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BOS Better Online Solutions (NASDAQ: BOSC) reported its financial results for Q1 2024. Revenues decreased by 7% to $11.3 million from $12.1 million in Q1 2023. However, the gross profit margin improved to 22.7% from 21.9%. EBITDA slightly decreased to $1,003,000 compared to $1,031,000 in Q1 2023. Financial expenses were reduced by 57.3% to $105,000 from $246,000. Net income grew by 13% to $741,000 or $0.13 per share, up from $656,000 or $0.12 per share in Q1 2023.
CEO Eyal Cohen expressed satisfaction with the results, highlighting the record quarterly net income and EPS. The company aims for 2024 revenues of $46 million and a net income of $2.2 million. BOS has seen consistent growth since 2021 and maintains a positive cash position, according to Chairman Ziv Dekel.