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

RISHON LEZION, Israel, Dec. 2, 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 September 30, 2013.

Highlights - on a GAAP basis:

  • Revenues for the third quarter of 2013 grew by 16% as compared to the comparable quarter last year. Revenues for the first nine months of 2013 grew by 3%, as compared to the comparable period last year.
  • Net profit for the third quarter of 2013 amounted to $219,000, as compared to a net loss of $66,000 in the comparable period last year. Net loss for the first nine months of 2013 amounted to $43,000 as compared to a net loss of $586,000 in the comparable period last year.

Highlights - on a NON GAAP basis:

  • Net profit for the third quarter of 2013 amounted to $415,000, as compared to a net profit of $124,000 in the comparable period last year. Net profit for the first nine months of 2013 amounted to $401,000, as compared to a net loss of $60,000 in the comparable period last year.
  • EBITDA for the third quarter of 2013 amounted to $495,000, as compared to $175,000 in the comparable period last year. EBITDA for the first nine months of 2013 amounted to $807,000 as compared to $472,000 in the comparable period last year.

Cash and cash equivalents and long term bank deposit amounted to $931,000 as of September 30, 2013, compared to $792,000 as of December 31, 2012. The trend of reduction in loans has continued and by September 30, 2013 our bank loans were reduced to $7 million from $7.6 million as of December 31, 2012, and $9 million as of December 31, 2011. We expect a further reduction in our loans in the next 12 months.

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