Nov 13, 2013 (Menafn - M2 EQUITYBITES via COMTEX) --RRsat Global Communications Network Ltd RRST, a provider of comprehensive digital content management and global content distribution services to the broadcasting industry, on Tuesday reported GAAP net income of USD1.1m, or USD0.06 per diluted share, for the third quarter of 2013, ended 30 September 2013.
This was a decline over GAAP net income of USD2.4m, or USD0.14 per diluted share, in the third quarter of 2012.
Revenues for the quarter were a record USD30.6m, up by 7.3% as compared with USD28.5m in Q3 of 2012.
Also, the company provided guidance for Q4 2013 and expects revenues in the range of USD31.5m to USD33.5m, representing a 7% to 14% year-over-year growth. In addition, RRSat reiterated its expectation of full-year 2013 revenues in the range of USD120m to USD125m, representing a 6% to 10% year-over-year growth.
Further, the company's board of directors has adopted a new dividend policy under which, subject to applicable law and the discretion of the board from time to time, it shall distribute a dividend to the shareholders at the end of each calendar quarter equal to 50% of the net income recorded in the company's quarterly financial statements for the quarter.
As a result of this new policy, on 11 November 2013, the company's board declared a cash dividend of USD0.03 per ordinary share and in the aggregate amount of approximately USD550,000, representing 50% of the company's net income for the third quarter of 2013.
This dividend is payable on 11 December 2013 to all shareholders of record at the end of the trading day on the Nasdaq on 25 November 2013.