B.O.S. Better Online Solutions Reports Financial Results For The Third Quarter Of Fiscal Year 2016

RISHON LEZION, Israel, Nov. 28, 2016 (GLOBE NEWSWIRE) -- B.O.S. Better Online Solutions Ltd. (the "Company", "BOS") (Nasdaq:BOSC), a leading Israeli provider of RFID and Mobile solutions and a global provider of Supply Chain solutions to enterprises, today reported its financial results for the third quarter of fiscal year 2016.

Net loss of for the third quarter of 2016 amounted to $205,000, as compared to a net profit of $115,000 in the comparable quarter last year. Net profit for the first nine months of 2016 amounted to $141,000, as compared to a net profit of $120,000 in the comparable period last year.

Yuval Viner, BOS' CEO, stated: "Third quarter results were affected by the results of the Next-Line activity that we've acquired in January 2016. Next-Line provides inventory counting services, and most of its business is at year-end. Consequently, we expect improved results for Next-Line in the fourth quarter of 2016. In addition, since the acquisition of Next-Line, we have invested significant resources and implemented major changes in its operations, in order to support the growing demand for its services, its expansion to additional markets, and improved efficiency and control. We believe that the costs incurred in connection with Next-Line in 2016 will yield positive results in 2017.

"We continue to anticipate that our 2016 results will reflect an increase in revenues and profits as compared to 2015," Yuval Viner added.

Avidan Zelicovski, BOS' President, stated: "I am pleased with the continued expansion of the Supply Chain division business in India. I believe that the Indian market presents significant growth potential for the Company going forward."

Eyal Cohen, BOS' CFO, stated: "As of September 30, 2016, our cash and deposits amounted to $1.3 million and our bank debt amounted to $3.3 million (decreased by $550,000 as compared to December 31, 2015). Our last twelve months EBITDA amounted to $1.1 million. We continue to seek opportunities to grow our RFID and Mobile division and our Supply Chain division through acquisition of complementary businesses."

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