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 CallBOS will host a conference call on Wednesday, March 23, 2011 at 10:00 a.m. Eastern Daylight 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|