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Magal Proves Relevance (MAGS)

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By Jon C. Ogg Published

Magal Security Systems Ltd. (NASDAQ: MAGS) is showing just how little companies can be huge winners or huge losers based upon orders and earnings.  Over a week ago the Israeli security systems company said it secured $2.4 million in re-orders and now its earnings are out showing that sales increased 107% to a record $27.7 million and its gross profit in the quarter rose by 142% to $13.1 million.

The quarterly net income was $0.61 EPS in the quarter and its cash and cash equivalents were $33.8 million or $2.14 per basic share.  At $4.52 after a 70% gain in one day, the new 52-week trading range is $2.18 to $4.84.

Contact [email protected] for any questions or corrections.

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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