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Magal Security Systems (MAGS) Message Board

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  • madd_mags44 madd_mags44 Jul 17, 2004 1:33 PM Flag

    Interesting Speech

    see ya @ 9 no contracts/sales, nothing.

    oh you forgot to mention MAGS has warned that a loss is going to be announced this qt.

    • It seems you did not read the entire press release other than the paragraph about the expected loss. Two of the company officers who are both major shareholders are personally awarding $1.2 million dollars to the company employees. By GAAP rules that award has to be taken as an expense on the balance sheet without affecting any cash flows. On a pro forma basis, MAGS should make a healthy profit this quarter and one that may be 50-100% higher than the first quarter. At that point shorts will be toast.

 
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