Electronics Line 3000 Ltd.
Electronics Line 3000 Ltd.: Electronics Line publishes the financial results for the first six months of 2013
Electronics Line 3000 Ltd. / Key word(s): Half Year Results/Interim Report Electronics Line publishes the financial results for the first six months of 2013 – Sales roughly stable at US$ 8.5 million (H1 2012: US$ 8.7 million) – Net Profit amounted to US$ 1.3 million (H1 2012: US$ 1.8 million) – Net cash flow from operating activities increased to US$ 1.4 million (H1 2012: US$ 0.3 million) – Equity ratio improved to 68% (31.12. 2012: 52%) Rishon LeZion, Israel (August 15, 2013) – Electronics Line 3000 Ltd. (‘the Company’ or ‘Electronics Line’) (XETRA: ELN), a global provider of wireless security with remote management solutions, today published the financial results and the interim report for the first six months of 2013 (‘Reporting Period’). In the Reporting Period, Electronics Line maintained revenues and gross profit at a level roughly similar to the result of the previous year, while at the same time substantially improving its liquidity and financing position. Net cash provided by operating activities more than quadrupled to US$ 1.4 million (H1 2012: US$ 0.3 million) and the equity ratio improved from 52% as of December 31, 2012 to 68% at the end of the Reporting Period. Financial Highlights The Company’s revenues in the Reporting Period amounted to US$ 8.5 million, compared to revenues of US$ 8.7 million during the same period last year. Gross profit decreased from US$ 3.9 million (44.2% of sales) in the first half of the previous year to US$ 3.6 million (41.9% of sales) in the Reporting Period. Operating expenses remained roughly stable in the reporting period, compared to the first half of 2012. While Research and Development expenses slightly dropped, the opposite was true for selling and marketing expenses. Net income decreased year-on-year from US$ 1.8 million to US$ 1.3 million, as last year’s net income was positively influenced by an extraordinary income of US$ 0.4 million. In the Reporting Period net cash provided by operating activities improved to US$ 1.4 million compared to US$ 0.3 million during the respective six months period last year. Due to the positive cash flow the Company’s cash and cash equivalents as of June 30, 2013 increased to US$ 1.9 million, compared to US$ 0.8 million on December 31, 2012. Shareholders’ equity as of June 30, 2013 amounted to US$ 4.96 million, corresponding in an equity ratio of 68%, compared to US$ 3.7 million (52%) as at December 31, 2012. Outlook The reviewed interim report for the first six months 2013 is available on the Company’s website at www.electronics-line.com in the investors section.
Ms. Sari Ellenberg
Upgrading Everyday Security EL’s wireless solutions offer enhanced detection and PSTN/IP/GSM/GPRS-based event reporting, along with advanced remote management tools. The back-office support and customized branding of EL solutions provide superior security with significant business benefits and market expansion potential. Global Partnerships EL has made emerging technology, user-friendly design and exceptional quality the benchmarks for serving its international network of clients and partners. Drawing on a tradition of pioneering expertise, EL specialists also provide security integration consultancy, installation service, training and technological support. EL was established in 1982 and is headquartered in Israel. The Company is publicly traded on the Frankfurt Stock Exchange (ELN) and is part of the RISCO Group, an established leader in the international security market.
This release contains forward-looking statements, which express the current beliefs and expectations of management. Such statements involve a number of known and unknown risks and uncertainties that could cause the Company’s future results, performance or achievements to differ significantly from those expressed or implied by such forward-looking statements. A number of these risks and other factors that might cause differences, some of which could be material, along with additional discussion of forward-looking statements, are set forth in the Company’s Annual Report and its other filings and releases. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. End of Corporate News 15.08.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Electronics Line 3000 Ltd. | |
14 Hachoma St. | ||
75655 Rishon LeZion | ||
Israel | ||
Phone: | 00972 3 9181333 | |
Fax: | 00972 3 9616 584 | |
E-mail: | investor.relations@electronics-line.com | |
Internet: | www.electronics-line.com | |
ISIN: | IL0010905052 | |
WKN: | A0B5R7 | |
Indices: | DAXsector All Technology, DAXsector Technology, DAXsubsector All Communications Technology, DAXsubsector Communications Technology , Prime All Share, Technology All Share, | |
Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München | |
End of News | DGAP News-Service |
226093 15.08.2013 |