B.O.S. Better Online Solutions Ltd., a leading Israeli provider of RFID and supply chain solutions to global enterprises, yesterday reported its financial results for the fourth quarter and for the year ended December 31, 2010.
The company reported that its fourth-quarter revenues grew 24 percent to $78 million, up from $6.3 million in the comparable quarter of 2009. Operating income amounted to $264,000, compared to an operating loss of $2 million in the same quarter last year, reflecting the fourth consecutive quarter in 2010 that the company has posted an operating income.
EBITDA was reported at $453,000, compared to a negative EBITDA of $1.7 million in the same quarter last year. Net income was $84,000, compared to a net loss of $2.9 million in the same quarter last year, reflecting the third consecutive quarter in 2010 that B.O.S has posted a net profit. Net income (excluding amortization of intangible assets and stock-based compensation) was reported at $289,000, compared to a net loss of $2.5 million in the same quarter last year.
For full-year 2010, B.O.S. reported that revenues grew by 18 percent to $30.2 million, up from $25.5 million in the same period last year. Operating income amounted to $1.3 million, compared to an operating loss of $4.7 million in the same period last year. EBITDA was $2.1 million, compared to a negative EBITDA of $3.1 million in the same period last year. Net profit amounted to $171,000, compared to a net loss of $6 million in the same period last year.
Yuval Viner, B.O.S. CEO, said the company anticipates continued growth throughout 2011 as it seeks to build relationships in internationally.
“We are pleased to report ongoing growth trends and improved results for our continuing operations, for the fourth consecutive quarter in 2010. We expect a net profit (on a GAAP basis) in 2011. Our outlook for revenues in 2011 is at least $33 million, reflecting a 10 percent growth over 2010 continued operations. We are also forecasting EBITDA to grow by 10 percent or more, to at least $2.3 million, compared to $2.1 million last year. We are in the process of establishing partnerships with systems integrators in Europe, and we expect 2011 to be the first year of international sales of our BOS ID software platform,” Viner stated in the press release.
For more information visit: www.boscom.com