Last $5.48 USD
Change Today +0.31 / 6.00%
Volume 154.8K
MAGS On Other Exchanges
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NASDAQ GM
As of 1:54 PM 11/26/14 All times are local (Market data is delayed by at least 15 minutes).

magal security sys ltd (MAGS) Key Developments

Magal Security Systems Ltd. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Magal Security Systems Ltd. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company’s revenue increased 67% to $21.5 million from $12.8 million for the third quarter of 2013 and increased 32% from $16.2 million in the second quarter of 2014. Operating income was $2.6 million, compared to an operating loss of $0.1 million in the third quarter of 2013. Net income was $3.6 million, or $0.22 per share, compared with a net loss of $0.4 million, or $0.02 per share, in the third quarter of 2013. Income before income taxes was $3,949,000 compared to loss before income taxes of $470,000 a year ago. Net income attributable to the company’s shareholders was $3,634,000 compared to net loss attributable to the company’s shareholders of $316,000 a year ago For the nine months, the company reported revenue of $50,227,000 compared to $38,523,000 a year ago. Operating loss was $285,000 compared to $2,090,000 a year ago. Income before income taxes was $792,000 compared to loss before income taxes of $2,178,000 a year ago. Net income was $478,000 compared to net loss of $2,185,000 a year ago. Net income attributable to the company’s shareholders was $533,000 compared to net loss attributable to the company’s shareholders of $2,108,000 a year ago. Basic and diluted earnings per share were $0.03 compared to basic and diluted loss per share of $0.13 a year ago.

Magal Security Systems Ltd., Q3 2014 Earnings Call, Nov 20, 2014

Magal Security Systems Ltd., Q3 2014 Earnings Call, Nov 20, 2014

Magal Security Systems Ltd. to Report Q3, 2014 Results on Nov 20, 2014

Magal Security Systems Ltd. announced that they will report Q3, 2014 results at 5:00 PM, Israel Standard Time on Nov 20, 2014

Magal Security Systems Ltd. Announces Board Changes

Magal Security Systems Ltd. announced that Mr. Gillon Beck, a member of the company’s board of directors, has been appointed as the new chairman of the Board, replacing Mr. Barry Stiefel, who remains a member of the Board. In addition, the Board appointed two independent directors, Mr. Jacob Berman and Mr. Avraham Bigger, to serve as members of its Audit Committee. Mr. Berman and Mr. Bigger join Ms. Liza Singer on the Audit Committee, all of whom satisfy the respective independence requirements of the SEC and NASDAQ. Ms. Singer, who is the Audit Committee financial expert, also qualifies as an External Director pursuant to the requirements of the Israeli Companies Law.

Magal Security Systems Ltd. Announces the Resignation of Shaul Kobrinsky from Board of Directors

Magal Security Systems Ltd. announced that Mr. Shaul Kobrinsky, a member of the company’s board of directors, has resigned from the Board. Mr. Kobrinsky also served as an external director pursuant to the requirements of the Israeli Companies Law. In that capacity, he served as a member of the company’s audit and compensation committees.

 

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Price/Book 1.5x
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TEV/Sales 0.8x
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