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Software | November 12, 2007

Valor shows strong positive cash flow

Valor shows strong positive cash flow and revenues of $10.6M in Q3 2007.
Revenues in the first nine months of 2007 accumulated to $31.4 Million, an increase of 17.5% as compared to $26.7 Million in the first nine months of 2006. Revenues in the third quarter of 2007 accumulated to $10.6 Million, an increase of 15.2% as compared to $9.2 Million in the parallel period of the previous year.

The net profit in the first three quarters of 2007 accumulated to $2.2 Million, a decrease of 9% as compared to $2.4 Million in the first three quarters of 2006. EBITDA was $1.3 Million in the third quarter of 2007 – an increase of 57% as compared to $861 thousand in the third quarter of 2006. Positive cash flow from operating activities was $3.7 Million in Q3/07, a significant increase compared to a negative cash flow of $859 thousand in Q3/06.

Ofer Shofman, Valor’s President and CEO, also commented on the quarterly performance and said: “This was an exciting quarter for us. We signed an OEM partnership agreement with Universal Instruments Corporation, which constitutes a landmark in our cooperation with leading capital equipment vendors. The partnership agreement opens a whole new set of potential distribution channels for us and is expected to play a significant role in our continued growth. We are already working to deliver similar agreements over the next quarters."

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