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Magal Security Systems Ltd. Message Board

  • smk_01_2002 smk_01_2002 Jul 17, 2004 11:13 AM Flag

    Interesting Speech

    We are growing at over 18% per year on a compound basis. Our target, first of all, is to maintain and even increase this level. For the nine months just gone, we grew by about 40% over the year prior, and our operating profit grew by about 70%. We will publish our full year in a few weeks and I think it is safe to say 2003 will turn out to be a very good year, in fact a record year for us. We also believe that 2004 will be significantly better. Now, if look at our targets, first of all we are going to launch three new products this year. One of them is Fortis, which we announced a couple of weeks ago. It is a control and command system that is especially applicable for closed sites such as ports, airports, and colleges. We are very excited about this and think there is a lot of potential. We will be launching two other products shortly, one in a couple of weeks and the other in about three months. So, we see 2004 as the year when our plans will start to get off of the ground. I don't think the new products will do a lot of sales during this year because it will take a little while to get some traction, but it is an exciting year for product launches after these past few years of strong R&D focus.

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