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Valor Increases Profitability in Q2/2009; Positive Cash Flow Increased.

YAVNE, Israel – August 13, 2009 - 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 June 30, 2009.

Revenues in the second quarter of 2009 were $9.2M, a slight increase as compared with the revenues in the previous quarter, which accumulated to $9M.

Operating profit in the second quarter of 2009 was $0.7M, as compared with operating profit of $0.8M in the previous quarter.

Net profit in the second quarter of 2009 was $1.1M, as compared with net profit of $0.8M in the previous quarter. Positive cash flow from operating activities during the quarter accumulated to $1.4M.

Earnings per Share (diluted) in the second quarter of 2009 were $0.06, as compared with earnings per share of $0.04 in the previous quarter.

Revenues in the first six months of 2009 accumulated to $18.2M. Operating profit during that period was $1.5M, and net profit was $1.9M.

Earnings per share (diluted) in the first six months of 2009 were $0.10.

The company has cash and cash equivalents in amount of $27.3M at the end of the second quarter of 2009.

Summary of Financial Data (Unaudited, $US thousands unless otherwise noted):

Q2/09

Q1/09

% Change

Product Sales

4,948

4,564

8.4%

Service Revenues

4,256

4,391

(3.1%)

Total Revenues

9,204

8,955

2.8%

Gross Profit

7,882

7,689

2.5%

EBITDA

1,219

1,365

(10.7%)

EBIT

665

801

(17.0%)

Net Profit (Loss)

1,121

800

40.1%

EPS in US$ (diluted)

0.06

0.04

50.0%

Shareholder’s Equity

43,099

40,216

7.2%

Total Assets

53,264

50,409

5.6%

Research & Development

2,258

2,152

4.9%

Employees (Period End)

232

231

0.4%


Some of the following statements are forward-looking in nature, and actual results may differ materially:

Referring to the financial results, Dan Hoz, Valor’s CEO said: “I am pleased to see the continued trend of profitability, supported by strong cash flow. It serves to validate the increase in our operational efficiency and enables us to keep our growth strategy on track and respond in time to the rising market demand”.

“We are starting to see the market picking up – especially in Asia, and particularly in the Assembly arena, and we are working diligently to capture the available opportunities as well as develop new ones and invest in our future growth”, He concluded.

The complete financial report can be downloaded from the Investor Relations section on the Valor corporate website: www.valor.com

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.

 
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