Software | May 12, 2008
Valor shows increase in profitability
Revenues in the first quarter of 2008 accumulated to $10.7 Million, an increase of 3% as compared to $10.3 Million in the first quarter of 2007.
The net profit increased by 91% as compared to the fourth quarter of 2007 – from $0.8 Million to $1.5 Million, and by 67% as compared $0.9 Million in the first quarter of 2007. EBITDA was $1.7 Million in the first quarter of 2008 – an increase of 44% compared to $1.2 Million in the previous quarter, and an increase of 16% as compared to $1.4 Million in the parallel period of the previous year. EBIT was $1.1 Million in the first quarter of 2008 – nearly twice as in the previous quarter, and 23% more than in the first quarter of 2007. “Q1 was a good quarter for Valor, with results that were in par with our expectations,” said Ofer Shofman, Valor’s President and CEO. “We have been working to increase our profitability and are pleased to see that our efforts have been fruitful, showing a significant increase in both operational and bottom line profits, which nearly doubled as compared to the previous quarter. All this, despite Q1’s traditional reputation as being a weaker quarter, and in lieu of the US Dollar’s weakness against other currencies.” “We continue to pursue our development and marketing plans, including establishment of OEM agreements with some of the world’s largest electronics assembly equipment vendors as means of expanding our distribution channels in a profitable manner. In addition, we continue to forge technological alliances with equipment vendors, which enable us to grow our customer base by expanding the scope of our solutions.” “Overall, we are pleased with the quarterly results and continue to implement our growth strategies in all markets and regions.” Shofman concluded.