This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

B.O.S. Announces Financial Results For Second Quarter Of 2013

RISHON LEZION, Israel, Aug. 28, 2013 (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 three months ended June 30, 2013.

Revenues for the second quarter of fiscal 2013 amounted to $6.7 million, compared to $5.9 million in the previous quarter of this year and the comparable quarter last year.

On a non-GAAP basis, the net profit for the second quarter of 2013 was $76,000, compared to a net loss of $90,000 in the previous quarter of this year and a net profit of $10,000 in the comparable quarter of last year.

Net loss for the second quarter of fiscal 2013 amounted to $59,000, compared to net loss of $203,000 in the previous quarter of this year and a net loss of $214,000 in the comparable quarter last year.

Avidan Zelicovsky, BOS President, stated: "We are pleased with the improvement in our financial results as compared to the comparable quarter last year and the first quarter this year. In the first half of the year we faced a reduction in the gross margin of the Supply Chain Division. The reduction is attributed to the expansion of our business in India which carries lower gross margins. We anticipate improvement in the gross margin of the Supply Chain Division in the second half of year 2013."

Eyal Cohen, BOS CFO, stated: "Our cash and cash equivalents and long term bank deposit amounted to $856,000 as of June 30, 2013 and $792,000 as of December 31, 2012.

Our bank loans as of June 30, 2013 were reduced to $8.1 million from $8.4 million as of December 31, 2012. We expect a further reduction of loans during year 2013."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
SYM TRADE IT LAST %CHG

Markets

DOW 18,272.36 -13.38 -0.07%
S&P 500 2,129.30 -1.52 -0.07%
NASDAQ 5,096.2420 +5.4480 0.11%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs