March 16, 2020
Magal Security Systems, Ltd. (NASDAQ: MAGS) today announced its financial results for the three and twelve months ended December 31, 2019. Management will hold an investors’ conference call later today (at 10 a.m. Eastern Time) to discuss the results.
FULL YEAR 2019 RESULTS SUMMARY (all comparison to Full Year 2018)
- Revenue of $86.8 million, compared to $92.6 million, a 6% decline related to Integrated Solutions operations offset by growth in products sales
- Operating income rose 61% to $6 million from $3.8 million
- Net income attributable to Magal’s shareholders declined to $2.3 million from $2.9 million, including non-cash financial expenses of $1.7 million in 2019 comparing to non-cash financial income of $1.4 million in 2018
- EBITDA increased 17% to $8.1 million from $7 million