Arad Ltd
TASE:ARD
Income Statement
Earnings Waterfall
Arad Ltd
Revenue
|
361.2m
USD
|
Cost of Revenue
|
-253m
USD
|
Gross Profit
|
108.2m
USD
|
Operating Expenses
|
-74.9m
USD
|
Operating Income
|
33.3m
USD
|
Other Expenses
|
-6.3m
USD
|
Net Income
|
27m
USD
|
Income Statement
Arad Ltd
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
156
N/A
|
162
+4%
|
164
+1%
|
171
+4%
|
168
-2%
|
171
+2%
|
170
0%
|
165
-3%
|
164
-1%
|
162
-1%
|
159
-2%
|
158
0%
|
161
+2%
|
161
+0%
|
165
+2%
|
169
+3%
|
171
+1%
|
175
+2%
|
183
+4%
|
187
+2%
|
204
+9%
|
214
+5%
|
228
+7%
|
251
+10%
|
264
+5%
|
271
+3%
|
265
-2%
|
260
-2%
|
250
-4%
|
259
+3%
|
270
+5%
|
277
+2%
|
281
+2%
|
288
+2%
|
301
+5%
|
310
+3%
|
324
+5%
|
343
+6%
|
353
+3%
|
361
+2%
|
361
+0%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(98)
|
(101)
|
(103)
|
(107)
|
(105)
|
(107)
|
(107)
|
(103)
|
(102)
|
(101)
|
(99)
|
(98)
|
(100)
|
(100)
|
(102)
|
(105)
|
(115)
|
(117)
|
(122)
|
(125)
|
(129)
|
(138)
|
(149)
|
(165)
|
(175)
|
(181)
|
(178)
|
(175)
|
(169)
|
(176)
|
(183)
|
(188)
|
(192)
|
(196)
|
(205)
|
(210)
|
(221)
|
(234)
|
(243)
|
(251)
|
(253)
|
|
Gross Profit |
58
N/A
|
60
+4%
|
62
+2%
|
64
+5%
|
63
-2%
|
64
+1%
|
63
-1%
|
62
-2%
|
61
-1%
|
61
-1%
|
60
-1%
|
60
0%
|
61
+2%
|
61
+1%
|
63
+2%
|
64
+3%
|
57
-11%
|
58
+2%
|
61
+5%
|
62
+1%
|
75
+21%
|
76
+2%
|
80
+5%
|
86
+7%
|
89
+4%
|
90
+2%
|
87
-4%
|
85
-3%
|
81
-5%
|
83
+3%
|
87
+5%
|
89
+2%
|
90
+1%
|
92
+3%
|
97
+5%
|
100
+4%
|
104
+3%
|
109
+5%
|
110
+1%
|
110
+1%
|
108
-2%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(41)
|
(42)
|
(44)
|
(46)
|
(45)
|
(45)
|
(44)
|
(43)
|
(41)
|
(42)
|
(40)
|
(40)
|
(41)
|
(41)
|
(43)
|
(45)
|
(46)
|
(47)
|
(48)
|
(49)
|
(51)
|
(52)
|
(55)
|
(58)
|
(61)
|
(62)
|
(61)
|
(60)
|
(58)
|
(60)
|
(63)
|
(64)
|
(64)
|
(67)
|
(69)
|
(71)
|
(72)
|
(74)
|
(76)
|
(76)
|
(75)
|
|
Selling, General & Administrative |
(33)
|
(34)
|
(35)
|
(37)
|
(35)
|
(36)
|
(36)
|
(35)
|
(33)
|
(34)
|
(32)
|
(32)
|
(30)
|
(32)
|
(33)
|
(34)
|
(34)
|
(36)
|
(37)
|
(37)
|
(39)
|
(40)
|
(42)
|
(45)
|
(44)
|
(47)
|
(46)
|
(44)
|
(39)
|
(43)
|
(45)
|
(46)
|
(44)
|
(48)
|
(49)
|
(50)
|
(49)
|
(53)
|
(54)
|
(54)
|
(51)
|
|
Research & Development |
(8)
|
(8)
|
(9)
|
(9)
|
(9)
|
(9)
|
(8)
|
(8)
|
(8)
|
(9)
|
(9)
|
(9)
|
(9)
|
(10)
|
(10)
|
(10)
|
(11)
|
(11)
|
(11)
|
(12)
|
(12)
|
(13)
|
(13)
|
(14)
|
(14)
|
(15)
|
(16)
|
(16)
|
(16)
|
(13)
|
(13)
|
(14)
|
(16)
|
(20)
|
(21)
|
(21)
|
(19)
|
(22)
|
(22)
|
(22)
|
(19)
|
|
Depreciation & Amortization |
0
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(3)
|
0
|
0
|
0
|
(3)
|
0
|
0
|
0
|
(5)
|
0
|
0
|
0
|
(5)
|
0
|
0
|
0
|
(5)
|
|
Other Operating Expenses |
(0)
|
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
1
|
0
|
1
|
0
|
0
|
0
|
(0)
|
(0)
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
0
|
1
|
0
|
(0)
|
0
|
(4)
|
(4)
|
(4)
|
0
|
1
|
1
|
1
|
0
|
0
|
0
|
0
|
0
|
|
Operating Income |
17
N/A
|
18
+4%
|
18
-3%
|
19
+6%
|
18
-1%
|
19
+3%
|
19
+1%
|
19
+0%
|
20
+5%
|
19
-5%
|
20
+3%
|
20
-1%
|
20
+3%
|
20
0%
|
19
-4%
|
19
+1%
|
11
-43%
|
12
+4%
|
13
+13%
|
13
-1%
|
23
+81%
|
24
+2%
|
25
+6%
|
28
+11%
|
28
+0%
|
28
+2%
|
26
-8%
|
25
-7%
|
22
-9%
|
23
+4%
|
24
+5%
|
25
+1%
|
25
+1%
|
25
-1%
|
28
+12%
|
30
+6%
|
32
+7%
|
34
+9%
|
34
-1%
|
35
+2%
|
33
-4%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(0)
|
0
|
(0)
|
0
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
(1)
|
(1)
|
(0)
|
(2)
|
(2)
|
(3)
|
(5)
|
(3)
|
(5)
|
(4)
|
(4)
|
(2)
|
(4)
|
(3)
|
(2)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(0)
|
(1)
|
(2)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total Other Income |
0
|
0
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(0)
|
(1)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
(0)
|
(1)
|
(1)
|
(1)
|
(0)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(2)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
(0)
|
|
Pre-Tax Income |
17
N/A
|
18
+4%
|
17
-3%
|
18
+4%
|
18
-1%
|
19
+5%
|
19
+4%
|
19
-3%
|
19
-1%
|
19
0%
|
19
+1%
|
19
+2%
|
20
+3%
|
20
+0%
|
19
-3%
|
19
+1%
|
11
-44%
|
11
-2%
|
12
+13%
|
12
+3%
|
21
+72%
|
22
+2%
|
22
+0%
|
23
+6%
|
24
+4%
|
24
-1%
|
22
-7%
|
20
-7%
|
18
-11%
|
20
+8%
|
22
+11%
|
23
+5%
|
24
+4%
|
24
+1%
|
26
+7%
|
28
+8%
|
29
+5%
|
32
+12%
|
34
+4%
|
33
-1%
|
31
-6%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(5)
|
(12)
|
(11)
|
(12)
|
(11)
|
(5)
|
(4)
|
|
Income from Continuing Operations |
15
|
16
|
16
|
16
|
15
|
16
|
17
|
16
|
17
|
17
|
16
|
17
|
17
|
17
|
17
|
17
|
8
|
8
|
9
|
9
|
19
|
19
|
19
|
20
|
21
|
20
|
19
|
17
|
16
|
17
|
19
|
20
|
20
|
20
|
21
|
16
|
18
|
21
|
23
|
29
|
27
|
|
Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
|
Net Income (Common) |
15
N/A
|
16
+5%
|
16
-3%
|
16
+4%
|
15
-4%
|
16
+3%
|
17
+6%
|
16
-3%
|
17
+1%
|
17
+1%
|
16
-3%
|
17
+3%
|
17
+2%
|
17
-1%
|
17
-1%
|
17
-1%
|
8
-53%
|
8
+0%
|
9
+14%
|
9
+3%
|
19
+101%
|
19
+2%
|
19
+1%
|
20
+6%
|
20
+1%
|
20
+1%
|
19
-8%
|
17
-9%
|
16
-8%
|
17
+8%
|
19
+10%
|
20
+8%
|
20
+0%
|
20
-1%
|
21
+5%
|
16
-25%
|
17
+11%
|
21
+18%
|
22
+8%
|
28
+28%
|
27
-5%
|
|
EPS (Diluted) |
0.63
N/A
|
0.66
+5%
|
0.64
-3%
|
0.66
+3%
|
0.63
-5%
|
0.65
+3%
|
0.68
+5%
|
0.66
-3%
|
0.67
+2%
|
0.67
N/A
|
0.66
-1%
|
0.68
+3%
|
0.69
+1%
|
0.69
N/A
|
0.68
-1%
|
0.67
-1%
|
0.32
-52%
|
0.32
N/A
|
0.36
+13%
|
0.37
+3%
|
0.75
+103%
|
0.76
+1%
|
0.77
+1%
|
0.82
+6%
|
0.82
N/A
|
0.83
+1%
|
0.76
-8%
|
0.69
-9%
|
0.63
-9%
|
0.68
+8%
|
0.75
+10%
|
0.81
+8%
|
0.81
N/A
|
0.8
-1%
|
0.84
+5%
|
0.63
-25%
|
0.7
+11%
|
0.83
+19%
|
0.9
+8%
|
1.15
+28%
|
1.09
-5%
|