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Magal Security Systems Reports Record Fourth Quarter And Full Year 2011 Financial Results

Stocks in this article: MAGS

YAHUD, Israel, April 4, 2012 /PRNewswire/ --

Magal S3 Ltd. (NASDAQ GMS: MAGS) today announced its financial results for the three and twelve month period ended December 31, 2011. Management will hold an investors' conference call later today, at 10:00 a.m. Eastern Time and 5:00 p.m. Israel time, to discuss the results.

FOURTH QUARTER 2011 RESULTS SUMMARY

Revenues in the fourth quarter of 2011 increased year-over-year by 122.9% to a record $33.7 million, compared with $15.1 million in the fourth quarter of 2010.

Gross profit in the quarter was $15.4 million, or 45.8% of revenues, an increase of 174.8% compared to gross profit of $5.6 million, or 37.1% of revenues, in the fourth quarter of 2010.

Operating profit in the quarter was $5.0 million, or 14.8% of revenues, compared to an operating loss of $0.6 million in the fourth quarter of 2010.

Financial expenses in the quarter amounted to $73,000 compared to financial expenses of $405,000 in the fourth quarter of 2010.

Tax expenses in the quarter were $668,000, compared with $556,000 in the fourth quarter of 2010.

Net income in the quarter was $4.3 million, compared with a net loss of $1.5 million in the fourth quarter of 2010.

Earnings per share in the fourth quarter of 2011 were $0.27, compared with a net loss per share of $0.14 in the same period last year.

FULL YEAR 2011 RESULTS

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