DGAP-News: Electronics Line 3000 Ltd.: Electronics Line publishes the financial results for the first six months of 2013
(firmenpresse) - DGAP-News: Electronics Line 3000 Ltd. / Key word(s): Half Year
Results/Interim Report
Electronics Line 3000 Ltd.: Electronics Line publishes the financial
results for the first six months of 2013
15.08.2013 / 13:45
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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
In view of the success in gaining new customers for the Company's two-way
iConnect and CommPact systems for the residential and small commercial
markets, at the moment the Company believes that it will achieve the
financial targets for fiscal 2013 and expects that sales will amount to
approximately US$ 18 million. However, in view of the economic difficulties
in many European markets and the continuing recession in southern Europe,
the Company also realizes that there are risks for the development of sales
in those countries.
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.
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 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
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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 584E-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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226093 15.08.2013
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Datum: 15.08.2013 - 13:45 Uhr
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