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ISIN: IL0010828171 · WKN: 914000 · Symbol: BOSC
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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.
ADVERTISEMENT
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.
ADVERTISEMENT
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.
Kurzfristig 3,40$. Über 4,00$ ist nicht. Da schon vier mal abgeprallt. Es kann daher noch lange dauern. Hier immer unten kaufen und oben verkaufen.
Chart ist auch schon ziemlich ausgereizt, aber noch nicht ganz am Ende.
Chart ist auch schon ziemlich ausgereizt, aber noch nicht ganz am Ende.
also, hab nur die ersten zeilen gelesen, und die sagen loss, loss und nochmal loss. das ist nicht die beste voraussetzung für nen aktienkauf.
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.
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.
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