Magal Security Systems (MAGS) Reports Q1 Loss of $0.16 on Revenues of $14.3M

Magal Security Systems (NASDAQ: MAGS) reported Q1 EPS of ($0.16). Revenue for the quarter came in at $14.3 million.

FIRST QUARTER RESULTS SUMMARY

• Revenue grew year-over-year by 14% to $14.3 million;
• Higher level of operating expenses led to operating loss of $0.9 million, primarily due to increased investment in sales and marketing to capitalize on opportunities, particularly in the North American market;
• Incurred non-cash financial-expense of $2.4 million due to a sharp quarterly variation in the US dollar/Israeli shekel exchange rate;
• Net loss of $3.7 million in the quarter;
• EBITDA loss of $0.4 million in the quarter;
• Net cash and equivalents of $50.7 million at quarter-end.

For earnings history and earnings-related data on Magal Security Systems (MAGS) click here.

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