B.O.S. Better Online Solutions Ltd (BOSC) has reported a 33.18 percent plunge in profit for the quarter ended Mar. 31, 2017. The company has earned $0.15 million, or $0.05 a share in the quarter, compared with $0.22 million, or $0.09 a share for the same period last year. On an adjusted basis, net profit for the quarter was $0.18 million, when compared with $0.31 million in the last year period. Revenue during the quarter dropped 12.43 percent to $7.06 million from $8.07 million in the previous year period. Gross margin for the quarter expanded 127 basis points over the previous year period to 20.50 percent. Total expenses were 96.63 percent of quarterly revenues, up from 96.26 percent for the same period last year. That has resulted in a contraction of 37 basis points in operating margin to 3.37 percent.
Operating income for the quarter was $0.24 million, compared with $0.30 million in the previous year period.
Yuval Viner, chief executive officer, stated: “We ended the first quarter with a $147,000 net profit, compared to net profit of $220,000 in the comparable quarter last Year. On annual basis, we anticipate growth in net income from $360,000 in year 2016 to $500,000 in year 2017 and we expect for growth in 2017 revenues as compared to year 2016.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
