Rit Technologies Ltd. (RITT) Posts Q4, FY 2010 Results, Notes Room for Growth
RiT Technologies, a leading intelligent solutions provider, today announced its financial results for the fourth quarter and full year ended December 31, 2010. The company reported revenues for the fourth quarter of 2010 at $2.8 million, up 29 percent compared with $2.2 million for the fourth quarter of last year. Net loss for the quarter was $1.1 million, or $0.28 per share on a basic and diluted basis, compared with $1.6 million, or $0.61 per share on a basic and diluted basis, in the parallel quarter of 2009. For the 12 months ended December 31, 2010, RiT posted a 32-percent…