Valor Computerized Systems Ltd. / Quarter Results
12.05.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Valor Shows Significant Increase in Profitability and another Quarter of
Record Revenues in Q1/2008
YAVNE, Israel May 12, 2008 - Valor Computerized Systems Ltd. [Prime
Standard: VCR], a global provider of productivity improvement software
solutions for the printed circuit board industry, announced today its
financial results for the period ending March 31, 2008.
Revenues in the first quarter of 2008 accumulated to $10.7 Million, an
increase of 3% as compared to $10.3 Million in the first quarter of 2007.
The net profit increased by 91% as compared to the fourth quarter of 2007
from $0.8 Million to $1.5 Million, and by 67% as compared $0.9 Million in
the first quarter of 2007.
EBITDA was $1.7 Million in the first quarter of 2008 an increase of 44%
compared to $1.2 Million in the previous quarter, and an increase of 16% as
compared to $1.4 Million in the parallel period of the previous year.
EBIT was $1.1 Million in the first quarter of 2008 nearly twice as in the
previous quarter, and 23% more than in the first quarter of 2007.
Earning per Share (diluted) in the first quarter of 2008 was $0.07, as
compared to $0.04 in the previous quarter and $0.05 in the first quarter of
2007.
Summary of Financial Data:<pre>
Q1/2008 Q1/2007 % Q4/2007 %
(Unaudited) (Unaudited) Change (Unaudited) Change
Product Sales 6,259 6,452 (3.0)% 6,055 3.4%
Maintenance 4,392 3,850 14.1% 4,507 (2.6)%
Income
Total Revenues 10,651 10,302 3.4% 10,562 0.8%
Gross Profit 9,051 8,880 1.9% 9,147 (1.0)%
EBITDA 1,658 1,428 16.1% 1,156 43.5%
EBIT 1,089 888 22.7% 549 98.4%
Net Profit 1,481 888 66.7% 776 90.8%
EPS in US$ 0.07 0.05 40.0% 0.04 75.0%
(diluted)
Shareholders 47,920 39,521 21.3% 44,910 6.7%
Equity
Total Assets 60,994 54,618 11.7% 56,792 7.4%
Research & 2,838 3,487 (18.6 3,201 (11.3
Development )% )%
Employees 252 260 (3.1)% 263 (4.2)%
(Period End)</pre>
(all figures are in US$ 1000, unless otherwise noted)
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Information and Explaination of the Issuer to this News:
Some of the following statements are forward-looking in nature, and actual
results may differ materially:
'Q1 was a good quarter for Valor, with results that were in par with our
expectations,' said Ofer Shofman, Valors President and CEO. 'We have been
working to increase our profitability and are pleased to see that our
efforts have been fruitful, showing a significant increase in both
operational and bottom line profits, which nearly doubled as compared to
the previous quarter. All this, despite Q1s traditional reputation as
being a weaker quarter, and in lieu of the US Dollars weakness against
other currencies.'
'We continue to pursue our development and marketing plans, including
establishment of OEM agreements with some of the worlds largest
electronics assembly equipment vendors as means of expanding our
distribution channels in a profitable manner. In addition, we continue to
forge technological alliances with equipment vendors, which enable us to
grow our customer base by expanding the scope of our solutions.'
'Overall, we are pleased with the quarterly results and continue to
implement our growth strategies in all markets and regions.' Shofman
concluded.
The complete financial report can be downloaded from the Investor Relations
section on the Valor corporate website: www.valor.com
About Valor
Valor is a global provider of productivity improvement software solutions
for the printed circuit board, or PCB, manufacturing supply chain. PCBs are
the principal electronic interconnect technology used in the vast majority
of electronic products sold today. Valors solutions target three key
segments in the PCB manufacturing market: design of the physical layout of
the PCB, fabrication of the bare PCB, and assembly of PCB components. Valor
is listed on the Prime Standard of the Frankfurt Stock Exchange [WKN
928731]. More information about Valor can be found on www.valor.com.
Contact Information
Valor Corporate:
Alon Erlich, Valor Computerized Systems, Ltd.; IR@Valor.com; Tel:
+972-(0)8-943-2430
Risks Regarding Forward Looking Statements
Certain statements included herein are forward-looking in nature and,
accordingly, are subject to risks and uncertainties. Such forward-looking
statements include statements regarding the size and timing of the proposed
offering. These forward-looking statements are only predictions based on
our current expectations and projections about future events. Many
factors, including those indicated in the press release, as well as general
market conditions, could impact the realization of these forward-looking
statements. Valor wishes to caution prospective investors not to rely on
any such forward-looking statements as predictions of future events. Valor
does not undertake, and specifically disclaims any obligation, to update
any forward-looking statements, which speak only as of the date made. For
additional information, see our website at: www.valor.com/fls
DGAP 12.05.2008
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Language: English
Issuer: Valor Computerized Systems Ltd.
4 Faran Street
70600 Yavne
Israel
Phone: +972-(0)3 - 9432430
Fax: +972-(0)3 - 9432429
E-mail: IR@valor.com
Internet: www.valor.com
ISIN: IL0010845324
WKN: 928731
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Düsseldorf
End of News DGAP News-Service
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DGAP-Adhoc: Valor Shows Significant Increase in Profitability and another Quarter of Record Revenues in Q1/2008
| Source: EQS Group AG