Leading Israeli provider of RFID and Mobile solutions, B.O.S. Better OnLine Solutions, Ltd. (NASDAQ:BOSC), releases results for Q3, 2016.
RISHON LEZION, Israel, Nov. 28, 2016 (GLOBE NEWSWIRE) — B.O.S. Better Online Solutions Ltd. (the “Company”, “BOS”) (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.”
The BOS management team will host a conference call to discuss third quarter 2016 results on November 28, 2016, at 10 AM EST, 5:00 p.m. Israel time. To access the conference call, please dial one of the following numbers:US: +1-888-281-1167, International: +972-3-9180644.
Script of the call will be available the next day after the call on BOS’ website, at: http://www.boscorporate.com. For those unable to listen to the live call, a script of the call will be available the next day after the call on BOS’s website, at: http://www.boscorporate.com
B.O.S. Better Online Solutions Ltd. (BOSC) is a leading Israeli provider of RFID and Mobile solutions and a global provider of Supply Chain solutions to enterprises. BOS’ RFID and Mobile division offers both turnkey integration services as well as stand-alone products, including best-of-breed RFID and AIDC hardware and communications equipment, BOS middleware and industry-specific software applications. The Company’s Supply Chain division provides electronic components consolidation services to the aerospace, defense, medical and telecommunications industries as well as to enterprise customers worldwide. For more information, please visit: www.boscorporate.com.
Use of Non-GAAP Financial Information
BOS reports financial results in accordance with U.S. GAAP and herein provides some non-GAAP measures. These non-GAAP measures are not in accordance with, nor are they a substitute for, GAAP measures. These non-GAAP measures are intended to supplement the Company’s presentation of its financial results that are prepared in accordance with GAAP. The Company uses the non-GAAP measures presented to evaluate and manage the Company’s operations internally. The Company is also providing this information to assist investors in performing additional financial analysis that is consistent with financial models developed by research analysts who follow the Company. The reconciliation set forth below is provided in accordance with Regulation G and reconciles the non-GAAP financial measures with the most directly comparable GAAP financial measures.
B.O.S. Better OnLine Solutions, Ltd. (NASDAQ:BOSC) shares are trading -13.73% on the news and in the range of $1.82 – 2.04 during the current trading session. When taking a look at which direction the stock might be headed, investors often look to brokerage analysts who cover the stock. This is according to brokerage analysts polled by Thomson Reuters First Call.
Are Shares of B.O.S. Better OnLine Solutions, Ltd. (NASDAQ:BOSC) Ready to Explode? Sign up to our Newsletter to be the First to Know
Sign up to get our Free Penny Stock Picks Before the Street!
In looking at where the stock is trading on a technical level, the stock is trading -6.14% away from its 50-day moving average of $2.14. Based on the most recent available data, the equity is -58.56% off of its 52-week high of $4.85 and +25.62% away from its 52-week low which is $1.60.
In taking a look at the company’s valuation, the firm’s price to earnings ratio stands at 6.77. Today, the stock opened at $1.97 and the last bid at the time of writing stood at $2.01. During the session thus far, the equity dipped down to $1.82 and touched $2.04 as the high point. B.O.S. Better OnLine Solutions, Ltd. (NASDAQ:BOSC) has a market cap of $5.35M and has seen an average daily volume of 75,806 over the past three months.
Sign Up to Receive Breaking Alerts on Stocks That Are Primed to Make a Run in the Bar Below.
Sign up to get our Free Penny Stock Picks Before the Street!
Disclaimer: Nothing contained in this publication is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.