Magal Security Systems Ltd. Reports First Quarter 2021 Financial Results
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Magal Security Systems (MAGS) Reports Q1 Revenues of $6.5M
May 24, 2021 9:46 AM EDTMagal Security Systems (NASDAQ: MAGS) reported Q1 EPS of ($0.03), versus $0.02 reported last year. Revenue for the quarter came in at $6.5 million, versus $7.6 million reported last year.
FIRST QUARTER 2021 RESULTS*
Revenue of $6.5 million compared to $7.6 millionGross margin of 62.1% compared to 64.8%Operating loss of ($681,000) compared to ($214,000)Net loss attributable to Magal's shareholders of ($2.0) million, including ($1.2) million loss from discontinued operations, compared to net income of $0.4 millionEBITDA from continuing operations of ($369,000) compared to $80,000Mr. Dror Sharon, Chief Executive Officer of Magal, said, "Following the execution of the sale agreement... More
