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B.O.S. Better Online Solutions Reports Financial Results For The Fourth Quarter And Fiscal Year Ended December 31, 2013

Stocks in this article: BOSC

RISHON LEZION, Israel, April 14, 2014 (GLOBE NEWSWIRE) -- B.O.S Better Online Solutions Ltd. (the "Company", "BOS") (Nasdaq:BOSC), Israeli provider of RFID and supply chain solutions to global enterprises, today reported its financial results for the fourth quarter and fiscal year ended December 31, 2013.

Highlights for the fourth quarter of year 2013:

  • Consolidated revenues grew by 14.6% to $7.1 million from $6.2 million in the comparable quarter last year. RFID and Mobile solution revenues grew by 40% to $3.3 million from $2.3 million in the comparable quarter last year.  
  • Net profit amounted to $43,000 (including tax expenses of $15,000) as compared to $37,000 (including a tax benefit of $224,000) in the comparable quarter last year.  
  • Net profit on NON GAAP basis amounted to $135,000 (including tax expenses of $15,000) as compared to $347,000 (including a tax benefit of $224,000) in the comparable quarter last year.  
  • EBITDA grew by 78% to $343,000 as compared to $193,000 in year 2012.

Highlights for year 2013:

  • Consolidated revenues grew by 5.7% to $25.9 million from $24.5 million in year 2012. RFID and Mobile solution revenues grew by 17.5% to $10.5 million as compared to $8.9 million in year 2012.  
  • Net loss was reduced to break even (including $13,000 tax expenses) as compared to a net loss of $549,000 (including a $187,000 tax benefit) in year 2012.  
  • Net profit on NON GAAP basis amounted to $536,000 (including $13,000 tax expenses) as compared to $287,000 (including a $187,000 tax benefit) in year 2012.  
  • EBITDA grew by 73% to $1.2 million as compared to $665,000 in year 2012.

Liquidity and loans

Cash and cash equivalents and long term bank deposits amounted to $1.5 million as of December 31, 2013. The trend of reduction in loans has continued and by December 31, 2013 our loans were reduced to $7.5 million, from $8.4 million as of December 31, 2012. We expect a further reduction in our loans in year 2014.

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