Roger, bought a little MAGS today in the security area, even though it violates my low-average daily volume rule. They are profitable with a decent PE (about 27 trailing, 20+ forward?) and have been profitable for 12 quarters in a row. Not sure why they have not been discovered.
Magal Security Systems Ltd. Announces 2001 Fourth Quarter and Year-End Results -2001 Net Income Increases 9.6% To A Record $3.2 Million- -Net Income For The Quarter Up 16.4%-
YAHUD, Israel, Feb 11, 2002 (BUSINESS WIRE) -- Magal Security Systems Ltd. (Nasdaq NM: MAGS chart, msgs; TASE:MAGS) today announced consolidated financial results for the three-and twelve-month periods ended December 31, 2001.
Magal Chairman and CEO Jacob Even-Ezra said: "During 2001 we established a new company, Smart Interactive Systems, Inc. (SIS), in New York, to participate in the new and growing market for real time video monitoring security services targeted at the higher-margin commercial, industrial and VIP residential market. Consequently, despite 2001 being a year in which we posted record net income, results for the period, particularly SG&A for the fourth quarter, were negatively impacted by the ramping up of operations of this new venture."
Magal Security Systems is engaged in the development, manufacture, and marketing of computerized security systems which automatically detect, locate, and identify intrusions and explosive devices. For the 9 months ended 9/30/00, revenues increased 20% to $28.1M. Net income rose 50% to $2.2M. Revenues reflect an increase in perimeter system sales. Earnings also reflect an increase in gross profit margin. |
