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March 19, 2013 /PRNewswire/ --
SuperCom Ltd (OTC: SPCBF), a leading provider of e-ID, Security, HealthCare, Homecare, and Electronic Monitoring Solutions, today announced its results for the fourth quarter and FY 2011 ended
December 31, 2012.
Financial Highlights fortheFY2012vs. FY 2011
Revenues increased 13% to $8.94 million, compared to $7.92 million;
Gross Profit increased 59% to $7.3 million, compared to $4.6 million;
Gross Profit Margin increased to 82%, compared to 58%;
Operating expenses increased 14% to $5.3 million, compared to $4.6 million;
Operating income increased substantially to $2 million, compared to $54 thousand;
Net Income increased by over 4 times, to $4.8 million, compared to $1 million;
Financial Highlights forthe4Q2012vs. 4Q 2011
Revenues increased 65% to $3.2 million, compared to $1.9 million;
Gross Profit increased 280% to $3.2 million, compared to $1.1 million;
Operating expenses increased 36% to $2.6 million, compared to $1.9 million;
Operating income increased to $580 thousand, compared to a loss of $727 thousand;
Net Income increased 55% to $1.55 million, compared to $1 million;
"We are very pleased with our performance in 2012, which was a fantastic turnaround year for us, our growth in revenue, our strong and steady profitability approaching 23% Operating Margin with operating income of
$2.0 million , was a key milestone for SuperCom." commented
Arie Trabelsi, CEO of SuperCom. "We are optimistic with our ability to continually build on this progress within four of the most dynamic industries in the world, as we focus on delivering value for our customers, employees and shareholders."
"In comparison to last year, we successfully expanded our gross profit margin and significantly reduced our operating expenses by implementing our restructuring plan," Mr. Trabelsi added. "These efforts positions us well to complete our process to increase our financial strength, putting us on the right path to achieve our business goals in becoming a key global player in the rapidly growing national e-ID, Electronic Monitoring for law enforcement, homecare, and healthcare arena."