Retalix, an Israeli manufacturer of software solutions for the food retail industry, announced this week it expects its fourth quarter revenues to exceed US$22m, up 40% compared with the corresponding period in 2001.
Go deeper with GlobalData
The fourth quarter results are 6% higher than earlier estimates and up 8% on the preceding quarter. A report in Haaretz notes that Retalix expects its revenues and profits to continue to grow in 2003. The company expects its 2002 revenues to reach $75.9m, up 28% from the previous year, “which means earnings of $0.46 per share.”
Most of Retalix’ growth is on the US market. In 2002, the company increased its operations in the USA through a joint venture with the Japanese Fujitsu, offering independent food retailers an integrated solution with Fujitsu hardware and Retalix software. “The joint venture is going into high gear. Retalix has become a dominant force on the U.S. market,” Retalix CFO Danny Moshaioff claims, commenting that 90% of Retalix sales are abroad.
He added that Retalix has “the right product at the right time and our market is hurting less than others,” noting that during a recession, when people go less to restaurants, “food retailers see an increased demand.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
