Magal reported earnings of 22 cents a share for the third quarter, up from a loss of 2 cents a share in the year-ago quarter. Revenue grew 67% year over year to $21.5 million for the third quarter, up from $12.8 million in the third quarter of 2013.
"Our third quarter results demonstrate a very strong jump in revenue sequentially and over the comparable period last year," president and CEO Eitan Livneh said. "We saw a strong level of business and improvements in many of the geographic areas in which we operate, in particular North America, Israel, Africa and Mexico."
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TheStreet Ratings team rates MAGAL SECURITY SYSTEMS as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate MAGAL SECURITY SYSTEMS (MAGS) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."
You can view the full analysis from the report here: MAGS Ratings Report