Arad Group Reports Record Results on Smart Water-Meter Sales

Arad Group, a developer of smart water-meters that reduce waste and energy, reported record results in 2013 as sales increased 15 percent to $156.1 million on higher revenue from the U.S., Israeli and Spanish markets.

Net income rose almost 21 percent to $15.3 million last year compared with the year-earlier period, the Israel-based company said today in a statement. Fourth-quarter profit climbed 46 percent, it said.

Source: Bloomberg