Retalix, an Israeli provider of software solutions to the retail food industry, said yesterday [Tuesday] its third quarter results were in line with a preliminary announcement on 1 October 2002.
Revenue for the third quarter was a record US$20.4m, an increase of 36% compared with the same period last year, and operating income rose to US$2m, compared with US$569,000 in the same period last year, according to a report in Globes.
The company reported net profit of US$1.6m, or US$0.13 per share, compared with profit of US$362,000, or US$0.03 per share in the third quarter of 2001.
Retalix chairman and CEO Barry Shaked is quoted in the report saying that in the third quarter, Retalix achieved “excellent top-line momentum, with revenues up over 18% sequentially and 36% from the third quarter of 2001. This is partly due to the strong start of our StoreNext USA joint venture with Fujistu, which began operations in July.”
According to the report, Retalix said its financial position remained strong, “with US$31.1m in cash, equivalents and financial resources, and shareholders’ equity of US$54.9m.”