Backlog at highest level in multiple years
YEHUD, Israel, January 24, 2018 /PRNewswire/ --
Magal Security Systems, Ltd. (MAGS) announced that since the beginning of 2018, it has been awarded approximately $20 million in contracts for integrated security solutions, including a $16 million order for the protection of critical energy infrastructures in the Americas. The vast majority of the orders are expected to be delivered during 2018.
Saar Koursh, CEO of Magal, commented: "Magal's many years of experience in perimeter security as well as our integration capabilities have enabled us to win increased business in this region. These new orders integrate a number of our key perimeter intrusion detection technologies including, Omnitrax, our buried cable sensor to detect underground tunnelling, as well as Video Management Software and Intelligent Video Analytics. These order wins represent a very solid start to 2018 and we look forward to a year of strong growth for Magal."
Magal is a leading international provider of solutions and products for physical and video security solutions, as well as site management. Over the past 45 years, Magal has delivered its products as well as tailor-made security solutions and turnkey projects to hundreds of satisfied customers in over 80 countries - under some of the most challenging conditions.
Magal offers comprehensive integrated solutions for critical sites, managed by Fortis4G - our 4th generation, cutting-edge physical security information management system (PSIM). The solutions leverage our broad portfolio of home-grown PIDS (Perimeter Intrusion Detection Systems), Symphony - our advanced VMS (Video Management Software) with native IVA (Intelligent Video Analytics) security solutions.
Forward Looking Statements
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown 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 Magal's reports filed from time to time with the Securities and Exchange Commission, including its Annual Report on Form 20-F and Current Reports on Form 6-K.
GK Investor Relations
Ehud Helft / Gavriel Frohwein
Tel: (US) +1-646-688-3559