Naz News, Gappers and FLE's

[George the Greek]

In some ARTX here 5.35...

Earnings yesterday.
Tody, acquiring another company.

8:30 am Arotech announced that it has acquired UEC Electronics; issues FY14 guidance following acquisitions (ARTX) :

The initial acquisition price of UEC under the contract entered into with the seller of UEC consisted of $28.0 mln in cash and 775,000 shares of Arotech's common stock, plus a potential earn-out of $5.5 mln over the next two calendar years. On March 31, 2014, the closing price of Arotech's common stock on the Nasdaq Global Market was $6.22 per share, causing the common stock issued in the acquisition to be valued for accounting purposes at $4.82 mln, subject to potential reduction to reflect the fact that the stock being issued in the acquisition is unregistered and not freely tradable.
Arotech's primary bank has funded $22.5 mln of the cash requirement ($18.0 mln at a 2014 rate of LIBOR plus 3.75% and $4.5 mln at a 2014 rate of LIBOR plus 5.5%), which Arotech expects to pay back over the next five years out of its operating cash flow.
For the full year 2014, including UEC's results for the last nine months of 2014, Arotech expects revenues to be between $117 mln and $123 mln, and EBITDA to be in the range of between $8.0 mln and $8.5 mln (no comparable ests). Est without acquisition for revenue is $93 mln