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B.O.S. Better On-Line Solutions Ltd. reports developments tied to its role as a Nasdaq-listed integrator of supply chain technologies for aerospace, defense, industrial and retail customers. The company operates through Supply Chain, RFID and Intelligent Robotics divisions, combining franchised components, inventory marking and tracking systems, and robotic automation for industrial and logistics processes.
Recurring news includes financial results and outlook updates, customer orders, contracted backlog, defense-related assembly and robotics activity, retail RFID deployments, and sales or distribution initiatives in served geographies such as Israel, the United States and India. Company updates also describe demand trends affecting its division performance and customer programs.
BOS Better Online Solutions Ltd. (NASDAQ: BOSC) has appointed Sam Michael as Vice President for Robotics Sales in North America, leveraging his 30 years of experience in the U.S. plastic industry. The company aims to strengthen its customer support with a U.S.-based technician and increase its market share. CEO Eyal Cohen highlighted that these strategic changes are positioned to enhance revenue growth in 2021 by focusing on the key market of North America.
BOS Better Online Solutions Ltd. (NASDAQ: BOSC) announced a registered direct offering of 800,000 Ordinary Shares and 720,000 Warrants at a purchase price of $2.50 each. The Warrants have an exercise price of $2.75, are immediately exercisable, and will expire in five years. The offering is expected to close around January 4, 2020, pending customary closing conditions. A.G.P./Alliance Global Partners is the financial advisor for this transaction, which is made under an effective shelf registration with the SEC.
BOS Better Online Solutions Ltd. (NASDAQ: BOSC) reported a profitable third quarter for 2020, with revenues rising 3% to $8.2 million. Gross profit grew by 21% to $1.7 million, and the company achieved an operating profit of $227,000, reversing an operating loss from the previous year. However, year-to-date revenue decreased by 5% to $23.1 million, and net loss for the nine months reached $1.2 million. Looking ahead, BOS expects revenue for 2020 to be between $32 and $33 million and anticipates a profit exceeding $1 million in 2021.
B.O.S. Better Online Solutions Ltd. (BOSC) announced it will release its third-quarter 2020 financial results on November 30, 2020, before market opening. A conference call is scheduled for the same day at 10:00 a.m. EST, allowing for a Q&A session post-presentation. The company specializes in custom robots and automation systems for industrial processes, along with supply chain services for the aerospace and defense sectors globally.
BOS Better Online Solutions Ltd. (NASDAQ: BOSC) reported a net loss of $1.4 million for the first half of 2020, primarily due to a $1.7 million write-off related to its Robotics business. Despite strong performance in its Supply Chain and RFID divisions, the company faced challenges from the COVID-19 pandemic, impacting sales across all divisions and resulting in a revenue decrease to $14.9 million compared to $16.5 million in 2019. The company is focused on restructuring its Robotics division and anticipates returning to profitability in Q3 2020.
BOS Better Online Solutions Ltd. (BOSC) announced it will release its financial results for Q2 2020 on August 26, 2020, before market opening. The company will host a conference call at 10:00 a.m. EDT, with a Q&A session following the presentation. Access numbers for the call are available for both U.S. and international participants. BOS specializes in intelligent systems and services for production and logistics, with divisions focused on robotics, RFID systems, and supply chain solutions.