Business
BOS Reports Fourth Quarter and Year-End 2020 Financial Results
Second Consecutive Quarter with Growth in Revenues and Profit RISHON LE ZION, Israel, March 30, 2021 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd.
About this update from B.o.s. Better Online Solutions
[{"type":"text","content":"Second Consecutive Quarter with Growth in Revenues and Profit\nRISHON LE ZION, Israel, March 30, 2021 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd. (\"BOS\" or the \"Company\") (NASDAQ: BOSC), reported its financial results for the fourth quarter and year-end 2020. Fourth-quarter of the year 2020:Revenues grew by 11% to $10.4 million from $9.4 million in the comparable quarter last year. Operating profit amounted to $372,000, compared to an operating loss of $232,000 in the comparable quarter last year. Net income amounted to $248,000, compared to a net loss of $322,000 in the comparable quarter last year. The year 2020:Revenue amounted to $33.6 million compared to $33.8 million in 2019. Operating loss amounted to $651,000 compared to an operating loss of $631,000 in 2019. Net loss amounted to $960,000 compared to a net loss of $913,000 in 2019. Eyal Cohen, BOS' CEO, stated: \"I am pleased with a second consecutive quarter with growth in revenues and net income. Regarding the year 2021, we expect our revenues to exceed $33 million and a net profit of above $1 million.\" BOS will host a conference call on Tuesday, March 30, 2021, 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.boscorporate.com About BOSBOS is a global provider of custom-made robots and an integrator of off-the-shelf automation systems for industrial and logistics processes. BOS also provides supply chain services, mainly for the aerospace and defense industries worldwide. For more information, please visit our websites: Corporate – www.boscom.com | Robotics – www.imdecol.com RFID – www.dimex.co.il | Supply Chain – www.odem.co.il Contact:Eyal Cohen, CEO+972-542525925 | [email protected] Use of Non-GAAP Financial InformationBOS reports financial results in accordance with US GAAP and herein provides some non-GAAP measures. These non-GAAP measures are not in accordance with, nor are they a substitute for, GAAP measures. These non-GAAP measures are intended to supplement the Company's presentation of its financial results that are prepared in accorda...