Valor Computerized Systems Ltd. / Quarter Results
07.08.2006
Ad hoc announcement according to § 15 WpHG transmitted by DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------
Valor´s Q2 Results Show Revenue Growth and Highest Profits since the Year2000;
Annual Profit Forecast Revised Upwards to $3.75 Million.
YAVNE, Israel - August 7th, 2006 - Valor Computerized Systems [PrimeStandard: VCR], the leader in productivity-enhancing solutions for theElectronics Industry, announces today its financial results for thesix-month period ending June 30, 2006.
The net profit in the second quarter of 2006 was $1 Million - a growth ofnearly 150% over the parallel quarter of the previous year. The net profitin the first six months of 2006 was $1.75 Million, an increase of 68%percent as compared to $1 Million in the first six months of 2005.
The company´s cash flow from operating activities in Q2-06 was $1.7Million, nearly 7 times more compared to $241 thousand in Q2-05.
Revenues in the second quarter of 2006 accumulated to $9.2 Million, anincrease of 10% compared to $8.4 Million in the first quarter of 2006, andan increase of 2% compared to $9 Million in the second quarter of 2005.
EBIT in Q2-06 was $856 thousand - an increase of 157% compared to $333thousand in Q2-05. In the first half of 2006, EBIT was $1.4 Million - 68%more than in the parallel period of 2005.
Earnings per Share (diluted) in the first half of 2006 were $0.08, ascompared to $0.05 in the first half of 2005.
Summary of Financial Data:
Q2 / Q2 / % H1 / H1 / % 2006 2005 Change 2006 2005 ChangeProduct Sales 5,745 5,893 (2.5)% 10,897 11,733 (7.1)%Maintenance 3,443 3,110 10.7% 6,673 5,975 11.7%Total Revenues 9,188 9,003 2.1% 17,570 17,708 (0.8)%Gross Profit 8,317 7,670 8.4% 15,583 15,227 2.3%EBITDA 1,165 496 134.7% 1,890 1,166 62.0%EBIT 856 333 156.8% 1,427 851 67.6%Net Profit 1,002 408 145.6% 1,749 1,039 68.3%(Loss)EPS in US$ 0.05 0.02 150.0% 0.08 0.05 60.0%(diluted)Shareholder´s 37,244 34,595 7.7% 37,244 34,595 7.7%EquityTotal Assets 50,457 43,883 15.0% 50,457 43,883 15.0%Research & 3,069 2,825 8.6% 5,372 5,635 (4.6)%DevelopmentEmployees (Period 236 220 7.5% 236 220 7.5%End)
(all figures are in US$ 1000, unless otherwise noted)
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Information and Explaination of the Issuer to this News:
Some of the following statements are forward-looking in nature, and actualresults may differ materially.
"I´m very pleased with the results", said Ofer Shofman, Valor´s Presidentand CEO. "As previously predicted, the successful implementation of arestructuring process enabled us to show an increase in revenues in Q2 aswell as significant increase in net profits".
"We have been able to penetrate several of the world´s largest electronicscompanies with our TraceXpert solution this quarter. We expect these dealsto deliver significant business in the upcoming years and to open the doorsfor us into new markets", he added.
"By the end of the year we are planning to launch a number of newproducts", Shofman revealed. "The first one, to be launched within a fewmonths, will provide a web-based collaboration platform between ourcustomers and their clients. It will increase the overall value of oursolution, thus making it more attractive and allowing us to extend ouropportunities and increase our sales", he explained.
"Overall, we expect to see continued growth in the next quarter - both inrevenues and net profits", said Shofman. "We expect this trend to continuein the upcoming quarters as well, and as a result, we are revising ourannual net profit forecast upwards, from $3 Million to $3.75 Million", heannounced.
The complete quarterly report can be downloaded from the Investor RelationsSection on the Valor corporate website: www.valor.com
About Valor
Valor Computerized Systems develops compelling technologies for simulatingand optimizing the manufacture of printed circuit boards. Valor"sbreakthrough technologies for product design analysis, simulation andoptimization of PCB assembly, and Manufacturing Operations Managementincrease productivity, yield and quality, and help streamline andaccelerate product innovation in a fast-paced global market. Valor islisted on the Prime Standard of the Frankfurt Stock Exchange [WKN 928731,ISIN IL0010845324]. Its customer base includes the majority of Tier I andTier II companies in the electronics industry, most of which are fortune500 companies. More information on Valor can be found on www.valor.com.
Contact Information
Valor Corporate:
Alon Erlich, Valor Computerized Systems, Ltd.;IR@Valor.com; Tel:+972-(0)8-943-2430
IR Contact Germany:
Sönke Knop and Axel Mühlhaus, edicto GmbH;sknop@edicto.de; Tel:+49-(0)-6084-94859-1
Editor Contact:
Cathryn Hage, Anderson Burnbreck PR; cathryn-h@andburn.co.uk; Tel:+44-1242-518399
Risks Regarding Forward Looking Statements
Certain statements included herein, containing forward looking terminologyor the negative thereof or other variations thereof or comparableterminology, constitute ``forward-looking statements"". In addition, allinformation included herein with respect to projected or future results ofoperations, financial condition, financial performance or other financialor statistical matters constitute such forward-looking statements. TheCompany wishes to caution prospective investors not to rely on any suchforward-looking statements as predictions of future events. The Companydoes not undertake, and specifically disclaims any obligation, to updateany forward-looking statements, which speak only as of the date made.
For additional information, see our website at:www.valor.com/Forward_Looking_Statements.jsp
DGAP 07.08.2006 --------------------------------------------------------------------------- Language: EnglishIssuer: Valor Computerized Systems Ltd. 4 Faran Street 70600 Yavne IsraelPhone: -8898Fax: -8897E-mail: IR@valor.comWWW: www.valor.comISIN: IL0010845324WKN: 928731Indices: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Stuttgart, München, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
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