Arotech Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenues of USD 22,347,445 compared to USD 25,406,481 a year ago. Operating loss was USD 226,665 compared to operating income of USD 142,943 a year ago. Loss from continuing operations before income tax expense was USD 548,368 compared to USD 168,678 a year ago. Loss from continuing operations was USD 768,308 or USD 0.03 per basic and diluted share compared to USD 382,131 or USD 0.02 per basic and diluted share a year ago. Net loss was of USD 768,308 or USD 0.03 per basic and diluted share compared to USD 643,777 or USD 0.03 per basic and diluted share a year ago. Total adjusted EBITDA was USD 997,630 compared to USD 1,882,288 a year ago. Adjusted net income was USD 26,402,000 or USD 0.01 per share compared to USD 25,920,000 or USD 0.04 per share a year ago.

The company affirmed its 2017 outlook for total revenue of USD 93 to USD 103 million, with adjusted earnings per share (Adjusted EPS) of USD 0.20 to USD 0.24, and adjusted EBITDA of USD 7.5 million to USD 8.5 million. This outlook includes only organic contribution, and does not take any potential acquisition activity into account.