August 29, 2011

RISHON LEZION, Israel, August 29, 2011 – 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 second quarter of 2011.

Highlights of second quarter 2011 results from continuing operation:

1.      Revenues grew by 7.6% to $8.4 million, up from $7.8 million in the same quarter last year.

2.      Operating loss amounted to $89,000 compared to operating income of $376,000 in the same quarter last year.

3.      EBITDA amounted to $139,000 compared to $588,000 in the same quarter last year.

4.      Net loss amounted to $324,000 compared to a net loss of $37,000 in the same quarter last year.

5.      Net loss on a non-GAAP basis amounted to $17,000 compared to net income amounted to $235,000 in the same quarter last year.

6.      Backlog and deferred revenues grew by 14% to $10.3 million, compared to $9 million in June 30, 2010. The majority of the backlog relates to the Supply Chain division.   

Yuval Viner, BOS CEO, stated: “We are continuing to invest in our BOS ID software platform, which, from a strategic point of view, is the growth engine of the RFID & Mobile division for the coming years, in the Israeli market and abroad. Our extensive investment in the BOS ID development was the main factor leading to a net loss on non-GAAP basis of $17,000 for the second quarter. We are currently working to enhance the performance of the BOS ID platform and to shorten the delivery time of software projects. In parallel, we are continuing to invest in development of the international market and have recently retained an international sales manager for this purpose. In August, we won our first RFID pilot project in Spain.

As a result, we are updating our forecast for 2011, as follows:

·         Revenue forecast remains unchanged: we expect revenues to exceed $33 million, compared to $30.2 million in 2010.

·         EBITDA forecast will be reduced to $1.4 million from our initial forecast of $2.3 million, compared to $2.1 million in 2010.

·         Net profit forecast: we will be profitable on non GAAP basis but not on a GAAP basis, as initially forecasted.”

Eyal Cohen, BOS CFO, stated: “In the second quarter we provided $1 million cash from operating activities and our cash increased to $983,000, from $185,000 in March 31, 2011. We have started initial negotiations for an extension or a conversion of our convertible notes, which amounted to $2.7 million in June 30, 2011, which most of it, is due on July 2012. All the holders of the convertible notes are shareholders of BOS. We recently received an approval for a five-year loan from Bank HaPoalim Ltd., which results in a $0.5 million increase to our aggregate credit lines available from Bank Hapoalim and Bank Leumi. This milestone will improve the Company’s working capital, decrease our dependence on one bank and is also expected to reduce our financial costs going forward.”

Conference Call

BOS will host a conference call on Tuesday, August 30, 2011 at 10:00 a.m. Eastern Daylight 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 Q2 2011 results.

August 17, 2011

B.O.S. Scheduled to Release Financial Results for the Second Quarter 2011 on Monday, August 29, 2011

Rishon Lezion, Israel — August 17, 2011 — B.O.S. Better Online Solutions Ltd. (“BOS”) (NASDAQ: BOSC), today announecd that it will report financial results for the second quarter of 2011 prior to the opening of the market on Monday, August 29, 2011.

BOS will host a conference call on Tuesday, August 30, 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

July 10, 2011

B.O.S. Better Online Solutions Ltd. Selected for Intermec ISV Program

Rishon Letzion, Israel — July 11, 2011 — B.O.S.  Better Online Solutions Ltd. (“BOS”) (NASDAQ: BOSC), the developer of the BOS ID platform for assembling data collection applications, today announced that it has been selected by Intermec Inc. (NYSE: IN) to join its global Independent Software Vendor (ISV) partner program in the territories outside of Israel. Intermec is a leading developer of products for identifying, tracking and managing supply chain assets and information.

As part of the Intermec ISV program, BOS will enjoy access to Intermec’s broad PartnerNet community, as well as to robust technical and developer support for development of software applications on Intermec platforms. BOS has been a value-added reseller in Israel of Intermec products for many years, and the two companies believe that this new collaboration will deepen their relationship, to the benefit of their respective customers seeking RFID and supply chain solutions.

BOS ID is a robust platform for system integrators, enabling them to assemble applications without programming, for transfer to any automatic identification data capture (AIDC) client including handheld rugged terminals, barcode readers or mobile PCs.

“We are very pleased to  expand our partnership with Intermec,” said Yuval Viner, BOS CEO. “Customers adopting BOS ID can now take advantage of the many benefits of combining the software with a wide range of Intermec’s mobile and data collection devices.”

“We welcome BOS to our ISV community, and look forward to BOS extending its software expertise outside of Israel. By partnering with the local PartnerNet VAR community in the various countries, we expect  BOS to deliver a superb solution to our local and global customers,” said Mel Taylor, Intermec’s Channel Director in EMEA. “The ISV program was designed to benefit the end-customers by enabling them to focus on their core business, while Intermec’s select ISV and channel partners deliver a superior whole solution customer.

June 30, 2011

B.O.S. Better Online Solutions Ltd. Announces Filing of its Annual Report

Rishon Letzion, Israel — June 30, 2011 — B.O.S. Better Online Solutions Ltd. (“BOS”) (NASDAQ: BOSC), today announced that it has filed its Annual Report on Form 20-F, containing audited consolidated financial statements for the year ended December 31, 2010, with the Securities and Exchange Commission. The Annual Report is available on the Company’s website (www.boscorporate.com). Shareholders may receive a hard copy of the annual report free of charge upon request.

Click here to go directly to the report.

June 27, 2011

B.O.S. Better Online Solutions Ltd. Expands Penetration of Asia Markets

Rishon Letzion, Israel — June 27, 2011 — B.O.S.  Better Online Solutions Ltd. (“BOS”) (NASDAQ: BOSC), today announced that its supply chain division received new orders of $700,000 from customers in Asia. This is in addition to $1.6 million orders already received from Asian customers during the first six months of 2011, for delivery this year. These orders exceed the revenues of the supply chain division from Asian customers in all of 2010, which amounted to $2.2 million.

“These orders reflect our ongoing efforts to penetrate growing markets, in particular China and India,” said Avidan Zelicovsky, BOS President. “We view the Asian markets as important and promising, with strong growth potential. These new orders reflect our success in providing value-added services and components to our customers worldwide.”

BOS’ supply chain division offers electronic components (passive, active and electro-mechanical) and components consolidation services to manufacturers in the defense, commercial, industrial and aerospace markets, and provides design-in, sales and engineering service and support for various components.

May 25, 2011

B.O.S. Announces Financial Results for First Quarter of 2011

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.”

Conference Call
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.

May 16, 2011

B.O.S. Scheduled to Release Financial Results for First Quarter 2011 on Wednesday, May 25, 2011

Rishon Letzion, Israel — May 16, 2011 — B.O.S. Better Online Solutions Ltd. (“BOS”) (NASDAQ: BOSC) today announced that it will report financial results for the first quarter of 2011 prior to the opening of the market on Wednesday, May 25, 2011.

BOS will host a conference call on Thursday, May 26th, 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

Mar. 22, 2011

B.O.S. Announces Net Profit from Continued Operations in Fourth Quarter and Annual 2010 Results

RISHON LEZION, Israel, March 22, 2010 – 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 fourth quarter and for the year ended December 31, 2010.

Highlights of fourthquarter 2010 results from continuing operations:

  1. Revenues grew by 24% to $7.8 million, up from $6.3 million in the same quarter last year.
  2. Operating income amounted to $264,000, compared to an operating loss of $2 million in the same quarter last year. This is the fourth consecutive quarter in 2010 that BOS has posted an operating income.
  3. EBIDTA amounted to $453,000, compared to a negative EBITDA of $1.7 million in the same quarter last year.
  4. Net income amounted to $84,000, compared to a net loss of $2.9 million in the same quarter last year. This is the third consecutive quarter in 2010 that BOS has posted a net profit.
  5. Net income (excluding amortization of intangible assets and stock-based compensation) amounted to $289,000, compared to a net loss of $2.5 million in the same quarter last year.   

Highlights of annual 2010 results from continuing operations:

  1. Revenues grew by 18% to $30.2 million, up from $25.5 million in the same period last year.
  2. Operating income amounted to $1.3 million, compared to an operating loss of $4.7 million in the same period last year.
  3. EBIDTA amounted to $2.1 million, compared to a negative EBITDA of $3.1 million in the same period last year.
  4. Net profit amounted to $171,000, compared to a net loss of $6 million in the same period last year.
  5. Net profit (excluding amortization and impairment of intangible assets and stock based compensation) was $1.0 million, compared to a net loss of $4.5 million in the same period last year.
  6. Positive cash flows from operating activities amounted to $1.5 million, compared to $21,000 in the same period last year. 

Review of annual 2010 results from discontinued operations
Losses from discontinued operations amounted to $806,000 in 2010, compared to a loss of $3.1 million in 2009.  Losses from discontinued operations related to the closing of two U.S. subsidiaries, which were part of the Company’s supply chain division, during the fourth quarter of 2010. The Company does not anticipate further expenses and holds no assets or liabilities related to these discontinued operations, as of December 31, 2010.

Yuval Viner, BOS CEO, stated: “We are pleased to report ongoing growth trends and improved results for our continuing operations, for the fourth consecutive quarter in 2010. We expect a net profit (on a GAAP basis) in 2011. Our outlook for revenues in 2011 is at least $33 million, reflecting a 10% growth over 2010 continued operations. We are also forecasting EBITDA to grow by 10% or more, to at least $2.3 million, compared to $2.1 million last year. We are in the process of establishing partnerships with systems integrators in Europe, and we expect 2011 to be the first year of international sales of our BOS ID software platform.”

Avidan Zelicovsky, BOS President, stated: “The supply chain division has had a strong start in 2011, and we are continuing to diversify in terms of the types of customers we are serving. Our supply chain international customer base is expected to show continued growth in 2011.”

Conference Call

BOS will host a conference call on Wednesday, March 23, 2011 at 10:00 a.m. Eastern Standard Time / 4:00 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.

Mar. 9, 2011

B.O.S. Better Online Solutions Scheduled to
Release Full-Year 2010 Financial Results on Tuesday, March 22, 2011

Rishon Letzion, Israel — March 9, 2011 — B.O.S.  Better Online Solutions Ltd. (“BOS”) (NASDAQ: BOSC), today announced that it will report financial results for 2010 prior to the opening of the market on Tuesday, March 22, 2011.

BOS will host a conference call on Wednesday, March 23, 2011 at 10:00 a.m. Eastern Standard Time / 4:00 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