Notable News Spotlight: Magal Security Systems, Ltd. (NASDAQ:MAGS)

On Monday Magal Security Systems, Ltd. (NASDAQ:MAGS) stock traded volume of 30404 shares during its last trading session as compared to its average volume of 12938 shares over the recent month. MAGS ended its day with the positive stream along the move of 4.11% and closed at the price of $4.31 before opening at $4.18. It has total market capitalization is $99793738. 52 week range of the stock remained $ 3.8 – 5.45 while its day lowest price was $4.01 and its hit its day highest price at $4.31.

On Nov. 18, 2019, Magal Security Systems, Ltd. (NASDAQ:MAGS) declared its financial results for the three and nine months ended September 30, 2019. Management will hold an investors’ conference call later (at 10am Eastern Time) to discuss the results.

THIRD QUARTER 2019 HIGHLIGHTS

  • Revenue of $22.2 million, a 13% improvement versus the prior quarter;
  • Operating income of $2.5 million versus $0.2 million in the prior quarter;
  • Net income of $1.3 million, versus loss last quarter;
  • EBITDA significantly improved to $3.1 million from $0.7 million in the prior quarter;
  • Operating cash flow of $1.8 million contributing to the quarter-end net cash of $54.6 million;

MANAGEMENT COMMENT

Commenting on the results, Mr. Dror Sharon, CEO of Magal, said, The third quarter results demonstrate that the investments and changes in our development and sales teams, are improving our financial results, as evidenced by the improvement in the profitability margins. Additionally, we are pleased to have demonstrated a strong positive cash flow from operations.

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