Israel’s Arel Communications and Software reported that revenues for the fourth quarter of 2002 were $1.295 million, an increase of 56 percent compared to $829,000 for the third quarter of 2002, and a decrease of 50 percent compared to $2.572 million for the fourth quarter of 2001.
Gross profit for the fourth quarter of 2002 was $656,000 compared to a gross profit of $1.855 million during the same period of 2001, a decrease of 64 percent. In 2002, Arel incurred $2. 218 million in research and development expenses compared with $2.804 million in 2001, a decrease of 21 percent. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
