Home | Business News | Browse by Publication | P | PR Newswire

Crow Announces Third Quarter 2005 Results.

Article Excerpt
Third Quarter Revenues Grow 20% Sequentially and Net Income Grows by 400%

AIRPORT CITY, Israel, November 29 /PRNewswire-FirstCall/ -- Crow Technologies 1977 Ltd. , a worldwide leading manufacturer of residential, commercial and industrial security products, today announced its consolidated financial results for the Nine months and three months, ended September 30, 2005 according to Israeli GAAP.

Revenues for the third quarter 2005 were NIS 32.7 million. This represents sequential revenue growth of 19.8% from NIS 27.3 million as reported in the second quarter of 2005. Revenues for the 9-month period ended September 30, 2005 were NIS 89.0 million.

Gross profit for the third quarter of 2005 was NIS 13.7 million, 44.7% above gross profit of NIS 9.5 million as reported in the second quarter of 2005. Gross margin for the third quarter is 41.9 % of revenues, as compared with 34.7% for the second quarter of 2005. Gross profit for the 9-month period ended September 30, 2005 was NIS 33.5 million, or 37.6% of revenues compared with 38.8 % for year 2004.

Operating income for the third quarter of 2005 was NIS 5.7 million or 17.4% of revenues, representing 275% growth compared with NIS 1.5 million, or 5.5% of revenues in the second quarter of 2005. Operating income for the 9-month period ended September 30, 2005 reached NIS 9.3 million or 10.4% of revenues.

Net income for the third quarter of 2005 was NIS 4.3 million or 13.0% of revenues, representing sequential growth of 397% compared with a net income of NIS...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!