BOS Reports Second Quarter Financial Results

Better Online Solutions (NASDAQ:BOSC), robotics and logistics company based in Israel announced a 16 percent uptick in revenues over the last quarter, with figures reaching US$8.8 million. Driving this growth was sales in its international supply chain operations, in addition to its robotics segment. Its intelligent robotics operations drew in US$3.3 million for the second quarter, as it completed a robotics acquisition in June.

As quoted in the press release:

Eyal Cohen, BOS’ Co-CEO commented: “Our second quarter represented a period of intense activity for BOS’ management and employees. In June, we completed the acquisition of Imdecol’s business, and welcomed the former Imdecol employees into the BOS family. We have been extremely focused on integrating Imdecol’s operational and financial activities.

“Our mission is to enhance our Robotics operational and international sales platform to realize the tremendous long-term opportunity in the global industrial robotics market. Based on Market Research Engine, this market is expected to grow at a CAGR of 11.5% and exceed $98 billion by 2024.¹“

Yuval Viner, BOS’ Co-CEO added: “We have started to enhance the Robotics operation and strengthen its competitive advantage by improving production efficiency and capacity as well as expanding its technological capabilities and customer service. This involves long-term investments that we expect shall gradually yield consistent and sustained growth in our Robotics international revenues.  Additionally, we have merged the RFID and Robotics sales teams and created an international sales group and a local market (Israel) sales group.”

Click here to read the full press release.