Roundhill Magnificent Seven ETF Stock Price, News & Analysis

Magal Security Systems (NASDAQ: MAGS) announced a multi-million dollar contract awarded to its Senstar division for an integrated perimeter security system at a major Asian airport. This contract involves expanding an existing security system over tens of kilometers, featuring advanced intrusion detection technologies and software integration with current security infrastructure. CEO Dror Sharon emphasized that Senstar's innovative technology distinguishes it from competitors and supports the company's growth strategy in various sectors, including energy and logistics.

Magal Security Systems, Ltd. (NASDAQ: MAGS) reported Q1 2021 revenue of $6.5 million, a 14.2% decline from $7.6 million in Q1 2020, impacted by COVID-19 restrictions. The gross margin decreased to 62.1%, down from 64.8% year-over-year. The operating loss widened to $681,000 compared to a loss of $214,000 in the previous year. The net loss attributable to shareholders was $2.0 million, or $0.09 per share, including a $1.2 million loss from discontinued operations. A strong cash position of $25.9 million per share was noted, with a focus on Senstar's growth post-divestiture of the Integrated Solutions division for $35 million.

Magal Security Systems (Nasdaq: MAGS) will report its 2021 first-quarter financial results on May 24, 2021. The management plans to hold a conference call at 10:00 a.m. Eastern Time. Participants are encouraged to dial in 10 minutes early, using conference ID 13719269. A live webcast of the call can be accessed online, with a replay available from May 24 to June 7, 2021. Magal specializes in comprehensive security solutions, with over 45 years of industry experience.

Magal Security Systems, Ltd. (Nasdaq: MAGS) filed its annual report with the U.S. Securities and Exchange Commission, including audited financial statements for the year ended December 31, 2020. This report updates certain unaudited financial figures previously released on April 6, 2021. Shareholders can access the report on the company's website and request a hard copy. Notably, Magal is selling its Integrated Solutions Division to Aeronautics Ltd. for approximately $35 million, expected to close by the end of Q2 2021, pending regulatory approvals.

Magal Security Systems, Ltd. (NASDAQ: MAGS) reported a 23% revenue increase for Q4 2020, totaling $29.2 million, despite a full-year revenue decline of 6% to $81.3 million due to COVID-19 disruptions. The company experienced a net loss of $0.6 million in Q4, down from a profit of $1.8 million in the same quarter of 2019. Operating income rose by 22% to $3.5 million, and EBITDA increased by 18% to $4 million in Q4. Magal's strong cash position stood at $27.1 million. The upcoming divestiture of the Integrated Solutions Division aims to enhance focus on their Senstar division.

On April 6, 2021, Magal Security Systems (Nasdaq: MAGS) will announce its 2020 fourth quarter and year-end financial results. A conference call is scheduled for 10:00 a.m. Eastern Time to discuss these results. Participants should dial in 10 minutes prior using conference ID 13714719. Dial-in numbers include:

• Toll Free: 1-877-407-9716
• Toll/International: 1-201-493-6779
• Israel Toll Free: 1-809-406-247
• UK Toll Free: 0-800-756-3429

Magal Security Systems (NASDAQ: MAGS) has announced an asset purchase agreement to sell its Integration Solutions Division to Aeronautics Ltd. for approximately $35 million. This strategic divestiture aims to allow Magal to concentrate on its key verticals: energy, logistics, critical infrastructure, and correctional facilities. Senstar, Magal's remaining division, has contributed 46% of its revenue and boasts a gross profit margin of 64%. The deal is expected to close by Q2 2021, pending regulatory approvals, boosting Magal's growth potential and strengthening its balance sheet.

Magal Security Systems, Ltd. (NASDAQ GM: MAGS) announced the completion of its acquisition of 100% of E.S.C. BAZ Ltd., an Israeli company specializing in military-grade security video observation and surveillance systems. This acquisition builds on Magal's previous ownership of 55% of BAZ since 2018. CEO Dror Sharon emphasized this move diversifies their offerings with innovative thermal camera solutions, enhancing their existing portfolio. BAZ's General Manager, Benny Zviran, noted the company's impressive revenue growth in 2020 despite pandemic challenges.

Magal Security Systems (Nasdaq: MAGS) announced on December 27, 2020, that the Israel Tax Authority issued an interim tax pre-ruling. This ruling allows shareholders receiving a cash distribution on December 28, 2020, to potentially qualify for lower withholding tax rates or exemptions. This development provides a financial benefit to shareholders, enhancing their returns from the distribution. For further details on taxation, refer to the Form 6-K filed with the SEC.