B.O.S. Better Online Solutions Announces Revenue Growth of 17% in the First Quarter of 2018

B.O.S. Better Online Solutions Ltd (NASDAQ:BOSC), a leading Israeli integrator of RFID and Mobile solutions and a global provider of Supply Chain solutions to enterprises reported its financial results for the fiscal 2018 first quarter ending March 31, 2018.

The company said that it had a 17 percent increase in revenues with the company reporting $8.3 million for the first quarter ending March 31, 2018.

As quoted in the press release:

Net income for the first quarter of 2018 was $205,000, or $0.06 per basic and diluted share, an increase of 39% as compared to a net income of $147,000, or $0.05 per basic and diluted share, in the first quarter of 2017.  EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) was $365,000 for the first quarter of 2018, as compared to $315,000 for the first quarter of 2017. (See Reconciliation of Net Income to EBITDA in the supplemental table included at the end of this release).

As of March 31, 2018,  BOS reported working capital of $7.1 million, long term debt of $2.7 million, and shareholders’ equity of $10.4 million ($3.10 per basic and diluted share).

Yuval Viner, BOS’ Co-CEO stated, “Fiscal 2018 is off to a good start with strong organic revenue growth, increased international sales outside of our core Israeli market and a healthy backlog in place.  There is an expanding need for the solutions we offer, and our primary end markets such as aerospace, defense and logistic centers are growing.   Since January 2018 we’ve announced 5 new orders, and we remain focused on surpassing the expectations of our blue chip customer base, accessing new project awards and continuing to win contracts from new customers.”

Eyal Cohen, BOS’ Co-CEO added, “We saw strong performance from both of our divisions in the first quarter. In particular, we recorded  a 15% revenue increase in our RFID & Mobile division, attributable to new customers and a 20% revenue improvement in our Supply Chain Solutions division, related to new orders from existing customers. In addition to our leadership position in Israel, the BOS brand continues to gain recognition in the international marketplace, particularly India, where we are capturing market share. I am also pleased to announce on engagement with an investor relations firm, Institutional Marketing Services (“IMS”). IMS will collaborate with the BOS management team to achieve broader investor awareness and educate the investment community on the Company’s key business developments and growth objectives.

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