B.O.S. Announces Financial Results for First Quarter of 2011
Company Reports Net Profit and Revenue Growth
RISHON LEZION, Israel, May 25, 2011 (GLOBE NEWSWIRE) - B.O.S. Better Online Solutions Ltd. (the "Company", "BOS") (Nasdaq: BOSC), a leading Israeli provider of RFID and supply chain solutions to global enterprises, today reported its financial results for the first quarter of 2011.
Highlights of first quarter 2011 results:
1. Revenues grew by 23% to $9.1 million, up from $7.4 million in the same quarter last year.
2. Operating income grew to $376,000 up from $147,000 in the same quarter last year.
3. EBITDA grew to $570,000, up from $359,000 in the same quarter last year.
4. Net income amounted to $34,000, compared to a net loss of $100,000 in the same quarter last year.
Yuval Viner, BOS CEO, stated: "We have commenced 2011 with a positive trend in sales and earnings that reflects continued improvement in the Company’s RFID and mobile solutions and supply chain solutions segments."
"We are continuing to invest in research and development in order to further enhance our software platform, BOS ID. We are working to establish sales channels for BOS ID through partnerships with systems integrators in Europe," Viner added.
Edouard Cukierman, BOS Chairman, stated: "Once again we are very pleased to report a net profit and we expect that this positive trend will continue going forward. We believe that management will be successful in hitting its revenue and profit targets for 2011."
BOS will host a conference call on Thursday, May 26, 2011 at 10:00 a.m. Eastern Standard Time / 5:00 p.m. Israel Time. A question-and-answer session will follow management's presentation. Interested parties may participate in the conference call by dialing the following numbers approximately five to ten minutes before the call start time:
North America + 1-888-668-9141
Israel + 03-9180685
International + 972-3-9180685
For those unable to listen to the live call, a replay of the call will be available from the day after the call on BOS's website, at: http://www.boscorporate.com
Click here to download the full Q1 2011 results.