By Alexander Moschina
Sometimes, stocks soar for no apparent reason.
Take RiT Technologies (Nasdaq: RITT), for example. On October 22, shares of the Israeli tech company blasted more than 200% higher… with no news to support the jump. No buyout offer. No big licensing deal. Nothing.
But now that it’s in the spotlight, investors are taking notice. And as it turns out, this small tech’s leap was long overdue.
In fact, it just released a cutting-edge product that could take its networking business to the next level.
RiT’s New Hardware Will Grow Sales Exponentially
In a computer network, when a device is added it takes up a port. RiT’s new Smart LC-MPO creates more ports - a lot more. Each individual cassette creates 48 new ports. And at half the size of competing brands, they can maximize a network’s potential without taking up so much space.
It’s the only datacenter hardware of its kind. But most importantly, it works easily with PatchView, RiT’s industry-leading network software. This software gives network administrators “real time” control – something every admin wants. That’s why PatchView is currently RiT’s most significant source of revenue. And for the companies using it, the Smart LC-MPO will be a must-have.
RiT reported a 48% increase in revenue for the first half of 2010, versus last year’s period, and slashed its net loss by 53%. And over the coming years, these complementary products will not only multiply RiT’s profits, they will ensure a continued revenue stream.
Combined with some impressive earnings, things certainly look promising for RiT. As we head into 2011, the good news should continue, only this time the markets will be listening.
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