Business
BOS Reports Financial Results for the Fourth Quarter and the Year 2021
RISHON LE ZION, Israel, March 30, 2022 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ: BOSC) reported financial results
About this update from B.o.s. Better Online Solutions
[{"type":"text","content":"RISHON LE ZION, Israel, March 30, 2022 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd. (\"BOS\" or the \"Company\") (NASDAQ: BOSC) reported financial results for the fourth quarter and the year 2021. Eyal Cohen, BOS's CEO, stated: \"We have made positive progress in the year 2021, although revenues were roughly the same as in the year 2020: Gross profit margin improved to 19.6% in the year 2021 from 18.2% in the year 2020;Operating expenses decreased to $6.1 million in the year 2021 from $6.8 million in the year 2020;Financial expenses decreased to $105,000 in the year 2021 from $348,000 in the year 2020. As a result, net income for the year 2021 amounted to $451,000 as compared to a $960,000 net loss in the year 2020.” Eyal Cohen added: “On March 10, 2022, we announced that BOS’ RFID division acquired the assets of Dagesh, which provides inventory counting services in Israel. In addition, on March 28, 2022, we announced that BOS’ Supply Chain division received a $2.4 million order from an existing customer, for delivery this year. This advances us towards our financial targets for the year 2022, which are revenues over $35 million (compared to $33.6 million in the year 2021) and net income to exceed $1 million (compared to a net income of $451,000 in the year 2021.)\" BOS will host a conference call on Wednesday, March 30, 2022, at 9:00 a.m. EDT – 4:00 p.m., Israel Time. A question-and-answer session will follow 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: http://www.boscom.com About BOS BOS provides services and systems for inventory production and management in three channels: Services – The Supply Chain division provides inventory procurement and kitting.Integration – the RFID division provides off-the-shelf software and equipment to track and manage inventory in the production floor and warehouse.Development – the Intelligent Robotics division develops and builds custom-made robotic cells for the industrial and logistic processes. Contact: Eyal Cohen, CEO +972-542525925 | [email protected] Use of Non-GAAP Financial InformationBOS reports financial results in accordance with US GAAP and herein provide...