The company’s revenues jumped 3 times, gross profit 38% in the quarter, marketing and management expenses decreased, the company sold the ground profit capital 5.5 million and is not expected to pay the stock tax jumps 5%
Micronet Company Engaged in the development, production and marketing of computer systems and terminals for the management of vehicle fleets and field workers, reports:
Revenue For the first nine months, they amounted to NIS 12.8 million, compared with NIS 5 million last year, an increase of 156%. Revenues in the third quarter amounted to NIS 5.1 million, a 3.3-fold increase in revenues compared with the corresponding quarter last year, in which revenues totaled NIS 1.2 million. The increase in sales was mainly due to an increase in demand for the company’s products in the target markets and the company’s efforts to implement the growth strategy.
Gross profit For the first nine months, it amounted to NIS 4.4 million, which constitutes 34% of sales, compared with a loss of NIS 1.8 million last year. Gross profit for the third quarter amounted to NIS 1.9 million, which constitutes 38% of sales, compared with minimal gross profit in the corresponding quarter last year.
Selling and marketing expenses For the first nine months, they amounted to NIS 415,000, compared with NIS 2.1 million in the corresponding period last year. The decrease of NIS 1.7 million was due to a decrease in salary costs as a result of the company’s streamlining process. Selling and marketing expenses for the third quarter amounted to NIS 241,000, compared with NIS 146,000 in the corresponding quarter last year.
Operating profit For the first nine months, it amounted to NIS 2.9 million, compared with a loss of NIS 11.1 million in the corresponding period last year, an improvement of NIS 14 million in light of the transition from a loss to operating profit.. Operating profit for the third quarter amounted to NIS 5.2 million, compared with a loss of NIS 2.45 million last year. The operating profit was mainly due to capital gains from the sale of the company’s office building in the amount of NIS 5.5 million.
The net profit In the first nine months, it amounted to NIS 3.2 million, compared with a loss of NIS 12 million last year. The profit in the third quarter amounted to NIS 7.3 million, compared with a net loss of NIS 3 million last year.
God-EBITDA Coordinated For the first nine months, it was positive and amounted to NIS 4.4 million, compared with a loss of NIS 9.3 million last year. The adjusted EBITDA for the third quarter was positive and amounted to NIS 5.7 million, compared with a loss of NIS 2 million in the corresponding quarter last year.
The company has cash and cash equivalents In a total amount of NIS 36.3 million as of September 30, 2001, compared with a total of NIS 10.7 million on December 31, 20.
Eli Avivi, CEO of Micronet: “We conclude a second positive quarter in a row after the company recorded for the first time in a long time a net and operating profit in light of the streamlining process we performed along with the success of executing sales transactions in major target markets. “In the video telematics market. The company has undergone an important recovery and streamlining process, presents a solid cash position and a lack of loans to banks that allow us to continue to work to implement our strategy and promote the company’s products in the target markets.”