Better Online Solutions Reports Q1 Financial Results

B.O.S. Better Online Solutions (BOS) (NASDAQ:BOSC), a company based in Israel focused on mobile turnkey services announced its first quarter 2019 financial results. For the quarter ending March 31, 2019 BOS reported revenues of US$7.8 million, a year-over-year decline from US$8.3 million in 2018. Gross profit margins improved over the same time period to 21.3 percent from 20 percent.

As quoted in the press release:

Yuval Viner, BOS’ Co-CEO commented, “During the first quarter we announced our acquisition of Imdecol and anticipate that we will close the acquisition this week.  The addition of Imdecol is a transformative development for our Company that brings advanced technology robotic systems that enhance the productivity of production lines. We are excited about these new capabilities that are expected to significantly expand our product offering and broaden our appeal to a larger base of global customers.

Eyal Cohen, Co-CEO and CFO “As we move through 2019 we are focused on:

• Completing Imdecol acquisition and integrating it into BOS,

• Increasing the global exposure of BOS’ enhanced product offering, which would now include robotics systems,

• Improving the gross profit margin of the RFID and Mobile division,

• Expanding the offering of our Supply Chain division, and

• Enhancing the efficiency of our operations.”

Click here to read the full press release.