Magal Security Systems (MAGS) Reports Q3 Loss of $0.01 on Revenues of $13.7M

Magal Security Systems (NASDAQ: MAGS) reported Q3 EPS of ($0.01). Revenue for the quarter came in at $13.7 million.

THIRD QUARTER RESULTS SUMMARY

• Revenue of $13.7 million, up 3% sequentially;
• Breakeven on EBITDA compared with a loss of $1.2 million in the prior quarter;
• Operating expenses have narrowed significantly;
• Net loss of $0.2 million in the quarter, significant improvement versus net loss of $3.3 million in prior quarter
• Net cash and equivalents of $48.0 million at quarter-end;
• Strong bookings in the third quarter;
• Expect sequential revenue growth for the fourth quarter.

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

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