B.O.S Better On-Line Solutions, Ltd (BOSC) - 500 Beiträge pro Seite
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ISIN: IL0010828171 · WKN: 914000 · Symbol: BOSC
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Werte aus der Branche Sonstige Technologie
| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 21,060 | +6,26 | |
| 2,5650 | +5,99 | |
| 51,03 | +5,65 | |
| 1,2100 | +5,22 | |
| 1,4600 | +5,04 |
| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 2,6000 | -10,34 | |
| 16,100 | -12,12 | |
| 1,1245 | -13,48 | |
| 2,4798 | -15,08 | |
| 2,2025 | -18,12 |
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Profile:B.O.S. Better Online Solutions Ltd. (the "Company" or "BOS") (Nasdaq:BOSC - News; TASE:BOSC) was established in 1990. BOS develops and markets innovative products that improve enterprise communications and operations. Its activities are focused on three domains:
Communications products- providing easy to install and affordable VoIP and cellular gateways solutions for businesses. BOS communications products leverage existing infrastructure, radically reduce costs and facilitate operations.
Connectivity products marketed under the BOSaNOVA brand name. These products deliver instant and transparent connectivity from IBM iSeries computers to personal computers, thin clients and browsers.
Software utilities solutions for the design, distribution and management of documents for a range of operating systems, including mainframe, iSeries, Linux, UNIX, and for various enterprise applications -- ERP, CRM, financial and healthcare applications.
In addition BOS supplies electronic and RFID components and technology design services through the ODEM Division, based on Odem Electronic Technologies 1992 Ltd., in which a controlling stake was recently acquired.
http://www.boscorporate.com/
http://www.odem.co.il/
Communications products- providing easy to install and affordable VoIP and cellular gateways solutions for businesses. BOS communications products leverage existing infrastructure, radically reduce costs and facilitate operations.
Connectivity products marketed under the BOSaNOVA brand name. These products deliver instant and transparent connectivity from IBM iSeries computers to personal computers, thin clients and browsers.
Software utilities solutions for the design, distribution and management of documents for a range of operating systems, including mainframe, iSeries, Linux, UNIX, and for various enterprise applications -- ERP, CRM, financial and healthcare applications.
In addition BOS supplies electronic and RFID components and technology design services through the ODEM Division, based on Odem Electronic Technologies 1992 Ltd., in which a controlling stake was recently acquired.
http://www.boscorporate.com/
http://www.odem.co.il/
B.O.S. Better Online Solutions Ltd. Reports Results for the Second Quarter of 2005
Tuesday August 23, 7:00 am ET
Revenues increased 424%
TERADYON, Israel--(BUSINESS WIRE)--Aug. 23, 2005--B.O.S. Better Online Solutions Ltd. (the "Company" or "BOS") (Nasdaq:BOSC - News; TASE:BOSC) reported today its results for the quarter ended June 30, 2005.
Revenues for the second quarter of 2005 were $7.3M, an increase of 424% as compared to $1.4M for the second quarter of 2004. Our revenues increased mainly due to the consolidation of Odem Electronic Technologies 1992 Ltd. ("Odem") (related to the Electronic Component operating segment), acquired in November 2004, and Quasar Telecom (2004) Ltd. (related to the Communication operating segment), which began operating during late September 2004.
Loss from continuing operations for the second quarter of 2005 was $940,000 (or -$0.19 per share) compared to a loss of $447,000 (or -$0.11 per share), for the second quarter of 2004.
Operating loss for the second quarter of 2005 was $431,000, compared to operating loss of $380,000 for the second quarter of 2004.
Gross profit for the second quarter of 2005 increased 194% to $2M, compared to $680,000 for the second quarter of 2004.
In the second quarter of 2005, the Company recorded income from grants from the Office of the Israeli Chief Scientist in the amount of $133,000. During the second quarter of 2005, the Office of the Israeli Chief Scientist confirmed its participation in the financing of the Company`s annual development program of the Communication segment, in the total amount of $350,000.
Financial expenses for the second quarter of 2005 were $161,000, compared to financial expenses of $7,000, for the second quarter of 2004. Financial expenses for the second quarter of 2005 include interest expenses in the amount of $119,000 related to the convertible note, which was issued to Laurus Master Fund in June 2004. In July 2005, Laurus has given notice of conversion of approximately $1.58M of the note principle amount and accrued interest into 540,293 ordinary shares of the Company. Thus, the balance of the note was converted.
Revenues for the six months ended June 30, 2005 amounted to $14.6M, an increase of 464% as compared to $2.6M for the six months ended June 30, 2004. Loss from continuing operations for such period amounted to $1.9M (or -$0.39 per share) compared to net loss of $1M (or -$0.28 per share) for the six months ended June 30, 2004.
As of June 30, 2005, the Company`s balance sheet shows financial resources (cash, cash equivalents and marketable securities) of $6.4M and loans (long and short term) of $4.7M. On June 30, 2005 the Company completed a private placement in the total amount of $2.2 million. $1.45M were received by the Company before June 30, 2005, and an additional $750,000 were received during July 2005.
On July 18, 2005, BOScom, Ltd., the Company`s wholly-owned subsidiary, signed an asset purchase agreement with Consist Technologies Ltd. and Consist International Inc. (collectively, "Consist"), for the sale of its PrintBOS activities in consideration of $500,000 plus a contingent payment in each of the next three years equal to 6-10% of the future revenues exceeding $1M per year, that Consist generates from the PrintBOS activities. The closing of the transaction is subject to approval of the Office of the Israeli Chief Scientist. This agreement is a step in the implementation of BOS` strategy to sell non-core businesses in order to enhance its profitable activities.
Adiv Baruch, BOS` CEO stated: "BOS`s results and activities are improving and we expect a further improvement in the upcoming quarters. We are pleased with Odem`s results and improved margins -- that exceeded our expectations. We consider the conversion of debt into shares, affected by Laurus in July 2005, an act of support and confidence in BOS` future."
Edouard Cukierman, Chairman of BOS commented: "BOS is taking some strategic steps in order to enhance its activities and financial results. We are in the process of selling non-core activities and continue to focus our attention on growing promising divisions. We have full confidence these steps will yield to the benefit of all share holders."
About BOS
B.O.S. Better Online Solutions Ltd. (the "Company" or "BOS") (Nasdaq:BOSC - News; TASE:BOSC) was established in 1990. BOS develops and markets innovative products that improve enterprise communications and operations. Its activities are focused on three domains:
Communications products- providing easy to install and affordable VoIP and cellular gateways solutions for businesses. BOS communications products leverage existing infrastructure, radically reduce costs and facilitate operations.
Connectivity products marketed under the BOSaNOVA brand name. These products deliver instant and transparent connectivity from IBM iSeries computers to personal computers, thin clients and browsers.
Software utilities solutions for the design, distribution and management of documents for a range of operating systems, including mainframe, iSeries, Linux, UNIX, and for various enterprise applications -- ERP, CRM, financial and healthcare applications.
In addition BOS supplies electronic and RFID components and technology design services through the ODEM Division, based on Odem Electronic Technologies 1992 Ltd., in which a controlling stake was recently acquired.
BOS, www.boscorporate.com is traded on NASDAQ (Nasdaq:BOSC - News) and on the Tel-Aviv stock exchange (TASE:BOSC).
The forward-looking statements contained herein reflect management`s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS, including, but not limited to, those risks and uncertainties detailed in BOS` periodic reports and registration statements filed with the U.S. Securities Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
CONSOLIDATED STATEMENTS OF OPERATIONS
U.S. dollars in thousands, except per share data
----------------------------------------------------------------------
Year
Six months ended Three months ended
June 30, ended June 30, Dec. 31,
---------------- --------------- ---------
2005 2004 2005 2004 2004
------- ------ ------ ------- --------
Revenues $14,593 $2,586 $7,321 $1,397 $ 8,282
Cost of revenues 10,598 1,236 5,284 717 4,608
------- ------ ------ ------ --------
Gross profit 3,995 1,350 2,037 680 3,674
------- ------ ------ ------ --------
Operating expenses:
Research and development 1,457 941 721 518 2,296
Less - grants and
participation (133) (211) (133) (211) (492)
Selling and marketing 1,918 637 999 345 1,706
General and
administrative 1,717 815 881 408 1,705
------- ------ ------ ------ --------
Total operating expenses 4,959 2,182 2,468 1,060 5,215
------- ------ ------ ------ --------
Operating loss (964) (832) (431) (380) (1,541)
Financial income
(expenses), net (322) 8 (161) (7) (158)
Other income (expenses),
net 27 - 27 - -
------- ------ ------ ------ --------
Loss before taxes on
income (1,259) (824) (565) (387) (1,699)
Taxes on income (234) (175) (20)
Equity in losses of an
affiliated company (240) (135) (95) (60) (308)
Minority interest in
earning of a subsidiary (150) (105) (17)
------- ------- ------ ------- --------
Loss from continuing
operations (1,883) (959) (940) (447) (2,044)
Loss related to
discontinuing segment - (18) - (18) (9)
------- ------ ------ ------ --------
Net loss $(1,883) $ (977) $ (940) $ (465) $ (2,053)
Basic and diluted net
loss per share from
continuing segment $ (0.39) $(0.28) $(0.19) $(0.11) $ (0.44)
======= ====== ====== ====== ========
Basic and diluted net
earning per share from
discontinuing segment $ - $ - $ - $ - $ -
======= ====== ====== ====== ========
Basic and diluted net
loss per share $ (0.39) $(0.28) $(0.19) $(0.11) $ (0.44)
======= ====== ====== ====== ========
Revenues and gross profit for operating segments for the second
quarter of 2005 and 2004
----------------------------------------------------------------------
Connectivity Communication Electronic Total
Components
--------------- ------------- -------------- ---------------
Three months Three months Three months Three months
ended June 30, ended June 30, ended June 30, ended June 30,
--------------- ------------- -------------- ---------------
2005 2004 2005 2004 2005 2004 2005 2004
------ ------ ----- ----- ------ ----- ------ ------
Revenues $1,055 $1,248 $ 872 $ 149 $5,450 $ - $7,321 $1,397
====== ====== ===== ===== ====== ===== ====== ======
Gross
profit $ 600 $ 669 $ 267 $ 11 $1,170 $ - $2,037 $ 680
====== ====== ===== ===== ====== ===== ====== ======
CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands, except share and per share data
----------------------------------------------------------------------
June 30, December 31,
2005 2004
------------ ------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 4,246 $ 2,578
Marketable securities 1,675 2,324
Trade receivables 5,277 4,557
Other accounts receivable and prepaid
expenses 1,621 722
Inventories 3,511 3,086
----------- -----------
Total current assets 16,330 13,267
----------- -----------
LONG-TERM ASSETS:
Marketable securities 460 757
Severance pay fund 1,096 1,143
Investment in affiliated company 2,232 2,472
Property, plant and equipment, net 985 1,019
Goodwill 1,573 1,569
Customer list, net 1,327 1,389
Other intangible assets, net 426 471
Other assets 342 398
----------- -----------
Total long-term assets 8,441 9,218
$ 24,771 $ 22,485
=========== ===========
June 30, December 31,
2005 2004
------------ ------------
LIABILITIES AND SHAREHOLDERS` EQUITY
CURRENT LIABILITIES:
Short term loans from banks $ 3,162 $ 1,354
Current maturities of long-term bank loans
and convertible note 809 643
Trade payables 3,575 3,845
Employees and payroll accruals 724 664
Deferred revenues 492 364
Accrued expenses and other liabilities 1,395 1,141
----------- -----------
Total current liabilities 10,157 8,011
----------- -----------
LONG-TERM LIABILITIES:
Bank loans (net of current maturities) 28 54
Convertible note (net of current
maturities) 694 1,151
Put option issued to minority shareholders
in a subsidiary 359 359
Deferred taxes 332 348
Accrued severance pay 1,318 1,468
----------- -----------
Total long-term liabilities 2,731 3,380
-----
MINORITY INTEREST IN A SUBSIDIARY 948 809
=========== ===========
LIABILITIES RELATED TO DISCONTINUED
OPERATIONS 237 237
=========== ===========
SHAREHOLDERS` EQUITY 10,698 10,048
=========== ===========
Total liabilities and shareholder`s equity $ 24,771 $ 22,485
----- =========== ===========
--------------------------------------------------------------------------------
Contact:
Gelbart-Kahana Public Relations & Investors Relations
Ms. Shelly Horkin, +972-3-6074717
--------------------------------------------------------------------------------
Source: B.O.S. Better Online Solutions Ltd.
Tuesday August 23, 7:00 am ET
Revenues increased 424%
TERADYON, Israel--(BUSINESS WIRE)--Aug. 23, 2005--B.O.S. Better Online Solutions Ltd. (the "Company" or "BOS") (Nasdaq:BOSC - News; TASE:BOSC) reported today its results for the quarter ended June 30, 2005.
Revenues for the second quarter of 2005 were $7.3M, an increase of 424% as compared to $1.4M for the second quarter of 2004. Our revenues increased mainly due to the consolidation of Odem Electronic Technologies 1992 Ltd. ("Odem") (related to the Electronic Component operating segment), acquired in November 2004, and Quasar Telecom (2004) Ltd. (related to the Communication operating segment), which began operating during late September 2004.
Loss from continuing operations for the second quarter of 2005 was $940,000 (or -$0.19 per share) compared to a loss of $447,000 (or -$0.11 per share), for the second quarter of 2004.
Operating loss for the second quarter of 2005 was $431,000, compared to operating loss of $380,000 for the second quarter of 2004.
Gross profit for the second quarter of 2005 increased 194% to $2M, compared to $680,000 for the second quarter of 2004.
In the second quarter of 2005, the Company recorded income from grants from the Office of the Israeli Chief Scientist in the amount of $133,000. During the second quarter of 2005, the Office of the Israeli Chief Scientist confirmed its participation in the financing of the Company`s annual development program of the Communication segment, in the total amount of $350,000.
Financial expenses for the second quarter of 2005 were $161,000, compared to financial expenses of $7,000, for the second quarter of 2004. Financial expenses for the second quarter of 2005 include interest expenses in the amount of $119,000 related to the convertible note, which was issued to Laurus Master Fund in June 2004. In July 2005, Laurus has given notice of conversion of approximately $1.58M of the note principle amount and accrued interest into 540,293 ordinary shares of the Company. Thus, the balance of the note was converted.
Revenues for the six months ended June 30, 2005 amounted to $14.6M, an increase of 464% as compared to $2.6M for the six months ended June 30, 2004. Loss from continuing operations for such period amounted to $1.9M (or -$0.39 per share) compared to net loss of $1M (or -$0.28 per share) for the six months ended June 30, 2004.
As of June 30, 2005, the Company`s balance sheet shows financial resources (cash, cash equivalents and marketable securities) of $6.4M and loans (long and short term) of $4.7M. On June 30, 2005 the Company completed a private placement in the total amount of $2.2 million. $1.45M were received by the Company before June 30, 2005, and an additional $750,000 were received during July 2005.
On July 18, 2005, BOScom, Ltd., the Company`s wholly-owned subsidiary, signed an asset purchase agreement with Consist Technologies Ltd. and Consist International Inc. (collectively, "Consist"), for the sale of its PrintBOS activities in consideration of $500,000 plus a contingent payment in each of the next three years equal to 6-10% of the future revenues exceeding $1M per year, that Consist generates from the PrintBOS activities. The closing of the transaction is subject to approval of the Office of the Israeli Chief Scientist. This agreement is a step in the implementation of BOS` strategy to sell non-core businesses in order to enhance its profitable activities.
Adiv Baruch, BOS` CEO stated: "BOS`s results and activities are improving and we expect a further improvement in the upcoming quarters. We are pleased with Odem`s results and improved margins -- that exceeded our expectations. We consider the conversion of debt into shares, affected by Laurus in July 2005, an act of support and confidence in BOS` future."
Edouard Cukierman, Chairman of BOS commented: "BOS is taking some strategic steps in order to enhance its activities and financial results. We are in the process of selling non-core activities and continue to focus our attention on growing promising divisions. We have full confidence these steps will yield to the benefit of all share holders."
About BOS
B.O.S. Better Online Solutions Ltd. (the "Company" or "BOS") (Nasdaq:BOSC - News; TASE:BOSC) was established in 1990. BOS develops and markets innovative products that improve enterprise communications and operations. Its activities are focused on three domains:
Communications products- providing easy to install and affordable VoIP and cellular gateways solutions for businesses. BOS communications products leverage existing infrastructure, radically reduce costs and facilitate operations.
Connectivity products marketed under the BOSaNOVA brand name. These products deliver instant and transparent connectivity from IBM iSeries computers to personal computers, thin clients and browsers.
Software utilities solutions for the design, distribution and management of documents for a range of operating systems, including mainframe, iSeries, Linux, UNIX, and for various enterprise applications -- ERP, CRM, financial and healthcare applications.
In addition BOS supplies electronic and RFID components and technology design services through the ODEM Division, based on Odem Electronic Technologies 1992 Ltd., in which a controlling stake was recently acquired.
BOS, www.boscorporate.com is traded on NASDAQ (Nasdaq:BOSC - News) and on the Tel-Aviv stock exchange (TASE:BOSC).
The forward-looking statements contained herein reflect management`s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS, including, but not limited to, those risks and uncertainties detailed in BOS` periodic reports and registration statements filed with the U.S. Securities Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
CONSOLIDATED STATEMENTS OF OPERATIONS
U.S. dollars in thousands, except per share data
----------------------------------------------------------------------
Year
Six months ended Three months ended
June 30, ended June 30, Dec. 31,
---------------- --------------- ---------
2005 2004 2005 2004 2004
------- ------ ------ ------- --------
Revenues $14,593 $2,586 $7,321 $1,397 $ 8,282
Cost of revenues 10,598 1,236 5,284 717 4,608
------- ------ ------ ------ --------
Gross profit 3,995 1,350 2,037 680 3,674
------- ------ ------ ------ --------
Operating expenses:
Research and development 1,457 941 721 518 2,296
Less - grants and
participation (133) (211) (133) (211) (492)
Selling and marketing 1,918 637 999 345 1,706
General and
administrative 1,717 815 881 408 1,705
------- ------ ------ ------ --------
Total operating expenses 4,959 2,182 2,468 1,060 5,215
------- ------ ------ ------ --------
Operating loss (964) (832) (431) (380) (1,541)
Financial income
(expenses), net (322) 8 (161) (7) (158)
Other income (expenses),
net 27 - 27 - -
------- ------ ------ ------ --------
Loss before taxes on
income (1,259) (824) (565) (387) (1,699)
Taxes on income (234) (175) (20)
Equity in losses of an
affiliated company (240) (135) (95) (60) (308)
Minority interest in
earning of a subsidiary (150) (105) (17)
------- ------- ------ ------- --------
Loss from continuing
operations (1,883) (959) (940) (447) (2,044)
Loss related to
discontinuing segment - (18) - (18) (9)
------- ------ ------ ------ --------
Net loss $(1,883) $ (977) $ (940) $ (465) $ (2,053)
Basic and diluted net
loss per share from
continuing segment $ (0.39) $(0.28) $(0.19) $(0.11) $ (0.44)
======= ====== ====== ====== ========
Basic and diluted net
earning per share from
discontinuing segment $ - $ - $ - $ - $ -
======= ====== ====== ====== ========
Basic and diluted net
loss per share $ (0.39) $(0.28) $(0.19) $(0.11) $ (0.44)
======= ====== ====== ====== ========
Revenues and gross profit for operating segments for the second
quarter of 2005 and 2004
----------------------------------------------------------------------
Connectivity Communication Electronic Total
Components
--------------- ------------- -------------- ---------------
Three months Three months Three months Three months
ended June 30, ended June 30, ended June 30, ended June 30,
--------------- ------------- -------------- ---------------
2005 2004 2005 2004 2005 2004 2005 2004
------ ------ ----- ----- ------ ----- ------ ------
Revenues $1,055 $1,248 $ 872 $ 149 $5,450 $ - $7,321 $1,397
====== ====== ===== ===== ====== ===== ====== ======
Gross
profit $ 600 $ 669 $ 267 $ 11 $1,170 $ - $2,037 $ 680
====== ====== ===== ===== ====== ===== ====== ======
CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands, except share and per share data
----------------------------------------------------------------------
June 30, December 31,
2005 2004
------------ ------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 4,246 $ 2,578
Marketable securities 1,675 2,324
Trade receivables 5,277 4,557
Other accounts receivable and prepaid
expenses 1,621 722
Inventories 3,511 3,086
----------- -----------
Total current assets 16,330 13,267
----------- -----------
LONG-TERM ASSETS:
Marketable securities 460 757
Severance pay fund 1,096 1,143
Investment in affiliated company 2,232 2,472
Property, plant and equipment, net 985 1,019
Goodwill 1,573 1,569
Customer list, net 1,327 1,389
Other intangible assets, net 426 471
Other assets 342 398
----------- -----------
Total long-term assets 8,441 9,218
$ 24,771 $ 22,485
=========== ===========
June 30, December 31,
2005 2004
------------ ------------
LIABILITIES AND SHAREHOLDERS` EQUITY
CURRENT LIABILITIES:
Short term loans from banks $ 3,162 $ 1,354
Current maturities of long-term bank loans
and convertible note 809 643
Trade payables 3,575 3,845
Employees and payroll accruals 724 664
Deferred revenues 492 364
Accrued expenses and other liabilities 1,395 1,141
----------- -----------
Total current liabilities 10,157 8,011
----------- -----------
LONG-TERM LIABILITIES:
Bank loans (net of current maturities) 28 54
Convertible note (net of current
maturities) 694 1,151
Put option issued to minority shareholders
in a subsidiary 359 359
Deferred taxes 332 348
Accrued severance pay 1,318 1,468
----------- -----------
Total long-term liabilities 2,731 3,380
-----
MINORITY INTEREST IN A SUBSIDIARY 948 809
=========== ===========
LIABILITIES RELATED TO DISCONTINUED
OPERATIONS 237 237
=========== ===========
SHAREHOLDERS` EQUITY 10,698 10,048
=========== ===========
Total liabilities and shareholder`s equity $ 24,771 $ 22,485
----- =========== ===========
--------------------------------------------------------------------------------
Contact:
Gelbart-Kahana Public Relations & Investors Relations
Ms. Shelly Horkin, +972-3-6074717
--------------------------------------------------------------------------------
Source: B.O.S. Better Online Solutions Ltd.
B.O.S. Better Online Solutions Ltd. Reports Results for the Third Quarter of 2005
Tuesday November 29, 2:39 am ET
TERADYON, Israel--(BUSINESS WIRE)--Nov. 29, 2005--B.O.S. Better Online Solutions Ltd. (the "Company" or "BOS") (NASDAQ: BOSC - News); (TASE: BOSC) reported today its results for the quarter ended September 30, 2005.
ADVERTISEMENT
Highlights for the 3rd quarter:
Revenues for the third quarter of 2005 were $6.2M, an increase of 326% as compared to $1.5M for the third quarter of 2004. Our revenues increased mainly due to the consolidation of Odem Electronic Technologies 1992 Ltd. ("Odem") (related to the Electronic Component operating segment), acquired in November 2004, and Quasar Telecom (2004) Ltd. (related to the Communications operating segment), which began operating on October 1, 2004.
Gross profit for the third quarter of 2005 increased 137% to $1.8M, compared to $766,000 for the third quarter of 2004.
Operating loss for the third quarter of 2005 was $356,000, compared to an operating loss of $431,000 for the second quarter of 2005, and an operating loss of $326,000 for the third quarter of 2004.
Loss from continuing operations for the third quarter of 2005, including an equity loss of $1.5M (mainly related to the impairment of an investment in Surf Communication Solutions Ltd. ("Surf"), an affiliated company(, and other income in the amount of $273,000 (related to the Company`s sale of its PrintBOS activities), was $1.7M (or -$0.28 per share) compared to a loss of $466,000 (or -$0.11 per share), for the third quarter of 2004.
Highlights for the 9 months:
Revenues for the nine months ended September 30, 2005, amounted to $20.8 M, an increase of 414% as compared to $4M for the nine months ended September 30, 2004. Loss from continuing operations for such period amounted to $3.6M (or -$0.69 per share) compared to a net loss of $1.4M (or -$0.34 per share) for the nine months ended September 30, 2004. The loss from continuing operations for the nine months ended September 30, 2005, includes equity losses in the amount of $1.5M (mainly related to the impairment of an investment in Surf(, and other income in the amount of $273,000 (related to the Company`s sale of its PrintBOS activities).
As of September 30, 2005, the Company`s balance sheet shows financial resources (cash, cash equivalents and marketable securities) of $6.6M and loans (long and short term) of $3.9M.
In September 2005, BOS acquired an additional 23.9% of the outstanding shares of Odem, a subsidiary of the Company, from a minority shareholder, thus increasing its holdings in Odem from 63.6% in December 31, 2004, to 87.7% in September 30, 2005. In consideration for Odem`s shares, the Company issued 232,603 Ordinary Shares and made a cash payment in the amount of $716,000. On November 1, 2005, BOS announced its acquisition of the remaining shares of Odem in consideration for a cash payment in the amount of $554,105 and Odem became a wholly-owned subsidiary of the Company.
On October 27, 2005, BOS entered into a definitive agreement with Qualmax Inc., a US VoIP service and equipment provider, for the sale of the assets of its Communications Division to Qualmax. The consideration payable to BOS is approximately 4,150,000 Qualmax shares and 4% royalties from future revenues Qualmax generates from the sold business, up to $800,000. One quarter of the Qualmax shares to be received by BOS in the transaction, shall be deposited in escrow and shall be released to BOS at the end of four consecutive fiscal quarters following the closing of the transaction, contingent upon Qualmax generating by then certain revenues from the sold business. The closing of the transaction is subject to certain closing conditions, including Qualmax completing a merger into a US publicly traded company.
Adiv Baruch, BOS` CEO stated: "We are continuing to implement our strategy as was defined in 2004. We have increased our holdings in Odem and turned it into our wholly owned subsidiary, while in parallel, we are spinning off and realizing non-core activities."
Edouard Cukierman, Chairman of BOS commented: "Since it was acquired, Odem has become one of the main growth engines of the Company, reflecting the increased demand for RFID products."
About BOS
B.O.S. Better Online Solutions Ltd. (the "Company" or "BOS") (NASDAQ:BOSC; TASE: BOSC) was established in 1990. Through its wholly owned subsidiaries, BOS activities are focused on two divisions:
Connectivity division, with products marketed under the BOSaNOVA brand name. These products deliver instant and transparent connectivity from IBM iSeries computers to personal computers, thin clients and browsers.
Electronic Components division, based on Odem Electronic Technologies 1992 Ltd., providing solutions in RFID, semiconductors, electronic components, CCD, imaging, networking, telecom and automation.
An additional focus has been on the Communications division, providing easy to install and affordable VoIP and cellular gateways solutions for businesses. The Company entered into a definitive agreement for the sale of the Communications Division`s assets in October 2005.
BOS, www.boscorporate.com is traded on NASDAQ (NASDAQ: BOSC - News) and on the Tel-Aviv stock exchange (TASE: BOSC).
The forward-looking statements contained herein reflect management`s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS, including, but not limited to, those risks and uncertainties detailed in BOS` periodic reports and registration statements filed with the U.S. Securities Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
BALANCE SHEETS
----------------------------------------------------------------------
U.S. dollars in thousands
September December
30, 31,
2005 2004
--------- --------
Unaudited
---------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $4,464 $2,578
Short-term marketable securities 1,093 2,324
Trade receivables 5,405 4,557
Other accounts receivable and prepaid expenses 1,080 722
Inventories 4,514 3,086
--------- --------
Total current assets 16,556 13,267
--------- --------
LONG-TERM INVESTMENTS:
Long-term marketable securities 1,053 757
Severance pay funds 1,119 1,143
Investment in an affiliated company 752 2,472
Other assets - 395
--------- --------
Total long-term investments 2,924 4,767
--------- --------
PROPERTY AND EQUIPMENT, NET 971 1,019
--------- --------
INTANGIBLE ASSETS:
Goodwill 1,717 1,569
Customer list 1,800 1,389
Other intangible assets 403 471
--------- --------
Total intangible assets 3,920 3,429
--------- --------
ASSETS RELATED TO DISCONTINUED SEGMENT - 3
--------- --------
Total assets $24,371 $22,485
========= ========
BALANCE SHEETS
----------------------------------------------------------------------
U.S. dollars in thousands
September December
30, 31,
2005 2004
---------- --------
Unaudited
----------
LIABILITIES AND SHAREHOLDERS` EQUITY
CURRENT LIABILITIES:
Short term loans from banks $2,624 $1,354
Current maturities of long-term convertible note
and bank loans 217 643
Trade payables 3,905 3,845
Employees and payroll accruals 788 664
Deferred revenues 371 364
Accrued expenses and other liabilities 1,854 1,141
---------- --------
Total current liabilities 9,759 8,011
---------- --------
LONG-TERM LIABILITIES:
Long-term convertible note 1,064 1,151
Bank loans (net of current maturities) 21 54
Deferred taxes 397 348
Put option issued to minority shareholders in a
subsidiary 42 359
Accrued severance pay 1,350 1,468
---------- --------
Total long-term liabilities 2,874 3,380
---------- --------
MINORITY INTEREST IN A SUBSIDIARY 346 809
---------- --------
LIABILITIES RELATED TO DISCONTINUED SEGMENT 237 237
---------- --------
SHAREHOLDERS` EQUITY 11,155 10,048
---------- --------
Total liabilities and shareholders` equity $24,371 $22,485
========== ========
CONSOLIDATED STATEMENTS OF OPERATIONS
----------------------------------------------------------------------
U.S. dollars in thousands, except share and per share data
Year ended
Nine months ended Three months ended December
September 30, September 30, 31,
----------------------------------------
2004 2005 2004 2005 2004
--------------------------------------------------
Unaudited
----------------------------------------
Revenues $4,043 $20,801 $1,457 $6,208 $8,282
Cost of revenues 1,927 14,984 691 4,386 4,608
--------------------------------------------------
Gross profit 2,116 5,817 766 1,822 3,674
--------------------------------------------------
Operating expenses:
Research and
development 1,559 2,084 618 627 2,296
Less - grants
and
participation (370) (217) (159) (84) (492)
Selling and
marketing 933 2,715 296 797 1,706
General and
administrative 1,152 2,555 337 838 1,705
--------------------------------------------------
Total operating
expenses 3,274 7,137 1,092 2,178 5,215
--------------------------------------------------
Operating loss (1,158) (1,320) (326) (356) (1,541)
Financial expenses,
net (51) (360) (59) (38) (158)
Other income - 300 - 273 -
--------------------------------------------------
Loss before taxes on
income and equity
in losses of an
affiliated company (1,209) (1,380) (385) (121) (1,699)
Taxes on income - (297) - (63) (20)
Equity in losses of
an affiliated
company (215) (1,720) (81) (1,480) (308)
Minority interest in
earnings of a
subsidiary - (230) - (80) (17)
--------------------------------------------------
Net loss from
continuing
operations (1,424) (3,627) (466) (1,744) (2,044)
Net loss related to
discontinued
operations (18) - - - (9)
--------------------------------------------------
Net loss $(1,442) $(3,627) $(466) $(1,744) $(2,053)
==================================================
Basic and diluted
net loss per share
from continuing
operations $(0.34) $(0.69) $(0.11) $(0.28) $(0.44)
==================================================
Basic and diluted
net loss per share
from discontinued
operations $(0.01) $- $- $- $(0.00)
==================================================
Basic and diluted
net loss of NIS
4.00 par value per
share $(0.35) $(0.69) $(0.11) $(0.28) $(0.44)
==================================================
Weighted average
number of shares
used in computing
basic and diluted
net loss per share 4,163,166 5,287,886 4,165,224 6,261,105 4,631,106
==================================================
U.S. dollars in thousands
SEGMENTS AND GEOGRAPHIC INFORMATION
Revenues, gross profit and operating profit (loss) for operating
segments for the nine and three month ending September 2005 and for
the year ended 2004 were as follow:
Nine month ended September 30, 2005
-------------------------------------------------------------
Adjustment
Electronics and Consolidated
Connectivity Communication components eliminations
-------------------------------------------------------------
Revenues $3,306 $2,274 $15,301 $(80) $20,801
=============================================================
Gross
profit $1,946 $575 $3,296 $- $5,817
=============================================================
Operating
profit
(loss) $97 $(1,855) $1,023 $(583) $(1,320)
=============================================================
Three month ended September 30, 2005
-------------------------------------------------------------
Adjustment
Electronics and Consolidated
Connectivity Communication components eliminations
-------------------------------------------------------------
Revenues $745 $486 $5,002 $(25) $6,208
=============================================================
Gross
profit $491 $44 $1,287 $- $1,822
=============================================================
Operating
profit
(loss) $24 $(709) $318 $11 $(356)
=============================================================
Year ended December 31, 2004
-------------------------------------------------------------
Adjustment
Electronics and Consolidated
Connectivity Communication components eliminations
-------------------------------------------------------------
Revenues $5,011 $1,363 $1,908 $- $8,282
=============================================================
Gross
profit $2,933 $414 $327 $- $3,674
=============================================================
Operating
profit
(loss) $1,009 $(1,846) $66 $(770) $(1,541)
=============================================================
Contact:
Gelbart-Kahana Public Relations & Investors Relations
Mr. Emanuel Kahana, +972-3-6074717
info@gk-biz.com
--------------------------------------------------------------------------------
Source: Better Online Solutions Ltd.
Tuesday November 29, 2:39 am ET
TERADYON, Israel--(BUSINESS WIRE)--Nov. 29, 2005--B.O.S. Better Online Solutions Ltd. (the "Company" or "BOS") (NASDAQ: BOSC - News); (TASE: BOSC) reported today its results for the quarter ended September 30, 2005.
ADVERTISEMENT
Highlights for the 3rd quarter:
Revenues for the third quarter of 2005 were $6.2M, an increase of 326% as compared to $1.5M for the third quarter of 2004. Our revenues increased mainly due to the consolidation of Odem Electronic Technologies 1992 Ltd. ("Odem") (related to the Electronic Component operating segment), acquired in November 2004, and Quasar Telecom (2004) Ltd. (related to the Communications operating segment), which began operating on October 1, 2004.
Gross profit for the third quarter of 2005 increased 137% to $1.8M, compared to $766,000 for the third quarter of 2004.
Operating loss for the third quarter of 2005 was $356,000, compared to an operating loss of $431,000 for the second quarter of 2005, and an operating loss of $326,000 for the third quarter of 2004.
Loss from continuing operations for the third quarter of 2005, including an equity loss of $1.5M (mainly related to the impairment of an investment in Surf Communication Solutions Ltd. ("Surf"), an affiliated company(, and other income in the amount of $273,000 (related to the Company`s sale of its PrintBOS activities), was $1.7M (or -$0.28 per share) compared to a loss of $466,000 (or -$0.11 per share), for the third quarter of 2004.
Highlights for the 9 months:
Revenues for the nine months ended September 30, 2005, amounted to $20.8 M, an increase of 414% as compared to $4M for the nine months ended September 30, 2004. Loss from continuing operations for such period amounted to $3.6M (or -$0.69 per share) compared to a net loss of $1.4M (or -$0.34 per share) for the nine months ended September 30, 2004. The loss from continuing operations for the nine months ended September 30, 2005, includes equity losses in the amount of $1.5M (mainly related to the impairment of an investment in Surf(, and other income in the amount of $273,000 (related to the Company`s sale of its PrintBOS activities).
As of September 30, 2005, the Company`s balance sheet shows financial resources (cash, cash equivalents and marketable securities) of $6.6M and loans (long and short term) of $3.9M.
In September 2005, BOS acquired an additional 23.9% of the outstanding shares of Odem, a subsidiary of the Company, from a minority shareholder, thus increasing its holdings in Odem from 63.6% in December 31, 2004, to 87.7% in September 30, 2005. In consideration for Odem`s shares, the Company issued 232,603 Ordinary Shares and made a cash payment in the amount of $716,000. On November 1, 2005, BOS announced its acquisition of the remaining shares of Odem in consideration for a cash payment in the amount of $554,105 and Odem became a wholly-owned subsidiary of the Company.
On October 27, 2005, BOS entered into a definitive agreement with Qualmax Inc., a US VoIP service and equipment provider, for the sale of the assets of its Communications Division to Qualmax. The consideration payable to BOS is approximately 4,150,000 Qualmax shares and 4% royalties from future revenues Qualmax generates from the sold business, up to $800,000. One quarter of the Qualmax shares to be received by BOS in the transaction, shall be deposited in escrow and shall be released to BOS at the end of four consecutive fiscal quarters following the closing of the transaction, contingent upon Qualmax generating by then certain revenues from the sold business. The closing of the transaction is subject to certain closing conditions, including Qualmax completing a merger into a US publicly traded company.
Adiv Baruch, BOS` CEO stated: "We are continuing to implement our strategy as was defined in 2004. We have increased our holdings in Odem and turned it into our wholly owned subsidiary, while in parallel, we are spinning off and realizing non-core activities."
Edouard Cukierman, Chairman of BOS commented: "Since it was acquired, Odem has become one of the main growth engines of the Company, reflecting the increased demand for RFID products."
About BOS
B.O.S. Better Online Solutions Ltd. (the "Company" or "BOS") (NASDAQ:BOSC; TASE: BOSC) was established in 1990. Through its wholly owned subsidiaries, BOS activities are focused on two divisions:
Connectivity division, with products marketed under the BOSaNOVA brand name. These products deliver instant and transparent connectivity from IBM iSeries computers to personal computers, thin clients and browsers.
Electronic Components division, based on Odem Electronic Technologies 1992 Ltd., providing solutions in RFID, semiconductors, electronic components, CCD, imaging, networking, telecom and automation.
An additional focus has been on the Communications division, providing easy to install and affordable VoIP and cellular gateways solutions for businesses. The Company entered into a definitive agreement for the sale of the Communications Division`s assets in October 2005.
BOS, www.boscorporate.com is traded on NASDAQ (NASDAQ: BOSC - News) and on the Tel-Aviv stock exchange (TASE: BOSC).
The forward-looking statements contained herein reflect management`s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS, including, but not limited to, those risks and uncertainties detailed in BOS` periodic reports and registration statements filed with the U.S. Securities Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
BALANCE SHEETS
----------------------------------------------------------------------
U.S. dollars in thousands
September December
30, 31,
2005 2004
--------- --------
Unaudited
---------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $4,464 $2,578
Short-term marketable securities 1,093 2,324
Trade receivables 5,405 4,557
Other accounts receivable and prepaid expenses 1,080 722
Inventories 4,514 3,086
--------- --------
Total current assets 16,556 13,267
--------- --------
LONG-TERM INVESTMENTS:
Long-term marketable securities 1,053 757
Severance pay funds 1,119 1,143
Investment in an affiliated company 752 2,472
Other assets - 395
--------- --------
Total long-term investments 2,924 4,767
--------- --------
PROPERTY AND EQUIPMENT, NET 971 1,019
--------- --------
INTANGIBLE ASSETS:
Goodwill 1,717 1,569
Customer list 1,800 1,389
Other intangible assets 403 471
--------- --------
Total intangible assets 3,920 3,429
--------- --------
ASSETS RELATED TO DISCONTINUED SEGMENT - 3
--------- --------
Total assets $24,371 $22,485
========= ========
BALANCE SHEETS
----------------------------------------------------------------------
U.S. dollars in thousands
September December
30, 31,
2005 2004
---------- --------
Unaudited
----------
LIABILITIES AND SHAREHOLDERS` EQUITY
CURRENT LIABILITIES:
Short term loans from banks $2,624 $1,354
Current maturities of long-term convertible note
and bank loans 217 643
Trade payables 3,905 3,845
Employees and payroll accruals 788 664
Deferred revenues 371 364
Accrued expenses and other liabilities 1,854 1,141
---------- --------
Total current liabilities 9,759 8,011
---------- --------
LONG-TERM LIABILITIES:
Long-term convertible note 1,064 1,151
Bank loans (net of current maturities) 21 54
Deferred taxes 397 348
Put option issued to minority shareholders in a
subsidiary 42 359
Accrued severance pay 1,350 1,468
---------- --------
Total long-term liabilities 2,874 3,380
---------- --------
MINORITY INTEREST IN A SUBSIDIARY 346 809
---------- --------
LIABILITIES RELATED TO DISCONTINUED SEGMENT 237 237
---------- --------
SHAREHOLDERS` EQUITY 11,155 10,048
---------- --------
Total liabilities and shareholders` equity $24,371 $22,485
========== ========
CONSOLIDATED STATEMENTS OF OPERATIONS
----------------------------------------------------------------------
U.S. dollars in thousands, except share and per share data
Year ended
Nine months ended Three months ended December
September 30, September 30, 31,
----------------------------------------
2004 2005 2004 2005 2004
--------------------------------------------------
Unaudited
----------------------------------------
Revenues $4,043 $20,801 $1,457 $6,208 $8,282
Cost of revenues 1,927 14,984 691 4,386 4,608
--------------------------------------------------
Gross profit 2,116 5,817 766 1,822 3,674
--------------------------------------------------
Operating expenses:
Research and
development 1,559 2,084 618 627 2,296
Less - grants
and
participation (370) (217) (159) (84) (492)
Selling and
marketing 933 2,715 296 797 1,706
General and
administrative 1,152 2,555 337 838 1,705
--------------------------------------------------
Total operating
expenses 3,274 7,137 1,092 2,178 5,215
--------------------------------------------------
Operating loss (1,158) (1,320) (326) (356) (1,541)
Financial expenses,
net (51) (360) (59) (38) (158)
Other income - 300 - 273 -
--------------------------------------------------
Loss before taxes on
income and equity
in losses of an
affiliated company (1,209) (1,380) (385) (121) (1,699)
Taxes on income - (297) - (63) (20)
Equity in losses of
an affiliated
company (215) (1,720) (81) (1,480) (308)
Minority interest in
earnings of a
subsidiary - (230) - (80) (17)
--------------------------------------------------
Net loss from
continuing
operations (1,424) (3,627) (466) (1,744) (2,044)
Net loss related to
discontinued
operations (18) - - - (9)
--------------------------------------------------
Net loss $(1,442) $(3,627) $(466) $(1,744) $(2,053)
==================================================
Basic and diluted
net loss per share
from continuing
operations $(0.34) $(0.69) $(0.11) $(0.28) $(0.44)
==================================================
Basic and diluted
net loss per share
from discontinued
operations $(0.01) $- $- $- $(0.00)
==================================================
Basic and diluted
net loss of NIS
4.00 par value per
share $(0.35) $(0.69) $(0.11) $(0.28) $(0.44)
==================================================
Weighted average
number of shares
used in computing
basic and diluted
net loss per share 4,163,166 5,287,886 4,165,224 6,261,105 4,631,106
==================================================
U.S. dollars in thousands
SEGMENTS AND GEOGRAPHIC INFORMATION
Revenues, gross profit and operating profit (loss) for operating
segments for the nine and three month ending September 2005 and for
the year ended 2004 were as follow:
Nine month ended September 30, 2005
-------------------------------------------------------------
Adjustment
Electronics and Consolidated
Connectivity Communication components eliminations
-------------------------------------------------------------
Revenues $3,306 $2,274 $15,301 $(80) $20,801
=============================================================
Gross
profit $1,946 $575 $3,296 $- $5,817
=============================================================
Operating
profit
(loss) $97 $(1,855) $1,023 $(583) $(1,320)
=============================================================
Three month ended September 30, 2005
-------------------------------------------------------------
Adjustment
Electronics and Consolidated
Connectivity Communication components eliminations
-------------------------------------------------------------
Revenues $745 $486 $5,002 $(25) $6,208
=============================================================
Gross
profit $491 $44 $1,287 $- $1,822
=============================================================
Operating
profit
(loss) $24 $(709) $318 $11 $(356)
=============================================================
Year ended December 31, 2004
-------------------------------------------------------------
Adjustment
Electronics and Consolidated
Connectivity Communication components eliminations
-------------------------------------------------------------
Revenues $5,011 $1,363 $1,908 $- $8,282
=============================================================
Gross
profit $2,933 $414 $327 $- $3,674
=============================================================
Operating
profit
(loss) $1,009 $(1,846) $66 $(770) $(1,541)
=============================================================
Contact:
Gelbart-Kahana Public Relations & Investors Relations
Mr. Emanuel Kahana, +972-3-6074717
info@gk-biz.com
--------------------------------------------------------------------------------
Source: Better Online Solutions Ltd.
http://finance.yahoo.com/q?s=BNGP.PK
QUALMAX NOW BENCH GROUP.
BOSC OWNS 4 MM SHARES VALUED AT $11 MM ABOUT BOSC CURRENT MARKET CAP!!
ALSO BOSC HAS $6 MM CASH.
BOSC BUSINESS ASSETS BEING VALUED AT ZERO.
LUDICROUS.
QUALMAX NOW BENCH GROUP.
BOSC OWNS 4 MM SHARES VALUED AT $11 MM ABOUT BOSC CURRENT MARKET CAP!!
ALSO BOSC HAS $6 MM CASH.
BOSC BUSINESS ASSETS BEING VALUED AT ZERO.
LUDICROUS.
Trading Spotlight
Odem Technologies Ltd. a Member of the BOS group Expanded Its Long Term Supply Agreement with the Israel Aircraft Industry (IAI) by Approximately $2M
Tuesday December 13, 8:10 am ET
RISHON LEZION, Israel--(BUSINESS WIRE)--Dec. 13, 2005--Odem Electronic Technologies 1992 Ltd. ("Odem"), a wholly owned subsidiary of B.O.S. Better Online Solutions Ltd. ("BOS") (Nasdaq:BOSC - News; TASE:BOSC) announced today that it has expanded its long term agreement to supply a variety of electronics and electromechanical components to the Israel Aircraft Industry`s production plant, by an estimated sum of approximately $2M. The expanded agreement for the supply of electromechanical parts to business jets over the next five years, is now estimated at approximately $5M.
ADVERTISEMENT
Odem`s general manager Mr. Avidan Zelicovsky stated that this expanded agreement is indicative of the ongoing trend Odem is experiencing with key clients expanding and increasing their business cooperation with Odem.
With respect to Odem`s activities, Mr. Zelicovsky continued, "We are investing heavily to expand our activity in the US market as well as developing Odem`s capability in the Radio Frequency Identification (RFID) field. Odem, which in the past completed several RFID projects including the Maccabiah games, is currently involved in several new projects which when matured will present significant opportunities for the company in this new booming technology."
About BOS
B.O.S. Better Online Solutions Ltd. (the "Company" or "BOS") (Nasdaq:BOSC - News; TASE:BOSC) was established in 1990. Through its wholly owned subsidiaries, BOS activities are focused on two divisions:
Connectivity division, with products marketed under the BOSaNOVA brand name. These products deliver instant and transparent connectivity from IBM iSeries computers to personal computers, thin clients and browsers.
Electronic Components division, based on Odem Electronic Technologies 1992 Ltd., providing solutions in RFID, semiconductors, electronic components, CCD, imaging, networking, telecom and automation
An additional focus has been on the Communications division, providing easy to install and affordable VoIP and cellular gateways solutions for businesses. The Company entered into a definitive agreement for the sale of the Communications Division`s assets in October 2005.
BOS, www.boscorporate.com is traded on NASDAQ (Nasdaq:BOSC - News) and on the Tel-Aviv stock exchange (TASE:BOSC).
The forward-looking statements contained herein reflect management`s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS, including, but not limited to, those risks and uncertainties detailed in BOS` periodic reports and registration statements filed with the U.S. Securities Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
Contact:
Gelbart-Kahana Public Relations &Investors Relations
Mr. Emanuel Kahana, +972-3-6074717
info@gk-biz.com
--------------------------------------------------------------------------------
Source: B.O.S. Better Online Solutions Ltd.
Tuesday December 13, 8:10 am ET
RISHON LEZION, Israel--(BUSINESS WIRE)--Dec. 13, 2005--Odem Electronic Technologies 1992 Ltd. ("Odem"), a wholly owned subsidiary of B.O.S. Better Online Solutions Ltd. ("BOS") (Nasdaq:BOSC - News; TASE:BOSC) announced today that it has expanded its long term agreement to supply a variety of electronics and electromechanical components to the Israel Aircraft Industry`s production plant, by an estimated sum of approximately $2M. The expanded agreement for the supply of electromechanical parts to business jets over the next five years, is now estimated at approximately $5M.
ADVERTISEMENT
Odem`s general manager Mr. Avidan Zelicovsky stated that this expanded agreement is indicative of the ongoing trend Odem is experiencing with key clients expanding and increasing their business cooperation with Odem.
With respect to Odem`s activities, Mr. Zelicovsky continued, "We are investing heavily to expand our activity in the US market as well as developing Odem`s capability in the Radio Frequency Identification (RFID) field. Odem, which in the past completed several RFID projects including the Maccabiah games, is currently involved in several new projects which when matured will present significant opportunities for the company in this new booming technology."
About BOS
B.O.S. Better Online Solutions Ltd. (the "Company" or "BOS") (Nasdaq:BOSC - News; TASE:BOSC) was established in 1990. Through its wholly owned subsidiaries, BOS activities are focused on two divisions:
Connectivity division, with products marketed under the BOSaNOVA brand name. These products deliver instant and transparent connectivity from IBM iSeries computers to personal computers, thin clients and browsers.
Electronic Components division, based on Odem Electronic Technologies 1992 Ltd., providing solutions in RFID, semiconductors, electronic components, CCD, imaging, networking, telecom and automation
An additional focus has been on the Communications division, providing easy to install and affordable VoIP and cellular gateways solutions for businesses. The Company entered into a definitive agreement for the sale of the Communications Division`s assets in October 2005.
BOS, www.boscorporate.com is traded on NASDAQ (Nasdaq:BOSC - News) and on the Tel-Aviv stock exchange (TASE:BOSC).
The forward-looking statements contained herein reflect management`s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS, including, but not limited to, those risks and uncertainties detailed in BOS` periodic reports and registration statements filed with the U.S. Securities Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
Contact:
Gelbart-Kahana Public Relations &Investors Relations
Mr. Emanuel Kahana, +972-3-6074717
info@gk-biz.com
--------------------------------------------------------------------------------
Source: B.O.S. Better Online Solutions Ltd.
BOS Closes Qualmax Transaction
Saturday December 31, 3:23 pm ET
TERADYON, Israel--(BUSINESS WIRE)--Dec. 31, 2005--B.O.S. Better Online Solutions Ltd. ("BOS" or the "Company") (Nasdaq:BOSC - News; TASE:BOSC), announced today that it has closed the transaction for the sale of its Communications Division to Qualmax Ltd., an Israeli wholly owned subsidiary of Qualmax Inc. (Pink Sheets:QMXI.PK - News), a US VoIP service and equipment provider ("Qualmax"). Qualmax recently announced that it has completed a merger with Bench Group Inc., a US publicly traded company ("Bench"). Following the merger, Bench changed its name to Qualmax, Inc.
The consideration paid to BOS in the transaction is approximately 3.2 million Qualmax shares of Common Stock and 4% royalties from future revenues Qualmax generates from the sold business, up to $800,000. Additional shares may be issued to BOS at the end of four consecutive fiscal quarters following the closing of the transaction, contingent upon Qualmax generating by then certain revenues from the sold business. The maximum number of shares that may further be issued to BOS is approximately one million shares.
In addition, BOS and Qualmax Ltd. entered into an Outsourcing Agreement, pursuant to which BOS will provide Qualmax Ltd. with certain operating services relating to the sold Communications Division. The first three months of services will be provided for no charge and Qualmax Ltd. shall pay for these services starting from the fourth month. Qualmax Ltd. can elect to pay for the services rendered during months four to six by issuance to BOS of Qualmax shares valued at $1.43 per share. BOS undertook to provide these services for at least 12 months from closing.
Qualmax also issued to BOS a five-year warrant for the purchase of up to 107,143 shares of its Common Stock at the exercise price of $2.80 per share. BOS received certain piggy-back registration rights with respect to the shares underlying the warrant.
BOS has also signed a bridge loan agreement with Qualmax Ltd. in the amount of $1 million. The proceeds of the loan shall be used exclusively for the financing and the operation of the Communications Division assets acquired by Qualmax from the Company.
The term of the loan is three years and it bears interest equal to the Prime rate plus 2.5%, up to a maximum of 12%. In the first 18 months, Qualmax Ltd. shall pay only the interest accrued on the loan and monthly principal and interest payments shall commence thereafter. As a security for the loan, Qualmax Ltd. has granted BOS a second degree-subordinated floating charge on its assets.
The loan agreement provides that if the sold business generates in the first quarter of 2006 losses that exceed $250,000, the principal amount to be repaid under the loan shall be reduced by the excess losses. In such event, Qualmax shall issue to BOS additional shares of Common Stock against such reduction, valued at $1.43 per share. In addition, the loan shall be immediately repaid in the event Qualmax raises by way of equity financing (or a series of equity financings) an aggregate amount equal to at least $4.5 million.
Mr. Adiv Baruch, CEO of BOS, commented: "We are pleased that we have been able to close the transaction with Qualmax, enabling the communication team to move ahead in the new structured organization to further grow and develop the business. We have structured the transaction so that we receive our sale price in Qualmax shares primarily because we believe in Qualmax`s potential, which we expect will be greatly enhanced by integrating the BOS Communications Division. Obtaining shares in Qualmax just as it begins to operate in the US public markets gives BOS the chance to realize long-term additional value from the sale."
Mr. Edouard Cukierman Chairman of the Board added: "We are very pleased by the accomplishment of the closing of the transaction with Qualmax according to our set schedule. We expect BOS to continue to further grow through its profitable Odem subsidiary and BOScom`s connectivity division, while enabling management to focus on accelerating the M&A activities in the year 2006."
About BOS
B.O.S. Better Online Solutions Ltd. (the "Company" or "BOS") (NASDAQ:BOSC - News; TASE:BOSC) was established in 1990. Through its wholly owned subsidiaries, BOS activities are focused on two divisions:
Connectivity division, with products marketed under the BOSaNOVA brand name. These products deliver instant and transparent connectivity from IBM iSeries computers to personal computers, thin clients and browsers.
Electronic Components division, based on Odem Electronic Technologies 1992 Ltd., which provides solutions in RFID, semiconductors, electronic components, CCD, imaging, networking, telecom and automation.
BOS, www.boscorporate.com is traded on NASDAQ (NASDAQ:BOSC - News) and on the Tel-Aviv stock exchange (TASE:BOSC).
The forward-looking statements contained herein reflect management`s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS, including, but not limited to, those risks and uncertainties detailed in BOS` periodic reports and registration statements filed with the U.S. Securities Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
Contact:
Gelbart-Kahana Public Relations & Investors Relations
Ms. Shelly Horkin, +972-3-6074717
shelly@gk-biz.com
--------------------------------------------------------------------------------
Source: B.O.S. Better Online Solutions Ltd.
Saturday December 31, 3:23 pm ET
TERADYON, Israel--(BUSINESS WIRE)--Dec. 31, 2005--B.O.S. Better Online Solutions Ltd. ("BOS" or the "Company") (Nasdaq:BOSC - News; TASE:BOSC), announced today that it has closed the transaction for the sale of its Communications Division to Qualmax Ltd., an Israeli wholly owned subsidiary of Qualmax Inc. (Pink Sheets:QMXI.PK - News), a US VoIP service and equipment provider ("Qualmax"). Qualmax recently announced that it has completed a merger with Bench Group Inc., a US publicly traded company ("Bench"). Following the merger, Bench changed its name to Qualmax, Inc.
The consideration paid to BOS in the transaction is approximately 3.2 million Qualmax shares of Common Stock and 4% royalties from future revenues Qualmax generates from the sold business, up to $800,000. Additional shares may be issued to BOS at the end of four consecutive fiscal quarters following the closing of the transaction, contingent upon Qualmax generating by then certain revenues from the sold business. The maximum number of shares that may further be issued to BOS is approximately one million shares.
In addition, BOS and Qualmax Ltd. entered into an Outsourcing Agreement, pursuant to which BOS will provide Qualmax Ltd. with certain operating services relating to the sold Communications Division. The first three months of services will be provided for no charge and Qualmax Ltd. shall pay for these services starting from the fourth month. Qualmax Ltd. can elect to pay for the services rendered during months four to six by issuance to BOS of Qualmax shares valued at $1.43 per share. BOS undertook to provide these services for at least 12 months from closing.
Qualmax also issued to BOS a five-year warrant for the purchase of up to 107,143 shares of its Common Stock at the exercise price of $2.80 per share. BOS received certain piggy-back registration rights with respect to the shares underlying the warrant.
BOS has also signed a bridge loan agreement with Qualmax Ltd. in the amount of $1 million. The proceeds of the loan shall be used exclusively for the financing and the operation of the Communications Division assets acquired by Qualmax from the Company.
The term of the loan is three years and it bears interest equal to the Prime rate plus 2.5%, up to a maximum of 12%. In the first 18 months, Qualmax Ltd. shall pay only the interest accrued on the loan and monthly principal and interest payments shall commence thereafter. As a security for the loan, Qualmax Ltd. has granted BOS a second degree-subordinated floating charge on its assets.
The loan agreement provides that if the sold business generates in the first quarter of 2006 losses that exceed $250,000, the principal amount to be repaid under the loan shall be reduced by the excess losses. In such event, Qualmax shall issue to BOS additional shares of Common Stock against such reduction, valued at $1.43 per share. In addition, the loan shall be immediately repaid in the event Qualmax raises by way of equity financing (or a series of equity financings) an aggregate amount equal to at least $4.5 million.
Mr. Adiv Baruch, CEO of BOS, commented: "We are pleased that we have been able to close the transaction with Qualmax, enabling the communication team to move ahead in the new structured organization to further grow and develop the business. We have structured the transaction so that we receive our sale price in Qualmax shares primarily because we believe in Qualmax`s potential, which we expect will be greatly enhanced by integrating the BOS Communications Division. Obtaining shares in Qualmax just as it begins to operate in the US public markets gives BOS the chance to realize long-term additional value from the sale."
Mr. Edouard Cukierman Chairman of the Board added: "We are very pleased by the accomplishment of the closing of the transaction with Qualmax according to our set schedule. We expect BOS to continue to further grow through its profitable Odem subsidiary and BOScom`s connectivity division, while enabling management to focus on accelerating the M&A activities in the year 2006."
About BOS
B.O.S. Better Online Solutions Ltd. (the "Company" or "BOS") (NASDAQ:BOSC - News; TASE:BOSC) was established in 1990. Through its wholly owned subsidiaries, BOS activities are focused on two divisions:
Connectivity division, with products marketed under the BOSaNOVA brand name. These products deliver instant and transparent connectivity from IBM iSeries computers to personal computers, thin clients and browsers.
Electronic Components division, based on Odem Electronic Technologies 1992 Ltd., which provides solutions in RFID, semiconductors, electronic components, CCD, imaging, networking, telecom and automation.
BOS, www.boscorporate.com is traded on NASDAQ (NASDAQ:BOSC - News) and on the Tel-Aviv stock exchange (TASE:BOSC).
The forward-looking statements contained herein reflect management`s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS, including, but not limited to, those risks and uncertainties detailed in BOS` periodic reports and registration statements filed with the U.S. Securities Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
Contact:
Gelbart-Kahana Public Relations & Investors Relations
Ms. Shelly Horkin, +972-3-6074717
shelly@gk-biz.com
--------------------------------------------------------------------------------
Source: B.O.S. Better Online Solutions Ltd.
bosc ist saubillig!
Jan. 3, 2006 10:42 | Updated Jan. 3, 2006 11:02
A hi-tech approach to tracking trash
By AVI KRAWITZ
When Odem Electronics Technologies was presented with an opportunity to enter the world of garbage disposal, the one thing it did not waste was time.
Within two months of a request from German waste management giant Otto Group BV, which was looking for ways to make its operations more efficient, the Tel Aviv-based subsidiary of B.O.S. (Better Online Solutions Ltd.) produced the goods.
Odem signed an agreement with Otto to include its product, which uses RFID (radio frequency identification) technology, to provide in-depth information for refuse disposers - a relatively unexplored concept.
"There are similar technologies that have been in Europe but they have been doing the same thing for seven or eight years," Luc Muller, general manager of Otto, says in an interview with The Jerusalem Post. "The US and Asian markets are near virgin ground for applying RFID to garbage disposal operations and I need a more flexible system to take it there."
Muller, a major shareholder in Otto, has been investing in Israel for over 15 years, and he hopes his latest find in Odem will combine the Israeli flare for providing quick technological solutions with Otto`s experience in marketing, to capture a major share of the US market while still in its infancy.
"The speed of Israel is fabulous, but it`s not strong in marketing," says Muller. "It took less than two months for Odem to find a more modern way of doing what we wanted, which is unheard of in Europe."
Tracking opportunity
What privately owned Otto, with over 65 years experience in the garbage disposal industry, wanted was a better way to track the garbage it was hauling. Using RFID in refuse, a municipality or waste disposal contractor has the ability to recognize the garbage container, weigh it, know how much garbage has been lifted in each truck and bill according to the quantities provided. RFID is a wireless data collection technology that uses electronic tags for storing data and identifying items. These tags are read when located within the proximity of a transmitted radio signal. Under their agreement, Odem and Otto have formed a partnership that will launch Odem`s product in the first quarter of 2006. The project follows Odem`s success from providing the security tagging for the Maccabiah Games in the summer of 2005.
"The Maccabiah was an important event for us in 2005, for our RFID business, and we are now looking to expand that success to applications in other industries," says Avidan Zelikovsky, CEO of Odem. "Our agreement with Otto promises to do the same for us in 2006 and already we`ve had interest from various municipalities and contractors in the US."
In addition to sports events and now waste management, Zelikovsky says the company is working on ways to apply the technology to the transportation, diamond and jewelry, health care, and electric industries. Though each application, he says, requires a different technology.
Should it find the success it hopes for with these projects, Odem believes it will be able to build upon the trend that has seen the company double its revenues over the past two years to $20m. in 2005.
B.O.S.`s bet
"Odem is an illustration of how we intend to grow BOS in the future," says BOS Chairman Edouard Cukierman, who is also the CEO of Catalyst Investment, a venture capital fund that is a major investor in BOS.
BOS bought a 64 percent stake in Odem for just over $2m. in November 2004, increased its stake to 88% in September 2005 and then took full control of the company two months later.
With the acquisition, BOS now has two core businesses - Odem and its connectivity division, which includes the BOSaNOVA family of products.
The connectivity division provides emulation solutions for the IBM series (iSeries) servers. BOS empowers the iSeries servers using BOSaNOVA connecting external users to a server through the Web.
BOS is relying on the two businesses to provide a sorely needed turnaround for the company.
After reaching a peak market capitalization of around $200m. in March 2000, BOS, which is dual-traded on the NASDAQ and the Tel Aviv Stock Exchange, was hit when the hi-tech bubble burst. It had slumped to a valuation of $7m. by May 2003 when the Catalyst fund took control. BOS has since bounced off that low, having recently traded at a market capitalization of $15.55m., but still has a long way to go.
When Catalyst took over, BOS had an accumulated net loss of $30m. and has continued on the losing streak ever since. It had a net loss of $2.05m. in 2004 and a loss of $3.6m. for the first nine months of 2005, despite quadrupling its revenue to $20.8m. for the latter period.
Cukierman attributes the poor performance to BOS`s communications division, which focuses on Voice over Internet Protocol (VoIP) and "has been losing a lot of money."
Rapid realignment
Given the losses, the company has seen its stock moved from the Nasdaq National Market to a less prestigious and more speculative over-the-counter small cap listing.
To regain its stature and cut its losses, BOS has embarked on a selling spree of the non-core businesses that have been a drag on the company.
"The main focus for Catalyst now is to turn BOS around and bring it to a critical size. So we`ve added a lot of activity around BOS to make it a profitable business," says Cukierman.
To that effect, BOS this week sold its communications division to US VoIP service and equipment provider Qualmax in exchange for 3.2 million Qualmax shares and 4% of royalties (up to $800,000) from future revenue Qualmax generates from the sold business.
In July, BOS sold its software utilities company, PrintBos, to Consist Technologies Ltd. and Consist International Inc. for $500,000 plus additional payments of up to $1m. per year for the next three years dependant upon PrintBOS revenues.
Now, Cukierman says BOS is ready to continue on the acquisition trail in search of complementary businesses to work with Odem and the connectivity unit.
Nevertheless, it`s Odem and its involvement in RFID that BOS believes will most likely drive the company forward - the partnership with Otto being the litmus test.
"Odem is a local pilot that we hope to turn into an international project through our European partners," says Cukierman. "That way we get to a critical size suitable for a NASDAQ-traded company."
A hi-tech approach to tracking trash
By AVI KRAWITZ
When Odem Electronics Technologies was presented with an opportunity to enter the world of garbage disposal, the one thing it did not waste was time.
Within two months of a request from German waste management giant Otto Group BV, which was looking for ways to make its operations more efficient, the Tel Aviv-based subsidiary of B.O.S. (Better Online Solutions Ltd.) produced the goods.
Odem signed an agreement with Otto to include its product, which uses RFID (radio frequency identification) technology, to provide in-depth information for refuse disposers - a relatively unexplored concept.
"There are similar technologies that have been in Europe but they have been doing the same thing for seven or eight years," Luc Muller, general manager of Otto, says in an interview with The Jerusalem Post. "The US and Asian markets are near virgin ground for applying RFID to garbage disposal operations and I need a more flexible system to take it there."
Muller, a major shareholder in Otto, has been investing in Israel for over 15 years, and he hopes his latest find in Odem will combine the Israeli flare for providing quick technological solutions with Otto`s experience in marketing, to capture a major share of the US market while still in its infancy.
"The speed of Israel is fabulous, but it`s not strong in marketing," says Muller. "It took less than two months for Odem to find a more modern way of doing what we wanted, which is unheard of in Europe."
Tracking opportunity
What privately owned Otto, with over 65 years experience in the garbage disposal industry, wanted was a better way to track the garbage it was hauling. Using RFID in refuse, a municipality or waste disposal contractor has the ability to recognize the garbage container, weigh it, know how much garbage has been lifted in each truck and bill according to the quantities provided. RFID is a wireless data collection technology that uses electronic tags for storing data and identifying items. These tags are read when located within the proximity of a transmitted radio signal. Under their agreement, Odem and Otto have formed a partnership that will launch Odem`s product in the first quarter of 2006. The project follows Odem`s success from providing the security tagging for the Maccabiah Games in the summer of 2005.
"The Maccabiah was an important event for us in 2005, for our RFID business, and we are now looking to expand that success to applications in other industries," says Avidan Zelikovsky, CEO of Odem. "Our agreement with Otto promises to do the same for us in 2006 and already we`ve had interest from various municipalities and contractors in the US."
In addition to sports events and now waste management, Zelikovsky says the company is working on ways to apply the technology to the transportation, diamond and jewelry, health care, and electric industries. Though each application, he says, requires a different technology.
Should it find the success it hopes for with these projects, Odem believes it will be able to build upon the trend that has seen the company double its revenues over the past two years to $20m. in 2005.
B.O.S.`s bet
"Odem is an illustration of how we intend to grow BOS in the future," says BOS Chairman Edouard Cukierman, who is also the CEO of Catalyst Investment, a venture capital fund that is a major investor in BOS.
BOS bought a 64 percent stake in Odem for just over $2m. in November 2004, increased its stake to 88% in September 2005 and then took full control of the company two months later.
With the acquisition, BOS now has two core businesses - Odem and its connectivity division, which includes the BOSaNOVA family of products.
The connectivity division provides emulation solutions for the IBM series (iSeries) servers. BOS empowers the iSeries servers using BOSaNOVA connecting external users to a server through the Web.
BOS is relying on the two businesses to provide a sorely needed turnaround for the company.
After reaching a peak market capitalization of around $200m. in March 2000, BOS, which is dual-traded on the NASDAQ and the Tel Aviv Stock Exchange, was hit when the hi-tech bubble burst. It had slumped to a valuation of $7m. by May 2003 when the Catalyst fund took control. BOS has since bounced off that low, having recently traded at a market capitalization of $15.55m., but still has a long way to go.
When Catalyst took over, BOS had an accumulated net loss of $30m. and has continued on the losing streak ever since. It had a net loss of $2.05m. in 2004 and a loss of $3.6m. for the first nine months of 2005, despite quadrupling its revenue to $20.8m. for the latter period.
Cukierman attributes the poor performance to BOS`s communications division, which focuses on Voice over Internet Protocol (VoIP) and "has been losing a lot of money."
Rapid realignment
Given the losses, the company has seen its stock moved from the Nasdaq National Market to a less prestigious and more speculative over-the-counter small cap listing.
To regain its stature and cut its losses, BOS has embarked on a selling spree of the non-core businesses that have been a drag on the company.
"The main focus for Catalyst now is to turn BOS around and bring it to a critical size. So we`ve added a lot of activity around BOS to make it a profitable business," says Cukierman.
To that effect, BOS this week sold its communications division to US VoIP service and equipment provider Qualmax in exchange for 3.2 million Qualmax shares and 4% of royalties (up to $800,000) from future revenue Qualmax generates from the sold business.
In July, BOS sold its software utilities company, PrintBos, to Consist Technologies Ltd. and Consist International Inc. for $500,000 plus additional payments of up to $1m. per year for the next three years dependant upon PrintBOS revenues.
Now, Cukierman says BOS is ready to continue on the acquisition trail in search of complementary businesses to work with Odem and the connectivity unit.
Nevertheless, it`s Odem and its involvement in RFID that BOS believes will most likely drive the company forward - the partnership with Otto being the litmus test.
"Odem is a local pilot that we hope to turn into an international project through our European partners," says Cukierman. "That way we get to a critical size suitable for a NASDAQ-traded company."
sieht gut aus 
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