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Magal Security Systems (MAGS) Message Board

  • losesomewinsome losesomewinsome Jun 26, 1998 4:23 PM Flag

    Frustration

    Will this dog ever hunt? I'm long at about twice
    where we are now. Biggest frustration is that
    management doesn't seem to care what the stock price is.
    There is no news that I ever see. No excitement. We
    should be better than we are. Does this outfit have any
    good plans? If Co. doesn't care why should anyone want
    to buy. I'm staying in hoping that someone at MAGSF
    will eventually wake up to the fact that they could be
    really good if they got with it. Hello!

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Losesome....

      Maybe they heard your cry of
      frustration:


      Tuesday June 30, 8:30 am Eastern Time

      Company
      Press Release

      Magal Security Systems Ltd.
      Announces Delivery of First Pallets
      Screening
      Machine

      Shipment Added Benefit To Anticipated Good Second Quarter
      Results

      YAHUD, Israel--(BUSINESS WIRE)--June 30,
      1998-- Magal Security Systems,
      Ltd. (NASDAQ:MAGSF -
      news), announced today that it expects the

      anticipated good financial results for the second quarter of
      1998 to
      further benefit from the recent delivery
      and acceptance of one pallets
      screening machine,
      of an order of four. The remaining units are
      expected
      to be shipped later this year.

      The
      original order, for US$3.2 million, for four pallets
      screening
      machines for the Israeli Customs Authority
      was delayed because the
      American sub-contractor
      was late in supplying certain critical
      electronic
      components.

      Kobi Even-Ezra, Chairman and CEO, stated,
      ``After a long delay we are
      pleased that we have
      finally been able to deliver the first of several

      pallets screening machines. This favorable development,
      and the
      expectation that the remaining pallets
      screening machines will be
      delivered this year, will
      make a good second quarter even better.''

      This
      press release contains forward-looking statements which
      are subject
      to risks and uncertainties. Such
      statements are based on assumptions and
      expectations
      which may not be realized and are inherently subject to

      risks and uncertainties, many of which cannot be
      predicted with accuracy
      and some of which might not
      even be anticipated. Future events and
      actual
      results, financial and otherwise, may differ from the
      results
      discussed in the 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
      Report on Form 8-K filed with
      the Securities and
      Exchange Commission.

      Magal Security Systems, Ltd.
      is engaged in the development, manufacture
      and
      marketing of computerized security systems which
      automatically
      detect, locate and identify the nature of
      intrusions. Magal also
      manufactures and markets systems
      which automatically detect, locate and
      identify
      explosive devices in luggage, packages and other parcels.
      The
      Company's principal products include a
      detection system called AISYS,
      and a video motion
      detection system called DTS. Magal's products
      currently
      are used in more than 60 countries to protect
      national borders
      and sensitive facilities from
      terrorism, theft and other threats.

      ------------------------------------------------------------------------
      Contact:
      Raya Asher, CFO
      MAGAL SECURITY SYSTEMS,
      LTD.
      011-972-3-539-1444
      or
      Stephen D. Axelrod,
      CFA
      Susan T. Bolen (Media)
      WOLFE AXELROD
      ASSOCIATES
      212-370-4500; 212-370-4505 (fax)
      E-mail:
      steve@wolfeaxelrod.com

      • 1 Reply to apotelesmatic
      • Thanks for your post. This is exactly what we
        needed to get started in the right direction. Hopefully
        Management will understand how short the attention span is
        here in the US and will assure that they have
        visibility on a more regular basis. Those long times of
        quiet are deadly. There should be a lot to build on
        here including what sounds like good earnings next
        time. By the way does anyone know when next time is?
        Hopefully MAGSF will toot the horn loudly when they release
        good numbers.

 
MAGS
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