Business
BOS Reports Financial Results for the First Quarter of the Year 2023
RISHON LE ZION, Israel, May 30, 2023 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ: BOSC) reported its financial
About this update from B.o.s. Better Online Solutions
[{"type":"text","content":"RISHON LE ZION, Israel, May 30, 2023 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd. (\"BOS\" or the \"Company\") (NASDAQ: BOSC) reported its financial results for the first quarter of the year 2023. First Quarter 2023 Financial Highlights: Revenues grew by 12% to $12.1 million from $10.8 million in the first quarter of the year 2022;Gross profit margin improved to 21.9% compared to 20.9% in the first quarter of the year 2022;Operating profit for the first quarter of 2023 increased by 94% to $902,000 compared to $465,000 in the first quarter of the year 2022;EBITDA for the first quarter of 2023 increased by 84% to $1,034,000 compared to $562,000 in the first quarter of the year 2022;Financial expenses increased to $246,000 from $151,000 in the first quarter of the year 2022;Net income for the first quarter of 2023 increased by 109% to $656,000 or $0.12 per basic share compared to $314,000 or $0.06 per basic share in the first quarter of the year 2022; Eyal Cohen, BOS' CEO stated: \"We have invested extensive managerial resources in expanding our offerings to include complementary technologies and services. I am pleased to see the positive results yielded by these efforts both in the year 2022 and in the first quarter of 2023.\" Ziv Dekel, BOS’ Chairman, stated: \"BOS' Board of directors and management have been executing an expansion strategy based on organic growth and M&A opportunities. This strategy leverages our core expertise and highly advanced proficiency in technologies for inventory processes.\" BOS will host a conference call on Tuesday, May 30, 2023, at 9:00 a.m. EDT - 4:00 p.m., Israel Time. A question-and-answer session will follow the management's presentation. To access the conference call, please dial one of the following numbers:US: +1-888-281-1167, International: +972-3-9180644. For those unable to listen to the live call, a replay of the call will be available the next day on the BOS website: www.boscom.com About BOS BOS’ technologies enhance inventory processes through three business divisions: The Intelligent Robotics division automates industrial and logistic inventory processes;The RFID division marks and tracks inventory; andThe Supply Chain division manages inventory. For additional information, contact: Eyal Cohen, CEO +972-542525925 | [email protected] Use of Non-GAAP Financial Information BOS repo...