Defense Company Profile, SWOT & Financial Report by ICDResearch

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									Arotech Corporation

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Arotech Corporation                                                       Financial Snapshot

                                                                          Operating Performance
Fast Facts
                                     1229 Oak Valley Drive , Ann Arbor,   The company reported revenue of US$73.74 million
Headquarters Address
                                     48108,United States of America       during the fiscal year 2010 (2010). The company's
                                                                          revenue grew at a CAGR of 14.36% during 2006–
Telephone                            + 1 800 3441707
                                                                          2010, with an annual decline of 1.06% over 2009. In
                                                                          2010, the company recorded an operating margin of -
Fax                                  N/A                                  1.05%, as against 0.22% in 2009.

Website                              N/A
                                                                          Revenue and Margins
Ticker Symbol, Stock Exchange        ARTX, NASDAQ

Number of Employees                  418

Fiscal Year End                      December

Revenue (in US$ million)             73.74




SWOT Analysis

Strengths                            Weaknesses                           Return on Equity

Diversified business operations      Lawsuits                             The company recorded a return on equity (ROE) of -
                                                                          1.75% for 2010, as compared to its peers, Oshkosh
                                                                          Corporation (Ticker: OSK), Cubic Corporation (Ticker:
Focus on research and development    Overdependence on select customers   CUB) and Ultralife Corporation (Ticker: ULBI), which
                                                                          recorded ROEs of 59.55%, 14.47% and -8.38%
Inorganic growth strategy            Weak performance of a segment        respectively. The company reported an operating
                                                                          margin of -1.05% in 2010.
Opportunities                        Threats
                                                                          Return on Equity
Growing Israeli defense market       Foreign Currency Fluctuations

New contract wins                    Government contract compliance

Rising US homeland security market   Wide range of alternatives




                                                                          Liquidity Position

                                                                          The company reported a current ratio of 1.74 in 2010,
                                                                          as compared to its peers, Oshkosh Corporation,
                                                                          Cubic Corporation and Ultralife Corporation, which
                                                                          recorded current ratios of 1.22, 2.20 and 2.08
                                                                          respectively. As of December 2010, the company
                                                                          recorded cash and short-term investments of worth
                                                                          US$6.73 million, against US$1.46 million current debt.
                                                                          The company reported a debt to equity ratio of 0.09 in
                                                                          2010 as compared to its peers, Oshkosh Corporation,
                                                                          Cubic Corporation and Ultralife Corporation, which
                                                                          recorded debt to equity ratios of 0.98, 0.04 and 0.12
                                                                          respectively.




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Arotech Corporation - SWOT Profile                                                                                Page 1
Arotech Corporation

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TABLE OF CONTENTS

1     Business Analysis ................................................................................................................................... 5
    1.1       Company Overview ................................................................................................................................................5
    1.2       Business Description ..............................................................................................................................................5
    1.3       Major Products and Services .................................................................................................................................7
2     Analysis of Key Performance Indicators ............................................................................................... 9
    2.1       Five Year Snapshot: Overview of Financial and Operational Performance Indicators ..........................................9
    2.2       Key Financial Performance Indicators .................................................................................................................12
      2.2.1       Revenue and Operating Profit .........................................................................................................................12
      2.2.2       Asset, Liabilities and Capex .............................................................................................................................13
      2.2.3       Operational Efficiency ......................................................................................................................................14
      2.2.4       Solvency ..........................................................................................................................................................15
    2.3       Competitive Benchmarking ..................................................................................................................................16
      2.3.1       Efficiency ..........................................................................................................................................................16
      2.3.2       Capital Expenditure ..........................................................................................................................................17
      2.3.3       Turnover – Inventory and Asset .......................................................................................................................18
      2.3.4       Liquidity ............................................................................................................................................................19
3     Recent Developments ........................................................................................................................... 20
4     SWOT Analysis ...................................................................................................................................... 21
    4.1       SWOT Analysis - Overview ..................................................................................................................................21
    4.2       Strengths ..............................................................................................................................................................21
    4.3       Weaknesses .........................................................................................................................................................21
    4.4       Opportunities .....................
								
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