DGAP-News: Electronics Line 3000 Ltd.: Net profit improved to US$ 1.1 million for fiscal 2012
(firmenpresse) - DGAP-News: Electronics Line 3000 Ltd. / Key word(s): Final Results
Electronics Line 3000 Ltd.: Net profit improved to US$ 1.1 million for
fiscal 2012
21.03.2013 / 17:12
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Net profit improved to US$ 1.1 million for fiscal 2012
- Sales totaled to US$ 14.3 million in 2012 (2011: adjusted US$ 18.2
million)
- Gross profit margin for 2012 improved to 37.9% (2011: adjusted1 32.7%)
- Net profit of US$ 1.1 million (2011: adjusted1 net profit of US$ 0.5
million)
Rishon LeZion, Israel (March 21, 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 annual report for fiscal 2012.
Despite significantly decreased revenues in 2012 ('Reporting Period'),
mainly caused by the shortfall of orders from a major client and by general
adverse market conditions, Electronics Line was able to significantly
improve its profitability during the Reporting Period.
Financial Highlights
- The Company's revenues in the Reporting Period amounted to US$ 14.3
million, compared to adjusted US$ 18.2 million for the year ended
December 31, 2011.
The decrease in revenues was mainly due to the change in the
Scandinavian market, where a long-term customer relationship was
discontinued because of an M&A transaction of the client and the
postponement of orders from a major customer following overstock with
the client warehouse.
- The gross profit for the Reporting Period amounted to US$ 5.4 million
(37.9% of the revenues) compared to adjusted US$ 5.9 million (32.7% of
the revenues) in 2011. The margin increase resulted from efficiency
gains and the use of outsourcing partners. Also, new high margin
products were launched while old and low margin products were ceased.
- The net profit for the Reporting Period amounted to US$ 1.1 million,
compared to adjusted net profit of US$ 0.5 million in the comparable
year.
- During the Reporting Period, net cash provided by operating activities
was US$ 617,000 compared to net cash used in operating activities of
US$ 255,000 during the comparable year.
- The Company's cash and cash equivalents as of December 31, 2012 were
US$ 0.8 million, compared to US$ 1.7 million on December 31, 2011. The
decrease is mainly due to cash used in financing activities, especially
the repayment of a bank loan in the amount of US$ 1.2 million. This was
compensated with cash provided by operating activity in the amount of
US$ 0.6.
- The Company's total equity as of December 31, 2012 was US$ 3.7 million,
corresponding in an equity ratio of 51.5%, compared to US$ 2.5 million
(29.0%) as at December 31, 2011.
Outlook
Looking ahead to the business year, the Company expects an increase in
revenues of 25% to approximately US$ 18 million, mainly from its strategic
customers and markets, in particular, Northern and Western Europe, and from
the new product line (ELAS, iConnect 2 way and CommPact). With the
increasing revenue, the Company also anticipates a continuously improving
earnings situation.
The Company launched a pilot of its cloud-based solution, www.MyELAS.com,
among a small group of customers, enabling them to independently register
their wireless alarm systems to the cloud and thereby monitor and control
their premises as well as receiving images from the motion detector
cameras. In addition, customers can manage their installer base via the web
admin application.
The Company expects that these new services, in addition to the Smartphone
applications for iPhone and Android, will help increase sales of the
iConnect and CommPact panels.
The Company continues focusing on its Two-way-wireless iConnect product
line and its PIR camera detector with a built-in camera for video
verification, in addition to the release of new complimentary products such
as the two-way repeater for extending the detectors' range and the two-way
vibration detector, all sustaining market expansions and increased sales.
The full 2012 annual report is available on the Company's website at
www.electronics-line.com in the investors section.
For more information please contact:
Ms. Sari Ellenberg
investor.relations(at)electronics-line.com
About Electronics Line (EL):
EL is a pioneer in next-generation security solutions for the residential
and small commercial markets. The Company designs and produces cutting-edge
solutions for security and control of living and working environments. The
EL line provides comprehensive security protection, as well as
sophisticated system and home management functionality, for optimal
comfort, safety and peace of mind. This new industry standard is further
upgraded with enhanced remote management capabilities that give homeowners
instant access to their system from anywhere in the world.
Upgrading Everyday Security
EL solutions enable new levels of control and maintenance in protected
sites through the ELAS, a proprietary remote management server. The Company
enjoys a unique market position in supplying ELAS-governed systems for the
home and workplace, which provide the multiple benefits of a virtual
security presence, convenient home automation, and energy efficiency, all
customized by the end-user and/or the service provider.
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
Nearly three decades of cutting-edge leadership have earned EL a solid
market position, allowing users worldwide to benefit from EL's ongoing
development of upgraded security solutions. The Company maintains long-term
partnerships worldwide.
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.
Disclaimer:
'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 filed with the Israeli Securities
Authority. 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
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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(at)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
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